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Cumberland National Bank

Saint Marys, GA · Cert 35289

FDIC

Q2 2003

$51.3MAssets
$41.7MLoans
$46.1MDeposits
$4.8MEquity
Loan mix
77%RE $9.8M22%C&I $2.8M1%Consumer $0.1MQ2 2002Q2 2003
Deposit mix
94%Interest-bearing $43.5M6%Noninterest $2.6MQ2 2002Q2 2003

NIM

9.85%Q2 ’017.53%Q2 ’026.37%Q2 ’03-30%-14%

Non-interest income vs. expense

3.20%Q2 ’013.96%Q2 ’024.42%Q2 ’03+31%+12%

Executive Summary

  • Earnings: ROA of -1.12%, up 227 bps year over year; NIM at 2.72%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.84%.
  • Funding: loans stand at 90.45% of deposits as of Q2 2003.

Financial Results

Return on Assets (YTD, annualized)

-1.12%+227 bps YoY

Net Interest Margin (YTD, annualized)

2.72%-46 bps YoY

Efficiency Ratio (YTD, annualized)

149.36%+3,360 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets-3.39%-2.27%-1.89%-1.08%-1.12%+227 bps
Return on Equity-37.69%-25.12%-21.06%-12.13%-12.37%+2,532 bps
Net Interest Margin3.18%3.28%2.92%2.34%2.72%-46 bps
Efficiency Ratio115.76%113.71%115.41%161.33%149.36%+3,360 bps
Non-Interest Burden3.72%3.78%3.42%3.91%4.19%+46 bps
Growth
Asset Growth (YoY)16.43%19.18%18.76%-1.27%-0.61%-1,704 bps
Loan Growth (YoY)14.35%10.44%0.17%-6.84%-5.89%-2,024 bps
Deposit Growth (YoY)13.37%19.78%19.59%-2.81%0.85%-1,251 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.41%3.34%3.00%1.96%1.84%-257 bps
Allowance / Loans3.73%3.57%3.49%3.12%2.68%-105 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 Capital11.98%12.61%12.14%12.79%12.04%+6 bps
Equity / Assets10.11%9.18%8.79%9.06%9.31%-80 bps
Liquidity & Funding
Loans / Deposits96.93%84.60%79.22%82.86%90.45%-648 bps
Liquid Assets / Assets0.00%0.00%0.02%0.03%0.04%+4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a