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Cherokee Bank, National Association

Canton, GA · Cert 35136

FDIC

Q4 2013

$170.5MAssets
$106.5MLoans
$152.0MDeposits
$11.7MEquity
Loan mix
91%RE $78.1M7%C&I $5.9M2%Consumer $1.8MQ4 2012Q4 2013
Deposit mix
74%Interest-bearing $112.5M26%Noninterest $39.5MQ4 2012Q4 2013

NIM

4.15%Q4 ’113.95%Q4 ’124.13%Q4 ’13+2%+9%

Non-interest income vs. expense

5.37%Q4 ’113.66%Q4 ’124.00%Q4 ’13-33%+21%

Executive Summary

  • Earnings: ROA of 0.19%, down 1 bps year over year; NIM at 3.67%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.23%.
  • Funding: loans stand at 70.10% of deposits as of Q4 2013.

Financial Results

Return on Assets (quarter, annualized)

0.19%-1 bps YoY

Net Interest Margin (quarter, annualized)

3.67%+31 bps YoY

Efficiency Ratio (quarter, annualized)

95.42%+716 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2012Q1 2013Q2 2013Q3 2013Q4 2013YoY ΔTrend
Earnings
Return on Assets0.20%0.77%0.80%0.07%0.19%-1 bps
Return on Equity2.91%10.61%11.16%1.02%2.79%-11 bps
Net Interest Margin3.36%3.46%3.48%3.45%3.67%+31 bps
Efficiency Ratio88.26%74.53%81.03%96.57%95.42%+716 bps
Non-Interest Burden2.88%2.34%2.68%3.31%3.48%+60 bps
Growth
Asset Growth (YoY)-1.58%-1.72%-5.12%-7.63%3.10%+468 bps
Loan Growth (YoY)-1.34%0.51%-1.41%-6.96%-2.67%-133 bps
Deposit Growth (YoY)-1.86%-2.10%-5.73%-8.08%3.06%+492 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.68%-0.01%-0.49%0.49%-0.23%-91 bps
Allowance / Loans2.11%2.26%2.40%2.38%2.40%+29 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 Capital11.55%11.88%12.16%12.53%12.48%+94 bps
Equity / Assets7.23%7.31%7.09%6.87%6.84%-39 bps
Liquidity & Funding
Loans / Deposits74.23%73.07%71.98%69.81%70.10%-413 bps
Liquid Assets / Assets9.12%10.02%10.02%13.90%12.82%+370 bps
CRE / Total Capitaln/an/an/an/an/an/an/a