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Gordon Bank, The

Gordon, GA · Cert 33904

FDIC

Q3 2010

$29.3MAssets
$14.4MLoans
$26.9MDeposits
$310KEquity
Loan mix
99%RE $12.4M1%C&I $0.1M0%Consumer $0.0MQ3 2009Q3 2010
Deposit mix
77%Interest-bearing $20.6M23%Noninterest $6.3MQ3 2009Q3 2010

NIM

4.25%Q3 ’083.71%Q3 ’092.74%Q3 ’10-12%-19%

Non-interest income vs. expense

4.63%Q3 ’084.35%Q3 ’095.58%Q3 ’10+1%+22%

Executive Summary

  • Earnings: ROA of -4.91%, down 488 bps year over year; NIM at 1.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 7.59%.
  • Funding: loans stand at 53.52% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

-4.91%-488 bps YoY

Net Interest Margin (quarter, annualized)

1.83%-43 bps YoY

Efficiency Ratio (quarter, annualized)

172.34%+3,591 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets-0.02%-9.29%-0.49%-16.47%-4.91%-488 bps
Return on Equity-0.29%-128.04%-7.80%-388%-294%-29,358 bps
Net Interest Margin2.27%1.50%2.30%2.02%1.83%-43 bps
Efficiency Ratio136.43%318%113.87%n/a172.34%+3,591 bps
Non-Interest Burden3.43%9.53%2.80%13.89%4.18%+75 bps
Growth
Asset Growth (YoY)-4.60%-12.48%-10.38%-15.76%-13.87%-927 bps
Loan Growth (YoY)-23.11%-30.55%-18.12%-21.87%-27.72%-460 bps
Deposit Growth (YoY)-2.60%-9.10%-8.79%-11.38%-7.77%-517 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.04%17.55%0.11%12.53%7.59%+764 bps
Allowance / Loans6.61%5.30%5.16%4.57%4.55%-206 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital13.28%10.13%9.92%3.35%-0.28%-1,356 bps
Equity / Assets8.00%6.43%6.08%2.28%1.06%-694 bps
Liquidity & Funding
Loans / Deposits68.28%64.13%62.70%60.39%53.52%-1,477 bps
Liquid Assets / Assets34.95%28.47%32.02%35.58%36.61%+166 bps
CRE / Total Capitaln/an/an/an/an/an/an/a