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Catawba Valley Bank

Hickory, NC · Cert 34083

FDIC

Q4 2005

$439.7MAssets
$332.4MLoans
$367.5MDeposits
$54.6MEquity
Loan mix
33%RE $77.4M66%C&I $152.8M1%Consumer $2.1MQ4 2004Q4 2005
Deposit mix
91%Interest-bearing $335.7M9%Noninterest $31.8MQ4 2004Q4 2005

NIM

5.14%Q4 ’035.17%Q4 ’045.83%Q4 ’05+3%-2%

Non-interest income vs. expense

2.61%Q4 ’032.69%Q4 ’042.57%Q4 ’05+12%-1%

Executive Summary

  • Earnings: ROA of 0.40%, down 1 bps year over year; NIM at 3.32%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.08%.
  • Funding: loans stand at 90.45% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

0.40%-1 bps YoY

Net Interest Margin (quarter, annualized)

3.32%-5 bps YoY

Efficiency Ratio (quarter, annualized)

64.52%-57 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets0.40%0.99%0.90%0.84%0.40%-1 bps
Return on Equity3.59%8.60%7.68%7.01%3.22%-38 bps
Net Interest Margin3.37%3.32%3.38%3.59%3.32%-5 bps
Efficiency Ratio65.09%59.89%64.60%60.76%64.52%-57 bps
Non-Interest Burden2.03%1.83%1.98%2.05%2.01%-2 bps
Growth
Asset Growth (YoY)6.16%1.74%1.91%-3.46%-3.48%-964 bps
Loan Growth (YoY)9.25%1.77%1.11%-6.04%-4.74%-1,399 bps
Deposit Growth (YoY)9.52%5.70%5.20%-3.37%-1.64%-1,116 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.39%2.56%0.06%1.05%0.08%-131 bps
Allowance / Loans2.33%1.78%1.78%1.67%1.88%-46 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 Capital9.74%10.24%10.40%11.02%10.97%+122 bps
Equity / Assets11.33%11.64%11.81%12.23%12.41%+108 bps
Liquidity & Funding
Loans / Deposits93.39%89.96%89.43%89.05%90.45%-294 bps
Liquid Assets / Assets1.52%3.64%3.15%3.93%2.33%+81 bps
CRE / Total Capitaln/an/an/an/an/an/an/a