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Somerset National Bank

Somerset, KY · Cert 34528

FDIC

Q3 2007

$179.7MAssets
$145.5MLoans
$159.6MDeposits
$16.3MEquity
Deposit mix
90%Interest-bearing $144.0M10%Noninterest $15.6MQ3 2006Q3 2007

NIM

5.64%Q3 ’056.02%Q3 ’066.68%Q3 ’07-15%+5%

Non-interest income vs. expense

3.13%Q3 ’052.84%Q3 ’062.99%Q3 ’07-11%+4%

Executive Summary

  • Earnings: ROA of 0.77%, up 3 bps year over year; NIM at 3.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 91.15% of deposits as of Q3 2007.

Financial Results

Return on Assets (YTD, annualized)

0.77%+3 bps YoY

Net Interest Margin (YTD, annualized)

3.40%+16 bps YoY

Efficiency Ratio (YTD, annualized)

71.06%-15 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets0.74%0.67%0.70%0.74%0.77%+3 bps
Return on Equity8.86%8.20%8.47%8.67%8.83%-3 bps
Net Interest Margin3.24%3.10%3.39%3.36%3.40%+16 bps
Efficiency Ratio71.22%72.82%72.17%71.18%71.06%-15 bps
Non-Interest Burden2.09%2.08%2.25%2.18%2.18%+9 bps
Growth
Asset Growth (YoY)18.79%18.17%14.16%13.48%7.19%-1,160 bps
Loan Growth (YoY)24.69%24.95%17.00%13.26%8.12%-1,657 bps
Deposit Growth (YoY)18.36%21.68%17.98%15.55%7.55%-1,081 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.06%0.14%0.16%0.15%+8 bps
Allowance / Loans1.19%1.16%1.16%1.15%1.08%-11 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 Capital12.49%12.11%13.62%13.63%13.22%+74 bps
Equity / Assets7.90%7.72%8.91%9.01%9.06%+116 bps
Liquidity & Funding
Loans / Deposits90.67%90.44%88.62%87.52%91.15%+48 bps
Liquid Assets / Assets0.02%0.01%0.01%0.02%0.02%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a