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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

10.27%Q2 ’017.69%Q2 ’026.38%Q2 ’03-30%-11%

Non-interest income vs. expense

3.27%Q2 ’014.16%Q2 ’024.44%Q2 ’03+35%+8%

Executive Summary

  • Earnings: ROA of -1.16%, up 350 bps year over year; NIM at 2.96%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.76%.
  • Funding: loans stand at 90.45% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

-1.16%+350 bps YoY

Net Interest Margin (quarter, annualized)

2.96%-37 bps YoY

Efficiency Ratio (quarter, annualized)

139.15%+2,377 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets-4.65%-0.18%-0.83%-1.08%-1.16%+350 bps
Return on Equity-52.45%-1.92%-9.25%-12.13%-12.61%+3,985 bps
Net Interest Margin3.33%3.26%2.65%2.34%2.96%-37 bps
Efficiency Ratio115.38%110.00%121.59%161.33%139.15%+2,377 bps
Non-Interest Burden3.89%3.66%3.26%3.91%4.21%+32 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 / Loans5.43%1.00%1.58%1.96%1.76%-367 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