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High Country Bank

Boone, NC · Cert 34865

FDIC

Q4 2003

$183.8MAssets
$156.7MLoans
$163.3MDeposits
$15.3MEquity
Loan mix
70%RE $48.5M27%C&I $18.9M2%Consumer $1.5MQ4 2002Q4 2003
Deposit mix
87%Interest-bearing $142.9M13%Noninterest $20.4MQ4 2002Q4 2003

NIM

6.34%Q4 ’015.54%Q4 ’025.38%Q4 ’03+9%+8%

Non-interest income vs. expense

3.54%Q4 ’013.35%Q4 ’023.42%Q4 ’03-16%-13%

Executive Summary

  • Earnings: ROA of -0.05%, down 55 bps year over year; NIM at 3.31%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.39%.
  • Funding: loans stand at 95.97% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

-0.05%-55 bps YoY

Net Interest Margin (YTD, annualized)

3.31%+26 bps YoY

Efficiency Ratio (YTD, annualized)

68.29%-723 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets0.50%0.61%0.63%0.71%-0.05%-55 bps
Return on Equity5.17%6.82%7.06%7.93%-0.60%-577 bps
Net Interest Margin3.05%3.17%3.18%3.24%3.31%+26 bps
Efficiency Ratio75.51%71.28%70.63%68.72%68.29%-723 bps
Non-Interest Burden1.96%1.76%1.75%1.71%1.72%-25 bps
Growth
Asset Growth (YoY)29.31%19.55%15.72%10.76%3.57%-2,574 bps
Loan Growth (YoY)19.88%18.04%22.51%21.66%15.42%-446 bps
Deposit Growth (YoY)34.95%21.10%17.32%12.37%4.09%-3,086 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.15%0.24%0.25%0.25%0.39%+23 bps
Allowance / Loans1.26%1.30%1.30%1.30%1.30%+4 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 Capital11.13%11.21%11.01%10.97%10.23%-90 bps
Equity / Assets8.71%9.07%9.00%8.93%8.30%-41 bps
Liquidity & Funding
Loans / Deposits86.55%90.41%93.96%95.83%95.97%+942 bps
Liquid Assets / Assets1.13%1.15%1.13%0.00%0.00%-112 bps
CRE / Total Capitaln/an/an/an/an/an/an/a