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First Western Bank

Burnsville, NC · Cert 34570

FDIC

Q3 2001

$97.1MAssets
$78.1MLoans
$67.6MDeposits
$13.4MEquity
Loan mix
40%RE $19.7M60%C&I $30.0M0%Consumer $0.2MQ3 2000Q3 2001
Deposit mix
86%Interest-bearing $57.9M14%Noninterest $9.8MQ3 2000Q3 2001

NIM

7.66%Q1 ’017.54%Q2 ’017.13%Q3 ’01+2%-2%

Non-interest income vs. expense

4.49%Q1 ’014.41%Q2 ’014.14%Q3 ’01-3%-8%

Executive Summary

  • Earnings: ROA of 0.04%, down 77 bps year over year; NIM at 3.98%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.07%.
  • Funding: loans stand at 115.46% of deposits as of Q3 2001.

Financial Results

Return on Assets (YTD, annualized)

0.04%1-77 bps YoY

Net Interest Margin (YTD, annualized)

3.98%

Efficiency Ratio (YTD, annualized)

86.17%

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2000Q4 2000Q1 2001Q2 2001Q3 2001YoY ΔTrend
Earnings
Return on Assets0.81%0.65%0.15%0.17%10.04%1-77 bps
Return on Equityn/an/an/an/an/an/an/a
Net Interest Marginn/an/a4.01%4.08%3.98%n/a
Efficiency Ration/an/a93.63%90.15%86.17%n/a
Non-Interest Burdenn/an/a3.70%3.60%3.32%n/a
Growth
Asset Growth (YoY)10.02%13.86%16.51%10.57%38.60%+2,858 bps
Loan Growth (YoY)22.84%31.29%30.24%32.47%68.23%+4,539 bps
Deposit Growth (YoY)15.30%18.14%21.66%8.41%20.70%+540 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loansn/an/a0.03%0.10%0.07%n/a
Allowance / Loansn/an/a1.30%1.31%1.36%n/a
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 Capitaln/an/a24.22%21.99%17.11%n/a
Equity / Assetsn/an/a17.90%17.29%13.78%n/a
Liquidity & Funding
Loans / Deposits82.84%90.16%90.56%100.22%115.46%+3,262 bps
Liquid Assets / Assets0.00%0.00%2.41%0.38%0.23%+23 bps
CRE / Total Capitaln/an/an/an/an/an/an/a