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First Security Bank of Lexington, Inc.

Lexington, KY · Cert 34596

FDIC

Q1 2006

$212.4MAssets
$161.7MLoans
$176.8MDeposits
$22.9MEquity
Loan mix
50%RE $31.2M48%C&I $30.0M1%Consumer $0.9MQ1 2005Q1 2006
Deposit mix
87%Interest-bearing $153.1M13%Noninterest $23.7MQ1 2005Q1 2006

NIM

4.62%Q1 ’045.28%Q1 ’056.39%Q1 ’06+26%+15%

Non-interest income vs. expense

2.73%Q1 ’042.45%Q1 ’052.58%Q1 ’06-9%+1%

Executive Summary

  • Earnings: ROA of 0.96%, up 16 bps year over year; NIM at 3.75%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.14%.
  • Funding: loans stand at 91.45% of deposits as of Q1 2006.

Financial Results

Return on Assets (quarter, annualized)

0.96%+16 bps YoY

Net Interest Margin (quarter, annualized)

3.75%+49 bps YoY

Efficiency Ratio (quarter, annualized)

60.84%-646 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006YoY ΔTrend
Earnings
Return on Assets0.80%0.95%0.90%-0.42%0.96%+16 bps
Return on Equity7.48%8.70%7.88%-3.69%8.86%+138 bps
Net Interest Margin3.26%3.43%3.59%3.62%3.75%+49 bps
Efficiency Ratio67.30%63.05%66.76%72.15%60.84%-646 bps
Non-Interest Burden2.07%2.01%2.26%2.49%2.09%+2 bps
Growth
Asset Growth (YoY)-6.47%-2.25%-4.72%-0.38%0.19%+666 bps
Loan Growth (YoY)-5.89%-5.26%-4.77%0.70%6.37%+1,227 bps
Deposit Growth (YoY)-3.37%1.33%-1.00%-0.83%0.51%+388 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.18%0.52%-0.02%2.49%0.14%-4 bps
Allowance / Loans1.09%0.96%0.98%0.95%0.95%-14 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 Capital14.16%14.24%14.34%13.71%13.13%-103 bps
Equity / Assets10.81%11.12%11.72%10.82%10.79%-2 bps
Liquidity & Funding
Loans / Deposits86.41%85.69%88.55%86.47%91.45%+504 bps
Liquid Assets / Assets0.21%0.24%0.07%0.04%0.04%-17 bps
CRE / Total Capitaln/an/an/an/an/an/an/a