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Laurel National Bank

London, KY · Cert 34190

FDIC

Q3 2007

$102.6MAssets
$68.2MLoans
$89.4MDeposits
$8.8MEquity
Deposit mix
85%Interest-bearing $76.3M15%Noninterest $13.1MQ3 2006Q3 2007

NIM

5.40%Q3 ’056.20%Q3 ’066.45%Q3 ’07+2%+7%

Non-interest income vs. expense

2.57%Q3 ’052.56%Q3 ’063.17%Q3 ’07-3%+28%

Executive Summary

  • Earnings: ROA of 0.66%, down 23 bps year over year; NIM at 3.30%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.28%.
  • Funding: loans stand at 76.24% of deposits as of Q3 2007.

Financial Results

Return on Assets (quarter, annualized)

0.66%-23 bps YoY

Net Interest Margin (quarter, annualized)

3.30%+20 bps YoY

Efficiency Ratio (quarter, annualized)

73.49%+914 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets0.89%0.88%0.87%0.64%0.66%-23 bps
Return on Equity11.83%11.24%10.48%7.39%7.66%-417 bps
Net Interest Margin3.10%3.11%3.04%3.11%3.30%+20 bps
Efficiency Ratio64.35%63.29%63.36%72.97%73.49%+914 bps
Non-Interest Burden1.68%1.64%1.62%2.04%2.16%+48 bps
Growth
Asset Growth (YoY)6.97%5.25%7.52%7.03%15.21%+824 bps
Loan Growth (YoY)15.85%9.23%18.24%7.50%20.90%+506 bps
Deposit Growth (YoY)6.43%6.11%5.56%9.01%10.14%+371 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.04%0.21%0.17%0.23%0.28%+25 bps
Allowance / Loans1.18%1.14%1.08%1.08%0.93%-25 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 Capital14.38%14.22%15.42%15.05%13.56%-82 bps
Equity / Assets7.83%7.88%8.62%8.77%8.54%+71 bps
Liquidity & Funding
Loans / Deposits69.45%69.65%69.64%69.81%76.24%+679 bps
Liquid Assets / Assets0.01%0.01%0.01%0.02%0.01%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a