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Heritage Bank

Decatur, AL · Cert 34015

FDIC

Q4 2004

$540.8MAssets
$416.9MLoans
$381.0MDeposits
$45.1MEquity
Loan mix
61%RE $159.5M39%C&I $102.3M0%Consumer $0.0MQ4 2003Q4 2004
Deposit mix
93%Interest-bearing $355.3M7%Noninterest $25.7MQ4 2003Q4 2004

NIM

6.39%Q4 ’025.54%Q4 ’035.73%Q4 ’04+3%+11%

Non-interest income vs. expense

2.36%Q4 ’024.17%Q4 ’034.91%Q4 ’04+91%+1%

Executive Summary

  • Earnings: ROA of -1.79%, down 190 bps year over year; NIM at 3.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.84%.
  • Funding: loans stand at 109.42% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

-1.79%-190 bps YoY

Net Interest Margin (quarter, annualized)

3.57%+36 bps YoY

Efficiency Ratio (quarter, annualized)

107.53%-1,184 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets0.11%0.63%0.92%0.32%-1.79%-190 bps
Return on Equity1.19%7.15%10.61%3.69%-20.89%-2,208 bps
Net Interest Margin3.21%3.19%3.33%3.42%3.57%+36 bps
Efficiency Ratio119.37%90.08%76.19%75.19%107.53%-1,184 bps
Non-Interest Burden3.88%2.81%2.32%2.32%3.91%+3 bps
Growth
Asset Growth (YoY)-11.76%-2.63%1.85%6.70%3.74%+1,549 bps
Loan Growth (YoY)-26.91%-18.33%-11.91%1.52%6.38%+3,329 bps
Deposit Growth (YoY)-20.76%-15.51%-13.65%-10.97%-8.53%+1,223 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.67%1.10%1.22%2.10%2.84%+18 bps
Allowance / Loans3.72%3.16%2.76%2.43%2.57%-115 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 Capital11.98%11.81%12.05%11.84%11.14%-85 bps
Equity / Assets8.82%8.81%8.60%8.82%8.33%-49 bps
Liquidity & Funding
Loans / Deposits94.08%98.17%103.58%106.43%109.42%+1,534 bps
Liquid Assets / Assets0.02%0.15%0.15%0.08%0.10%+7 bps
CRE / Total Capitaln/an/an/an/an/an/an/a