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Heritage Community Bank

Danville, KY · Cert 34398

FDIC

Q1 2005

$94.6MAssets
$81.7MLoans
$70.3MDeposits
$9.4MEquity
Loan mix
77%RE $34.2M22%C&I $9.8M0%Consumer $0.2MQ1 2004Q1 2005
Deposit mix
93%Interest-bearing $65.1M7%Noninterest $5.2MQ1 2004Q1 2005

NIM

6.17%Q1 ’036.03%Q1 ’045.85%Q1 ’05+20%-10%

Non-interest income vs. expense

3.15%Q1 ’033.40%Q1 ’043.52%Q1 ’05+3%+4%

Executive Summary

  • Earnings: ROA of 0.77%, down 38 bps year over year; NIM at 3.82%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.40%.
  • Funding: loans stand at 116.18% of deposits as of Q1 2005.

Financial Results

Return on Assets (quarter, annualized)

0.77%-38 bps YoY

Net Interest Margin (quarter, annualized)

3.82%-40 bps YoY

Efficiency Ratio (quarter, annualized)

81.82%+948 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2004Q2 2004Q3 2004Q4 2004Q1 2005YoY ΔTrend
Earnings
Return on Assets1.15%0.44%-4.33%-3.69%0.77%-38 bps
Return on Equity15.19%5.36%-48.51%-41.34%8.23%-697 bps
Net Interest Margin4.22%3.88%3.79%3.76%3.82%-40 bps
Efficiency Ratio72.34%76.15%71.71%80.05%81.82%+948 bps
Non-Interest Burden2.92%2.84%2.68%2.94%3.03%+12 bps
Growth
Asset Growth (YoY)15.66%41.35%41.67%23.57%2.08%-1,357 bps
Loan Growth (YoY)40.76%38.13%42.12%30.02%-3.28%-4,404 bps
Deposit Growth (YoY)-5.67%17.17%38.00%26.11%1.43%+710 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.04%0.11%2.12%6.07%0.40%+36 bps
Allowance / Loans1.10%1.18%2.03%2.00%2.16%+106 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 Capital10.08%12.73%12.00%11.85%13.43%+335 bps
Equity / Assets7.37%8.84%9.00%8.87%9.89%+253 bps
Liquidity & Funding
Loans / Deposits121.84%112.26%116.91%116.77%116.18%-566 bps
Liquid Assets / Assets0.22%0.15%0.08%0.03%0.08%-13 bps
CRE / Total Capitaln/an/an/an/an/an/an/a