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Letter portraitLegal landscapeQuarterYTD

Citizens National Bank of Jessamine County

Nicholasville, KY · Cert 34195

FDIC

Q3 2008

$219.1MAssets
$131.8MLoans
$149.3MDeposits
$30.1MEquity
Deposit mix
83%Interest-bearing $123.9M17%Noninterest $25.5MQ3 2007Q3 2008

NIM

6.58%Q3 ’066.41%Q3 ’075.46%Q3 ’08-7%-12%

Non-interest income vs. expense

7.69%Q3 ’063.27%Q3 ’072.66%Q3 ’08-64%-21%

Executive Summary

  • Earnings: ROA of -0.75%, down 131 bps year over year; NIM at 2.99%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.32%.
  • Funding: loans stand at 88.24% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

-0.75%-131 bps YoY

Net Interest Margin (quarter, annualized)

2.99%-41 bps YoY

Efficiency Ratio (quarter, annualized)

61.75%-281 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.56%0.13%0.52%0.76%-0.75%-131 bps
Return on Equity3.41%0.86%3.70%5.26%-5.30%-871 bps
Net Interest Margin3.40%2.98%2.98%3.04%2.99%-41 bps
Efficiency Ratio64.56%67.70%62.66%60.07%61.75%-281 bps
Non-Interest Burden2.43%2.27%1.95%1.92%1.92%-51 bps
Growth
Asset Growth (YoY)19.47%26.55%24.09%15.52%17.15%-232 bps
Loan Growth (YoY)4.61%4.40%6.19%5.91%4.14%-47 bps
Deposit Growth (YoY)4.26%8.38%4.43%-4.48%2.72%-154 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.24%0.46%0.12%0.02%0.32%+8 bps
Allowance / Loans0.97%1.06%1.15%1.17%1.10%+13 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 Capital10.51%10.62%10.96%11.08%10.78%+27 bps
Equity / Assets16.16%13.92%14.33%14.52%13.76%-240 bps
Liquidity & Funding
Loans / Deposits87.03%86.19%87.75%94.63%88.24%+120 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a