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First Heritage Bank

Wilkes-Barre, PA · Cert 33913

FDIC

Q1 2004

$269.7MAssets
$204.3MLoans
$204.7MDeposits
$30.4MEquity
Loan mix
37%RE $49.0M63%C&I $84.6M0%Consumer $0.1MQ1 2003Q1 2004
Deposit mix
91%Interest-bearing $185.5M9%Noninterest $19.2MQ1 2003Q1 2004

NIM

5.66%Q1 ’024.76%Q1 ’034.48%Q1 ’04-7%+5%

Non-interest income vs. expense

1.63%Q1 ’021.55%Q1 ’031.67%Q1 ’04+4%+9%

Executive Summary

  • Earnings: ROA of 1.07%, down 5 bps year over year; NIM at 3.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.26%.
  • Funding: loans stand at 99.80% of deposits as of Q1 2004.

Financial Results

Return on Assets (quarter, annualized)

1.07%-5 bps YoY

Net Interest Margin (quarter, annualized)

3.09%+16 bps YoY

Efficiency Ratio (quarter, annualized)

51.04%+141 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets1.12%1.13%1.12%1.19%1.07%-5 bps
Return on Equity11.25%11.16%10.85%11.07%9.53%-172 bps
Net Interest Margin2.93%2.97%2.98%3.05%3.09%+16 bps
Efficiency Ratio49.63%44.81%45.32%44.94%51.04%+141 bps
Non-Interest Burden1.36%1.24%1.26%1.28%1.49%+13 bps
Growth
Asset Growth (YoY)5.67%2.39%3.90%-1.94%-4.32%-999 bps
Loan Growth (YoY)6.68%5.43%4.79%5.27%6.05%-63 bps
Deposit Growth (YoY)6.68%1.12%2.44%-3.60%-6.05%-1,273 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%-0.03%0.93%0.05%0.26%+21 bps
Allowance / Loans1.27%1.32%1.11%1.15%1.12%-15 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 Capital15.37%15.61%15.17%15.89%15.56%+19 bps
Equity / Assets10.00%10.34%10.29%11.22%11.26%+126 bps
Liquidity & Funding
Loans / Deposits88.42%90.26%91.19%97.95%99.80%+1,138 bps
Liquid Assets / Assets0.03%0.02%0.02%0.03%0.01%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a