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First National Bank of Grove, The

Grove, OK · Cert 34280

FDIC

Q3 2003

$52.1MAssets
$24.9MLoans
$41.7MDeposits
$3.6MEquity
Deposit mix
94%Interest-bearing $39.1M6%Noninterest $2.6MQ3 2002Q3 2003

NIM

7.57%Q3 ’016.29%Q3 ’025.27%Q3 ’03+1%-1%

Non-interest income vs. expense

3.13%Q3 ’012.67%Q3 ’022.58%Q3 ’03-14%+6%

Executive Summary

  • Earnings: ROA of 1.27%, up 13 bps year over year; NIM at 3.60%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.35%.
  • Funding: loans stand at 59.65% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

1.27%+13 bps YoY

Net Interest Margin (quarter, annualized)

3.60%-2 bps YoY

Efficiency Ratio (quarter, annualized)

60.60%+94 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.13%1.01%1.84%1.26%1.27%+13 bps
Return on Equity15.21%13.43%24.69%17.00%17.82%+260 bps
Net Interest Margin3.63%3.75%3.79%3.64%3.60%-2 bps
Efficiency Ratio59.66%60.33%60.22%64.83%60.60%+94 bps
Non-Interest Burden1.82%1.95%1.99%2.13%1.93%+10 bps
Growth
Asset Growth (YoY)19.86%17.03%21.07%23.04%12.03%-783 bps
Loan Growth (YoY)12.61%9.25%-0.53%-0.59%-4.20%-1,681 bps
Deposit Growth (YoY)19.86%16.65%11.10%15.50%5.43%-1,443 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.69%-0.08%0.41%0.38%0.35%-34 bps
Allowance / Loans0.82%1.01%1.10%1.24%1.34%+52 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 Capital13.48%13.75%14.33%14.24%14.68%+119 bps
Equity / Assets7.50%7.49%7.45%7.39%6.85%-65 bps
Liquidity & Funding
Loans / Deposits65.64%64.00%62.04%58.86%59.65%-599 bps
Liquid Assets / Assets0.05%0.16%0.02%0.05%0.09%+5 bps
CRE / Total Capitaln/an/an/an/an/an/an/a