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Southern Community Bank

Fayetteville, GA · Cert 35251

FDIC

Q1 2009

$371.7MAssets
$223.7MLoans
$298.0MDeposits
$13.7MEquity
Loan mix
90%RE $168.8M10%C&I $19.3M0%Consumer $0.2MQ1 2008Q1 2009
Deposit mix
93%Interest-bearing $277.6M7%Noninterest $20.4MQ1 2008Q1 2009

NIM

7.55%Q1 ’075.58%Q1 ’083.49%Q1 ’09-46%-87%

Non-interest income vs. expense

2.81%Q1 ’072.61%Q1 ’082.85%Q1 ’09+1%+10%

Executive Summary

  • Earnings: ROA of -4.64%, down 276 bps year over year; NIM at 0.28%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 12.52%.
  • Funding: loans stand at 75.07% of deposits as of Q1 2009.

Financial Results

Return on Assets (YTD, annualized)

-4.64%-276 bps YoY

Net Interest Margin (YTD, annualized)

0.28%-181 bps YoY

Efficiency Ratio (YTD, annualized)

865%+74,380 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009YoY ΔTrend
Earnings
Return on Assets-1.88%-1.49%-3.06%-4.50%-4.64%-276 bps
Return on Equity-24.16%-19.31%-41.62%-65.98%-110.82%-8,666 bps
Net Interest Margin2.09%1.80%1.57%1.31%0.28%-181 bps
Efficiency Ratio121.04%141.74%157.25%281%865%+74,380 bps
Non-Interest Burden2.55%2.58%2.53%3.11%2.81%+26 bps
Growth
Asset Growth (YoY)-6.40%-5.07%6.11%-6.36%0.10%+650 bps
Loan Growth (YoY)-12.87%-17.02%-18.50%-17.42%-15.76%-289 bps
Deposit Growth (YoY)-8.29%-3.17%17.88%0.81%8.00%+1,629 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans6.92%4.47%3.28%3.11%12.52%+560 bps
Allowance / Loans2.22%2.31%2.75%4.11%2.19%-3 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 Capital9.93%10.04%9.85%7.43%6.13%-381 bps
Equity / Assets8.02%7.66%6.25%4.68%3.68%-434 bps
Liquidity & Funding
Loans / Deposits96.24%91.62%75.74%78.55%75.07%-2,117 bps
Liquid Assets / Assets1.21%1.24%1.72%1.97%3.13%+192 bps
CRE / Total Capitaln/an/an/an/an/an/an/a