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Centennial Bank

Southern Pines, NC · Cert 35283

FDIC

Q2 2003

$64.0MAssets
$56.6MLoans
$55.6MDeposits
$5.5MEquity
Loan mix
67%RE $17.5M23%C&I $6.1M10%Consumer $2.6MQ2 2002Q2 2003
Deposit mix
94%Interest-bearing $52.4M6%Noninterest $3.2MQ2 2002Q2 2003

NIM

6.98%Q2 ’016.44%Q2 ’026.09%Q2 ’03+77%+3%

Non-interest income vs. expense

4.67%Q2 ’014.14%Q2 ’023.82%Q2 ’03-16%-26%

Executive Summary

  • Earnings: ROA of 0.80%, up 125 bps year over year; NIM at 3.98%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.42%.
  • Funding: loans stand at 101.88% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

0.80%+125 bps YoY

Net Interest Margin (quarter, annualized)

3.98%+12 bps YoY

Efficiency Ratio (quarter, annualized)

74.49%-2,005 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets-0.44%-0.27%1.48%0.56%0.80%+125 bps
Return on Equity-4.95%-3.18%16.82%6.08%8.99%+1,394 bps
Net Interest Margin3.86%3.89%4.14%4.01%3.98%+12 bps
Efficiency Ratio94.54%78.05%69.49%82.03%74.49%-2,005 bps
Non-Interest Burden3.62%2.87%2.44%3.10%2.67%-95 bps
Growth
Asset Growth (YoY)25.96%27.56%10.17%3.09%9.34%-1,662 bps
Loan Growth (YoY)70.04%45.44%17.31%10.67%8.70%-6,134 bps
Deposit Growth (YoY)32.24%32.85%18.50%3.08%10.67%-2,156 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%1.51%0.97%0.00%0.42%+42 bps
Allowance / Loans1.47%1.46%1.30%1.36%1.31%-16 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 Capital11.96%11.32%12.20%11.96%11.41%-55 bps
Equity / Assets8.81%8.43%9.17%9.32%8.60%-21 bps
Liquidity & Funding
Loans / Deposits103.72%99.04%103.10%106.46%101.88%-185 bps
Liquid Assets / Assets0.09%0.05%0.02%0.22%0.05%-4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a