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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

9.16%Q3 ’068.80%Q3 ’074.57%Q3 ’08-14%-80%

Non-interest income vs. expense

2.69%Q3 ’062.84%Q3 ’072.73%Q3 ’08-3%+2%

Executive Summary

  • Earnings: ROA of -8.93%, down 1,046 bps year over year; NIM at 0.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 5.09%.
  • Funding: loans stand at 97.29% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

-8.93%-1,046 bps YoY

Net Interest Margin (quarter, annualized)

0.83%-331 bps YoY

Efficiency Ratio (quarter, annualized)

214%+15,408 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets1.54%0.17%0.06%-0.95%-8.93%-1,046 bps
Return on Equity18.59%2.19%0.79%-14.23%-169.49%-18,807 bps
Net Interest Margin4.13%3.26%2.16%1.71%0.83%-331 bps
Efficiency Ratio59.97%81.74%85.96%109.97%214%+15,408 bps
Non-Interest Burden2.23%2.58%1.77%1.94%2.28%+5 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 / Loans0.00%0.40%0.08%0.22%5.09%+509 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