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High Street Banking Company

Asheville, NC · Cert 34472

FDIC

Q3 2002

$161.2MAssets
$127.7MLoans
$134.5MDeposits
$15.3MEquity
Loan mix
46%RE $22.8M53%C&I $26.1M1%Consumer $0.7MQ3 2001Q3 2002
Deposit mix
92%Interest-bearing $123.4M8%Noninterest $11.1MQ3 2001Q3 2002

NIM

7.77%Q1 ’016.84%Q3 ’015.33%Q3 ’020%-12%

Non-interest income vs. expense

3.06%Q1 ’013.04%Q3 ’013.04%Q3 ’02-1%-6%

Executive Summary

  • Earnings: ROA of 0.02%, down 13 bps year over year; NIM at 2.61%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 94.93% of deposits as of Q3 2002.

Financial Results

Return on Assets (quarter, annualized)

0.02%-13 bps YoY

Net Interest Margin (quarter, annualized)

2.61%-34 bps YoY

Efficiency Ratio (quarter, annualized)

95.70%+539 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2001Q4 2001Q1 2002Q2 2002Q3 2002YoY ΔTrend
Earnings
Return on Assets0.15%-0.30%0.02%0.02%0.02%-13 bps
Return on Equity1.61%-3.28%0.21%0.24%0.18%-142 bps
Net Interest Margin2.95%2.41%2.58%2.49%2.61%-34 bps
Efficiency Ratio90.31%120.73%95.09%97.00%95.70%+539 bps
Non-Interest Burden2.62%3.03%2.43%2.40%2.47%-15 bps
Growth
Asset Growth (YoY)5.91%10.43%0.71%0.96%-4.15%-1,006 bps
Loan Growth (YoY)17.63%15.67%5.03%4.32%0.33%-1,730 bps
Deposit Growth (YoY)-0.31%4.94%1.94%2.18%-4.03%-373 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.78%0.00%0.03%0.01%+1 bps
Allowance / Loans1.43%1.31%1.34%1.31%1.35%-8 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 Capital11.01%10.93%10.79%11.10%11.06%+4 bps
Equity / Assets9.25%9.22%9.03%9.16%9.51%+26 bps
Liquidity & Funding
Loans / Deposits90.80%91.54%90.45%92.44%94.93%+413 bps
Liquid Assets / Assets0.59%1.62%0.75%0.84%1.00%+41 bps
CRE / Total Capitaln/an/an/an/an/an/an/a