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Spirit Bank

Belmont, MS · Cert 34917

FDIC

Q4 2011

$26.1MAssets
$10.5MLoans
$22.7MDeposits
$2.4MEquity
Loan mix
62%RE $6.4M24%C&I $2.5M14%Consumer $1.5MQ4 2010Q4 2011
Deposit mix
82%Interest-bearing $18.6M18%Noninterest $4.2MQ4 2010Q4 2011

NIM

4.96%Q4 ’094.48%Q4 ’103.92%Q4 ’11-4%-9%

Non-interest income vs. expense

3.61%Q4 ’093.34%Q4 ’103.00%Q4 ’11-9%-10%

Executive Summary

  • Earnings: ROA of 0.47%, up 45 bps year over year; NIM at 2.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 46.02% of deposits as of Q4 2011.

Financial Results

Return on Assets (YTD, annualized)

0.47%+45 bps YoY

Net Interest Margin (YTD, annualized)

2.83%-28 bps YoY

Efficiency Ratio (YTD, annualized)

86.78%-64 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2010Q1 2011Q2 2011Q3 2011Q4 2011YoY ΔTrend
Earnings
Return on Assets0.02%0.06%0.29%0.35%0.47%+45 bps
Return on Equity0.18%0.73%3.29%3.90%5.14%+496 bps
Net Interest Margin3.12%3.05%3.05%2.95%2.83%-28 bps
Efficiency Ratio87.42%86.22%85.17%87.25%86.78%-64 bps
Non-Interest Burden2.64%2.56%2.51%2.50%2.38%-26 bps
Growth
Asset Growth (YoY)2.32%8.77%10.53%6.38%8.37%+605 bps
Loan Growth (YoY)-2.69%2.18%1.02%-14.08%-18.07%-1,538 bps
Deposit Growth (YoY)3.08%10.29%12.10%6.68%8.75%+567 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.00%0.00%0.07%0.04%0.03%-97 bps
Allowance / Loans0.94%1.28%1.29%1.31%1.32%+38 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 Capital15.47%16.65%15.76%18.56%18.63%+316 bps
Equity / Assets9.10%8.66%9.11%9.43%9.30%+20 bps
Liquidity & Funding
Loans / Deposits61.09%54.41%53.48%47.28%46.02%-1,507 bps
Liquid Assets / Assets14.58%16.01%13.58%13.45%12.89%-169 bps
CRE / Total Capitaln/an/an/an/an/an/an/a