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Cornerstone Bank

Senatobia, MS · Cert 35269

FDIC

Q1 2006

$44.0MAssets
$34.9MLoans
$39.8MDeposits
$4.1MEquity
Deposit mix
87%Interest-bearing $34.5M13%Noninterest $5.3MQ1 2005Q1 2006

NIM

5.34%Q1 ’045.43%Q1 ’056.22%Q1 ’06+1%+4%

Non-interest income vs. expense

3.67%Q1 ’044.08%Q1 ’054.50%Q1 ’06+14%-5%

Executive Summary

  • Earnings: ROA of 0.27%, up 49 bps year over year; NIM at 3.82%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.11%.
  • Funding: loans stand at 87.75% of deposits as of Q1 2006.

Financial Results

Return on Assets (YTD, annualized)

0.27%+49 bps YoY

Net Interest Margin (YTD, annualized)

3.82%+16 bps YoY

Efficiency Ratio (YTD, annualized)

94.18%-748 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006YoY ΔTrend
Earnings
Return on Assets-0.22%-0.17%-1.06%-0.79%0.27%+49 bps
Return on Equity-2.36%-1.91%-11.82%-8.86%3.07%+542 bps
Net Interest Margin3.66%3.49%3.51%3.64%3.82%+16 bps
Efficiency Ratio101.66%100.92%103.52%102.37%94.18%-748 bps
Non-Interest Burden3.73%3.52%3.65%3.74%3.54%-18 bps
Growth
Asset Growth (YoY)-3.16%-0.17%0.78%-0.91%-8.88%-572 bps
Loan Growth (YoY)-1.69%-2.95%-3.98%-2.53%-1.93%-24 bps
Deposit Growth (YoY)-2.95%0.08%2.06%-0.21%-9.15%-619 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.25%0.53%0.78%0.71%-0.11%-36 bps
Allowance / Loans1.89%1.80%2.37%2.21%2.21%+32 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 Capital15.02%15.33%14.27%14.13%14.07%-95 bps
Equity / Assets9.08%8.94%8.55%8.65%9.22%+14 bps
Liquidity & Funding
Loans / Deposits81.29%77.42%79.51%81.27%87.75%+645 bps
Liquid Assets / Assets0.01%0.02%0.01%0.02%0.02%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a