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Southern Heritage Bank

Oakwood, GA · Cert 34593

FDIC

Q2 2004

$117.7MAssets
$100.0MLoans
$102.1MDeposits
$13.2MEquity
Loan mix
80%RE $33.0M20%C&I $8.1M0%Consumer $0.0MQ2 2003Q2 2004
Deposit mix
83%Interest-bearing $84.6M17%Noninterest $17.6MQ2 2003Q2 2004

NIM

7.45%Q2 ’026.03%Q2 ’035.66%Q2 ’04-24%+7%

Non-interest income vs. expense

3.41%Q2 ’022.99%Q2 ’032.87%Q2 ’04-30%+13%

Executive Summary

  • Earnings: ROA of 1.11%, up 30 bps year over year; NIM at 3.92%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 97.90% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

1.11%+30 bps YoY

Net Interest Margin (quarter, annualized)

3.92%+25 bps YoY

Efficiency Ratio (quarter, annualized)

62.32%-87 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets0.81%0.26%0.04%1.11%1.11%+30 bps
Return on Equity8.21%2.39%0.38%10.17%10.06%+184 bps
Net Interest Margin3.67%3.87%4.12%4.29%3.92%+25 bps
Efficiency Ratio63.19%61.57%59.82%57.58%62.32%-87 bps
Non-Interest Burden1.93%2.07%2.20%2.17%2.19%+26 bps
Growth
Asset Growth (YoY)65.40%48.19%33.51%20.72%-0.01%-6,542 bps
Loan Growth (YoY)62.47%52.54%36.34%30.04%12.77%-4,970 bps
Deposit Growth (YoY)71.89%51.40%34.28%19.17%1.18%-7,071 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.03%4.14%0.10%0.04%-1 bps
Allowance / Loans1.22%1.60%1.07%1.06%1.11%-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 Capital14.06%14.12%13.34%12.90%14.25%+19 bps
Equity / Assets10.64%10.88%10.93%10.93%11.18%+55 bps
Liquidity & Funding
Loans / Deposits87.84%93.64%98.80%103.74%97.90%+1,006 bps
Liquid Assets / Assets0.00%0.01%0.03%0.02%0.01%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a