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Horizon Bank

Decatur, GA · Cert 35379

FDIC

Q3 2008

$559.6MAssets
$476.4MLoans
$489.7MDeposits
$24.8MEquity
Loan mix
91%RE $362.6M8%C&I $32.3M1%Consumer $2.4MQ3 2007Q3 2008
Deposit mix
97%Interest-bearing $472.6M3%Noninterest $17.0MQ3 2007Q3 2008

NIM

7.89%Q3 ’068.42%Q3 ’075.14%Q3 ’08-8%-65%

Non-interest income vs. expense

2.38%Q3 ’062.67%Q3 ’072.35%Q3 ’08+24%-7%

Executive Summary

  • Earnings: ROA of -3.45%, down 525 bps year over year; NIM at 1.41%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.79%.
  • Funding: loans stand at 97.29% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

-3.45%-525 bps YoY

Net Interest Margin (YTD, annualized)

1.41%-259 bps YoY

Efficiency Ratio (YTD, annualized)

123.09%+6,607 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets1.81%1.33%0.06%-0.46%-3.45%-525 bps
Return on Equity21.23%16.25%0.79%-6.63%-55.34%-7,657 bps
Net Interest Margin4.00%3.42%2.16%1.89%1.41%-259 bps
Efficiency Ratio57.01%62.83%85.96%96.95%123.09%+6,607 bps
Non-Interest Burden1.99%1.94%1.77%1.81%1.85%-13 bps
Growth
Asset Growth (YoY)28.48%35.35%29.11%39.50%28.45%-3 bps
Loan Growth (YoY)26.88%34.83%31.78%34.32%29.27%+239 bps
Deposit Growth (YoY)29.79%34.43%30.89%33.33%31.32%+153 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.13%0.08%0.15%1.79%+175 bps
Allowance / Loans1.11%1.01%1.07%1.16%2.01%+90 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 Capital11.33%10.26%9.93%8.19%6.16%-517 bps
Equity / Assets8.00%7.21%7.40%6.10%4.44%-357 bps
Liquidity & Funding
Loans / Deposits98.84%98.67%102.31%100.46%97.29%-155 bps
Liquid Assets / Assets0.04%0.06%0.05%0.05%0.04%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a