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New Century Bank

Southfield, MI · Cert 34979

FDIC

Q4 2001

$21.1MAssets
$20.2MLoans
$18.9MDeposits
$-15KEquity
Deposit mix
98%Interest-bearing $18.5M2%Noninterest $0.4MQ4 2000Q4 2001

NIM

13.68%Q1 ’0113.64%Q3 ’0112.50%Q4 ’01-3%-22%

Non-interest income vs. expense

8.82%Q1 ’0110.52%Q3 ’0115.07%Q4 ’01-3%+82%

Executive Summary

  • Earnings: ROA of -17.48%, down 1,343 bps year over year; NIM at 5.55%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 12.54%.
  • Funding: loans stand at 106.80% of deposits as of Q4 2001.

Financial Results

Return on Assets (quarter, annualized)

-17.48%-1,343 bps YoY

Net Interest Margin (quarter, annualized)

5.55%

Efficiency Ratio (quarter, annualized)

267%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2000Q1 2001Q2 2001Q3 2001Q4 2001YoY ΔTrend
Earnings
Return on Assets-4.05%-9.40%-16.11%-25.43%-17.48%-1,343 bps
Return on Equityn/an/a-205%-628%-4087%n/a
Net Interest Marginn/a7.39%7.06%7.14%5.55%n/a
Efficiency Ration/a113.52%144.82%111.42%267%n/a
Non-Interest Burdenn/a8.44%11.32%8.22%14.98%n/a
Growth
Asset Growth (YoY)-26.18%-38.51%-44.20%-42.88%-47.59%-2,140 bps
Loan Growth (YoY)-24.30%-33.38%-35.60%-36.30%-37.64%-1,334 bps
Deposit Growth (YoY)-27.82%-38.55%-47.40%-38.50%-43.21%-1,539 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loansn/a9.66%12.25%4.08%12.54%n/a
Allowance / Loansn/a3.12%4.35%11.25%12.16%n/a
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 Capitaln/a11.74%9.38%1.97%-0.08%n/a
Equity / Assetsn/a8.67%6.92%0.83%-0.07%n/a
Liquidity & Funding
Loans / Deposits97.26%98.18%100.42%95.66%106.80%+954 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a