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Bank of Asheville, The

Asheville, NC · Cert 34516

FDIC

Q4 2010

$204.9MAssets
$160.6MLoans
$199.4MDeposits
$546KEquity
Loan mix
87%RE $122.2M13%C&I $18.5M0%Consumer $0.2MQ4 2009Q4 2010
Deposit mix
89%Interest-bearing $177.8M11%Noninterest $21.5MQ4 2009Q4 2010

NIM

6.41%Q4 ’084.77%Q4 ’093.97%Q4 ’10-21%-10%

Non-interest income vs. expense

3.29%Q4 ’083.05%Q4 ’094.41%Q4 ’10-4%+53%

Executive Summary

  • Earnings: ROA of -1.43%, up 10 bps year over year; NIM at 2.82%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 80.53% of deposits as of Q4 2010.

Financial Results

Return on Assets (quarter, annualized)

-1.43%+10 bps YoY

Net Interest Margin (quarter, annualized)

2.82%-31 bps YoY

Efficiency Ratio (quarter, annualized)

124.35%+4,339 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets-1.54%0.13%-25.66%-9.08%-1.43%+10 bps
Return on Equity-17.11%1.47%-420%-463%-270%-25,243 bps
Net Interest Margin3.13%3.44%3.07%3.51%2.82%-31 bps
Efficiency Ratio80.97%78.90%94.66%122.79%124.35%+4,339 bps
Non-Interest Burden2.41%2.56%2.87%4.46%3.68%+127 bps
Growth
Asset Growth (YoY)10.32%4.81%-4.16%-12.67%-8.32%-1,864 bps
Loan Growth (YoY)8.31%5.18%-5.63%-10.86%-13.43%-2,174 bps
Deposit Growth (YoY)15.46%5.59%2.47%-4.38%0.50%-1,497 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.06%0.95%31.44%0.56%0.15%-390 bps
Allowance / Loans1.89%1.91%2.46%5.11%5.32%+342 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 Capital11.16%11.69%4.63%1.63%0.81%-1,035 bps
Equity / Assets8.72%9.07%3.01%0.81%0.27%-846 bps
Liquidity & Funding
Loans / Deposits93.48%92.94%84.62%87.79%80.53%-1,296 bps
Liquid Assets / Assets0.69%2.07%4.20%5.75%14.87%+1,418 bps
CRE / Total Capitaln/an/an/an/an/an/an/a