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First National Bank

Folkston, GA · Cert 34152

FDIC

Q1 2010

$252.5MAssets
$178.6MLoans
$231.9MDeposits
$4.9MEquity
Deposit mix
96%Interest-bearing $223.6M4%Noninterest $8.3MQ1 2009Q1 2010

NIM

7.02%Q1 ’085.31%Q1 ’093.49%Q1 ’10-21%-52%

Non-interest income vs. expense

2.32%Q1 ’082.50%Q1 ’093.13%Q1 ’10+11%+31%

Executive Summary

  • Earnings: ROA of -2.17%, down 235 bps year over year; NIM at 1.11%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.12%.
  • Funding: loans stand at 77.04% of deposits as of Q1 2010.

Financial Results

Return on Assets (YTD, annualized)

-2.17%-235 bps YoY

Net Interest Margin (YTD, annualized)

1.11%-122 bps YoY

Efficiency Ratio (YTD, annualized)

245%+14,762 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2009Q2 2009Q3 2009Q4 2009Q1 2010YoY ΔTrend
Earnings
Return on Assets0.19%1-0.28%-3.02%-6.49%-2.17%-235 bps
Return on Equity2.03%-3.14%-37.92%-94.45%-103.62%-10,566 bps
Net Interest Margin2.32%1.97%1.63%1.44%1.11%-122 bps
Efficiency Ratio97.54%110.10%130.43%190.79%245%+14,762 bps
Non-Interest Burden2.26%2.19%2.18%2.89%2.96%+70 bps
Growth
Asset Growth (YoY)3.18%11.42%17.38%1.67%-9.73%-1,291 bps
Loan Growth (YoY)3.29%-1.08%-4.73%-8.92%-17.29%-2,058 bps
Deposit Growth (YoY)5.23%14.65%24.92%10.75%-2.64%-787 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.33%1.35%5.24%6.67%2.12%+179 bps
Allowance / Loans3.37%3.14%3.01%4.90%4.89%+152 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 Capital12.33%12.64%10.29%4.63%3.87%-846 bps
Equity / Assets8.92%7.99%5.81%2.24%1.93%-699 bps
Liquidity & Funding
Loans / Deposits90.68%79.71%70.88%76.55%77.04%-1,364 bps
Liquid Assets / Assets0.18%7.90%18.33%12.29%11.43%+1,125 bps
CRE / Total Capitaln/an/an/an/an/an/an/a