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First Georgia Community Bank

Jackson, GA · Cert 34301

FDIC

Q3 2008

$256.4MAssets
$178.2MLoans
$215.3MDeposits
$15.7MEquity
Deposit mix
88%Interest-bearing $189.6M12%Noninterest $25.7MQ3 2007Q3 2008

NIM

8.25%Q3 ’067.55%Q3 ’074.31%Q3 ’08-28%-75%

Non-interest income vs. expense

2.53%Q3 ’062.89%Q3 ’073.16%Q3 ’08+14%-40%

Executive Summary

  • Earnings: ROA of -0.65%, down 27 bps year over year; NIM at 0.80%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.89%.
  • Funding: loans stand at 82.78% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

-0.65%-27 bps YoY

Net Interest Margin (quarter, annualized)

0.80%-237 bps YoY

Efficiency Ratio (quarter, annualized)

126.37%+4,661 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets-0.38%-17.67%-0.13%-3.64%-0.65%-27 bps
Return on Equity-4.43%-265%-2.77%-71.15%-11.38%-695 bps
Net Interest Margin3.17%2.10%1.49%0.63%0.80%-237 bps
Efficiency Ratio79.75%133.58%104.46%295%126.37%+4,661 bps
Non-Interest Burden2.43%2.94%1.62%2.50%1.46%-97 bps
Growth
Asset Growth (YoY)6.50%-3.79%-6.39%-14.29%-16.36%-2,286 bps
Loan Growth (YoY)1.56%-9.08%-15.45%-23.34%-19.99%-2,155 bps
Deposit Growth (YoY)6.40%0.20%-2.41%-11.23%-15.46%-2,185 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.38%1.75%5.19%8.19%0.89%+51 bps
Allowance / Loans1.52%8.09%7.42%6.72%6.51%+499 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 Capital11.61%7.00%7.04%7.77%8.88%-273 bps
Equity / Assets8.48%4.73%4.91%5.33%6.13%-235 bps
Liquidity & Funding
Loans / Deposits87.47%85.24%79.34%80.26%82.78%-469 bps
Liquid Assets / Assets0.79%1.06%1.69%3.14%3.28%+249 bps
CRE / Total Capitaln/an/an/an/an/an/an/a