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Letter portraitLegal landscapeQuarterYTD

State of Franklin Savings Bank

Johnson City, TN · Cert 34137

FDIC

Q1 2014

$506.9MAssets
$346.4MLoans
$384.6MDeposits
$58.8MEquity
Loan mix
77%RE $221.6M22%C&I $62.1M1%Consumer $2.6MQ1 2013Q1 2014
Deposit mix
85%Interest-bearing $328.7M15%Noninterest $55.9MQ1 2013Q1 2014

NIM

4.03%Q1 ’123.78%Q1 ’133.71%Q1 ’14-1%+1%

Non-interest income vs. expense

2.79%Q1 ’123.00%Q1 ’132.83%Q1 ’14+5%-3%

Executive Summary

  • Earnings: ROA of 0.50%, up 17 bps year over year; NIM at 3.27%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Funding: loans stand at 90.06% of deposits as of Q1 2014.

Financial Results

Return on Assets (quarter, annualized)

0.50%+17 bps YoY

Net Interest Margin (quarter, annualized)

3.27%+4 bps YoY

Efficiency Ratio (quarter, annualized)

77.21%-330 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2013Q2 2013Q3 2013Q4 2013Q1 2014YoY ΔTrend
Earnings
Return on Assets0.34%0.49%0.44%0.43%0.50%+17 bps
Return on Equity3.00%4.31%3.86%3.76%4.34%+134 bps
Net Interest Margin3.23%3.31%3.23%3.33%3.27%+4 bps
Efficiency Ratio80.51%79.31%79.73%80.76%77.21%-330 bps
Non-Interest Burden2.59%2.63%2.58%2.69%2.51%-8 bps
Growth
Asset Growth (YoY)-5.27%-3.83%-1.74%-4.22%0.11%+537 bps
Loan Growth (YoY)-8.84%-0.51%-0.22%3.64%9.00%+1,784 bps
Deposit Growth (YoY)-6.48%-5.64%-2.72%-7.47%-5.34%+114 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.29%0.01%0.84%1.22%0.06%-23 bps
Allowance / Loans1.78%1.73%1.56%1.19%1.13%-65 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 Capital14.31%14.18%14.47%14.42%14.29%-2 bps
Equity / Assets11.36%11.33%11.51%11.60%11.60%+24 bps
Liquidity & Funding
Loans / Deposits78.21%81.63%80.36%86.03%90.06%+1,185 bps
Liquid Assets / Assets5.57%3.10%2.59%1.62%1.64%-393 bps
CRE / Total Capitaln/an/an/an/an/an/an/a