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Alamance National Bank

Graham, NC · Cert 34676

FDIC

Q4 2005

$160.3MAssets
$96.3MLoans
$111.4MDeposits
$23.4MEquity
Loan mix
66%RE $30.9M30%C&I $13.9M4%Consumer $1.9MQ4 2004Q4 2005
Deposit mix
88%Interest-bearing $97.9M12%Noninterest $13.6MQ4 2004Q4 2005

NIM

5.29%Q4 ’035.29%Q4 ’04-12.23%Q4 ’05+1%-322%

Non-interest income vs. expense

3.22%Q4 ’033.41%Q4 ’04-6.47%Q4 ’05-1%-282%

Executive Summary

  • Earnings: ROA of 0.58%, up 45 bps year over year; NIM at -6.90%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 6.92%.
  • Funding: loans stand at 86.47% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

0.58%+45 bps YoY

Net Interest Margin (quarter, annualized)

-6.90%-1,001 bps YoY

Efficiency Ratio (quarter, annualized)

71.77%-1,688 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets0.13%0.67%0.73%-1.68%0.58%+45 bps
Return on Equity1.70%9.35%10.09%-22.75%5.19%+349 bps
Net Interest Margin3.11%3.12%3.06%3.32%-6.90%-1,001 bps
Efficiency Ratio88.65%79.82%77.13%68.77%71.77%-1,688 bps
Non-Interest Burden2.67%2.39%2.20%2.05%-4.86%-753 bps
Growth
Asset Growth (YoY)11.85%11.18%4.57%-1.06%9.02%-282 bps
Loan Growth (YoY)7.98%8.35%4.20%-1.94%-1.54%-953 bps
Deposit Growth (YoY)5.63%9.86%6.13%0.17%4.34%-129 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.06%-0.22%-0.02%6.86%-6.92%-799 bps
Allowance / Loans1.58%1.61%1.69%1.38%1.61%+3 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 Capital13.51%13.11%12.93%12.73%9.22%-429 bps
Equity / Assets7.31%7.00%7.48%7.27%14.62%+731 bps
Liquidity & Funding
Loans / Deposits91.64%90.13%89.50%91.31%86.47%-516 bps
Liquid Assets / Assets0.73%0.80%1.34%1.02%0.84%+11 bps
CRE / Total Capitaln/an/an/an/an/an/an/a