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Scottish Bank, The

Charlotte, NC · Cert 34700

FDIC

Q3 2008

$270.1MAssets
$203.3MLoans
$194.5MDeposits
$49.2MEquity
Loan mix
91%RE $139.0M9%C&I $14.2M0%Consumer $0.3MQ3 2007Q3 2008
Deposit mix
91%Interest-bearing $176.9M9%Noninterest $17.7MQ3 2007Q3 2008

NIM

6.62%Q3 ’066.71%Q3 ’075.22%Q3 ’08+6%-5%

Non-interest income vs. expense

2.70%Q3 ’062.93%Q3 ’072.35%Q3 ’08+21%-19%

Executive Summary

  • Earnings: ROA of 0.39%, down 15 bps year over year; NIM at 3.23%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.24%.
  • Funding: loans stand at 104.49% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

0.39%-15 bps YoY

Net Interest Margin (quarter, annualized)

3.23%-17 bps YoY

Efficiency Ratio (quarter, annualized)

65.95%-1,149 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.54%-1.28%0.41%0.43%10.39%-15 bps
Return on Equity5.74%-8.52%2.11%2.31%2.13%-361 bps
Net Interest Margin3.40%-8.57%2.95%3.26%3.23%-17 bps
Efficiency Ratio77.44%72.78%77.94%71.55%65.95%-1,149 bps
Non-Interest Burden2.54%-6.46%2.29%2.29%2.07%-47 bps
Growth
Asset Growth (YoY)0.21%20.25%27.39%35.15%36.74%+3,653 bps
Loan Growth (YoY)4.38%11.52%18.20%28.99%33.32%+2,894 bps
Deposit Growth (YoY)-1.83%4.49%2.79%5.46%17.06%+1,889 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%-0.31%0.00%0.00%0.24%+24 bps
Allowance / Loans1.14%1.16%1.16%1.30%1.39%+25 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 Capital12.43%10.62%10.60%10.31%10.80%-164 bps
Equity / Assets9.40%19.79%18.91%18.33%18.21%+882 bps
Liquidity & Funding
Loans / Deposits91.74%92.06%100.87%114.22%104.49%+1,275 bps
Liquid Assets / Assets0.00%0.00%0.21%0.01%0.02%+2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a