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First National Bank of the Pine Belt

Laurel, MS · Cert 34961

FDIC

Q4 2003

$52.8MAssets
$32.8MLoans
$42.3MDeposits
$5.2MEquity
Loan mix
41%RE $7.9M59%C&I $11.4M0%Consumer $0.1MQ4 2002Q4 2003
Deposit mix
87%Interest-bearing $36.8M13%Noninterest $5.5MQ4 2002Q4 2003

NIM

6.78%Q4 ’015.81%Q4 ’025.04%Q4 ’03+22%-4%

Non-interest income vs. expense

3.12%Q4 ’013.84%Q4 ’023.32%Q4 ’03+14%-14%

Executive Summary

  • Earnings: ROA of 0.51%, up 15 bps year over year; NIM at 3.46%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.55%.
  • Funding: loans stand at 77.55% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

0.51%+15 bps YoY

Net Interest Margin (YTD, annualized)

3.46%-16 bps YoY

Efficiency Ratio (YTD, annualized)

77.74%-653 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 Assets0.36%0.27%0.34%0.43%0.51%+15 bps
Return on Equity3.57%2.57%3.31%4.29%5.08%+151 bps
Net Interest Margin3.62%3.56%3.68%3.58%3.46%-16 bps
Efficiency Ratio84.27%86.12%82.81%79.54%77.74%-653 bps
Non-Interest Burden2.91%2.94%2.89%2.68%2.51%-39 bps
Growth
Asset Growth (YoY)2.09%-2.52%5.48%9.51%8.30%+621 bps
Loan Growth (YoY)2.79%2.93%1.35%6.42%10.09%+729 bps
Deposit Growth (YoY)1.04%-1.18%4.78%8.79%4.62%+358 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.28%1.28%0.81%0.68%0.55%+28 bps
Allowance / Loans1.38%1.10%1.08%1.06%1.08%-30 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 Capital14.51%14.37%13.57%13.35%13.61%-90 bps
Equity / Assets10.19%10.65%10.05%9.68%9.81%-39 bps
Liquidity & Funding
Loans / Deposits73.70%79.62%78.64%75.98%77.55%+385 bps
Liquid Assets / Assets0.63%0.63%0.45%0.60%0.67%+4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a