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Independence Bank

Kernersville, NC · Cert 34510

FDIC

Q1 2002

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q1 2002, the quarter ended March 31, 2002, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Independence Bank

Kernersville, NC · Cert 34510

FDIC

Q1 2002

$54.4MAssets
$35.1MLoans
$48.9MDeposits
$3.7MEquity
Loan mix
76%RE $16.3M24%C&I $5.1M0%Consumer $0.1MQ1 2001Q1 2002
Deposit mix
91%Interest-bearing $44.5M9%Noninterest $4.4MQ1 2001Q1 2002

NIM

7.97%Q1 ’015.96%Q1 ’02-37%

Non-interest income vs. expense

3.87%Q1 ’013.87%Q1 ’02-4%

Executive Summary

  • Earnings: ROA of -2.22%, up 356 bps year over year; NIM at 2.00%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.76%.
  • Funding: loans stand at 71.70% of deposits as of Q1 2002.

Financial Results

Return on Assets (YTD, annualized)

-2.22%+356 bps YoY

Net Interest Margin (YTD, annualized)

2.00%-119 bps YoY

Efficiency Ratio (YTD, annualized)

144.41%+4,045 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets-5.78%-3.02%-2.20%-2.84%-2.22%+356 bps
Return on Equityn/an/an/an/a-31.15%n/an/a
Net Interest Margin3.19%3.17%2.97%2.73%2.00%-119 bps
Efficiency Ratio103.96%105.14%108.79%113.20%144.41%+4,045 bps
Non-Interest Burden3.33%3.36%3.29%3.18%3.19%-14 bps
Growth
Asset Growth (YoY)27.69%15.65%6.47%-2.31%-5.11%-3,280 bps
Loan Growth (YoY)18.35%4.22%1.28%-4.98%-11.55%-2,990 bps
Deposit Growth (YoY)34.03%19.63%9.20%0.72%-2.94%-3,698 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans5.29%2.71%1.87%1.57%0.76%-452 bps
Allowance / Loans2.08%2.17%2.21%3.66%3.99%+191 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 Capital14.15%14.05%13.96%12.35%11.79%-236 bps
Equity / Assets8.55%8.62%8.31%7.38%6.88%-167 bps
Liquidity & Funding
Loans / Deposits78.67%77.18%73.30%73.01%71.70%-697 bps
Liquid Assets / Assets0.82%0.95%0.92%0.95%0.95%+13 bps
CRE / Total Capitaln/an/an/an/an/an/an/a