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Gilmer County Bank

Ellijay, GA · Cert 33989

FDIC

Q4 2009

$1.0BAssets
$663.3MLoans
$917.6MDeposits
$18.0MEquity
Loan mix
87%RE $503.4M12%C&I $71.3M1%Consumer $5.2MQ4 2008Q4 2009
Deposit mix
94%Interest-bearing $864.0M6%Noninterest $53.5MQ4 2008Q4 2009

NIM

8.10%Q4 ’075.67%Q4 ’083.69%Q4 ’09-36%-44%

Non-interest income vs. expense

2.73%Q4 ’072.23%Q4 ’083.31%Q4 ’09-16%+68%

Executive Summary

  • Earnings: ROA of -3.54%, down 273 bps year over year; NIM at 1.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 6.85%.
  • Funding: loans stand at 72.29% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

-3.54%-273 bps YoY

Net Interest Margin (quarter, annualized)

1.47%-114 bps YoY

Efficiency Ratio (quarter, annualized)

195.77%+12,167 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-0.81%-0.51%-10.52%-7.20%-3.54%-273 bps
Return on Equity-11.59%-7.90%-206%-236%-176.93%-16,534 bps
Net Interest Margin2.61%2.23%1.00%1.41%1.47%-114 bps
Efficiency Ratio74.10%100.13%207%189.32%195.77%+12,167 bps
Non-Interest Burden1.84%2.23%3.10%2.63%3.09%+125 bps
Growth
Asset Growth (YoY)17.17%16.92%8.83%2.37%-8.31%-2,548 bps
Loan Growth (YoY)5.90%0.55%-5.34%-11.46%-18.60%-2,450 bps
Deposit Growth (YoY)19.55%20.88%11.98%6.72%-2.30%-2,186 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.50%1.97%6.58%7.30%6.85%+435 bps
Allowance / Loans1.67%1.62%2.68%3.25%3.58%+191 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 Capital10.08%10.08%7.26%4.98%3.82%-626 bps
Equity / Assets6.70%6.29%3.86%2.21%1.78%-492 bps
Liquidity & Funding
Loans / Deposits86.76%82.56%81.16%76.91%72.29%-1,447 bps
Liquid Assets / Assets0.07%0.01%12.05%14.70%10.18%+1,011 bps
CRE / Total Capitaln/an/an/an/an/an/an/a