PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

First Gaston Bank of North Carolina

Gastonia, NC · Cert 34041

FDIC

Q2 2006

$726.4MAssets
$483.1MLoans
$564.8MDeposits
$136.2MEquity
Loan mix
42%RE $125.1M56%C&I $167.2M2%Consumer $6.5MQ2 2005Q2 2006
Deposit mix
91%Interest-bearing $513.6M9%Noninterest $51.2MQ2 2005Q2 2006

NIM

4.73%Q2 ’045.85%Q2 ’05-1.65%Q2 ’06+21%-124%

Non-interest income vs. expense

2.53%Q2 ’042.97%Q2 ’05-0.97%Q2 ’06+26%-146%

Executive Summary

  • Earnings: ROA of 0.44%, down 93 bps year over year; NIM at -0.92%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 3.33%.
  • Funding: loans stand at 85.54% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

0.44%-93 bps YoY

Net Interest Margin (quarter, annualized)

-0.92%-480 bps YoY

Efficiency Ratio (quarter, annualized)

58.49%+7 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets1.37%-0.10%1.14%0.78%0.44%-93 bps
Return on Equity15.85%-1.21%13.41%7.40%2.88%-1,297 bps
Net Interest Margin3.87%3.88%3.90%3.66%-0.92%-480 bps
Efficiency Ratio58.42%102.41%60.37%65.60%58.49%+7 bps
Non-Interest Burden1.76%4.02%1.89%2.19%-0.82%-258 bps
Growth
Asset Growth (YoY)3.97%4.83%7.71%214%235%+23,125 bps
Loan Growth (YoY)4.75%7.90%12.18%216%197.74%+19,299 bps
Deposit Growth (YoY)4.22%8.70%11.73%230%225%+22,125 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%-0.03%-0.10%3.02%-3.33%-340 bps
Allowance / Loans1.31%1.30%1.36%1.23%1.23%-8 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 Capital11.68%11.02%11.19%11.14%8.71%-297 bps
Equity / Assets8.74%8.43%8.58%11.13%18.74%+1,001 bps
Liquidity & Funding
Loans / Deposits93.51%91.66%92.42%87.14%85.54%-797 bps
Liquid Assets / Assets1.60%0.60%0.30%3.03%3.16%+156 bps
CRE / Total Capitaln/an/an/an/an/an/an/a