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Rutherford Bank and Trust

Murfreesboro, TN · Cert 34246

FDIC

Q3 2003

$59.6MAssets
$38.7MLoans
$54.5MDeposits
$4.9MEquity
Loan mix
58%RE $7.5M41%C&I $5.3M0%Consumer $0.0MQ3 2002Q3 2003
Deposit mix
82%Interest-bearing $44.8M18%Noninterest $9.7MQ3 2002Q3 2003

NIM

7.70%Q3 ’015.86%Q3 ’024.73%Q3 ’03+9%-14%

Non-interest income vs. expense

3.19%Q3 ’013.14%Q3 ’023.16%Q3 ’03-9%-1%

Executive Summary

  • Earnings: ROA of 0.17%, down 36 bps year over year; NIM at 3.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.92%.
  • Funding: loans stand at 71.03% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

0.17%-36 bps YoY

Net Interest Margin (YTD, annualized)

3.01%-51 bps YoY

Efficiency Ratio (YTD, annualized)

83.37%+970 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets0.53%0.53%0.14%0.24%0.17%-36 bps
Return on Equity6.19%6.13%1.62%2.79%2.03%-416 bps
Net Interest Margin3.52%3.31%3.06%3.21%3.01%-51 bps
Efficiency Ratio73.67%73.88%77.88%78.25%83.37%+970 bps
Non-Interest Burden2.39%2.25%2.20%2.33%2.38%-2 bps
Growth
Asset Growth (YoY)13.09%11.84%1.90%6.98%4.27%-882 bps
Loan Growth (YoY)22.32%5.06%3.88%-8.74%-10.79%-3,311 bps
Deposit Growth (YoY)13.96%12.41%1.63%7.33%4.69%-927 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.29%0.31%0.10%0.74%0.92%+62 bps
Allowance / Loans1.25%1.33%1.52%1.32%1.12%-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 Capital11.93%12.42%12.27%12.42%12.44%+51 bps
Equity / Assets8.49%8.56%8.74%8.55%8.25%-24 bps
Liquidity & Funding
Loans / Deposits83.35%78.68%80.26%76.27%71.03%-1,233 bps
Liquid Assets / Assets2.61%1.72%1.76%1.71%0.83%-178 bps
CRE / Total Capitaln/an/an/an/an/an/an/a