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First National Bank of Gwinnett

Duluth, GA · Cert 35409

FDIC

Q2 2008

$184.6MAssets
$155.3MLoans
$144.4MDeposits
$35.7MEquity
Loan mix
93%RE $105.1M7%C&I $7.7M0%Consumer $0.3MQ2 2007Q2 2008
Deposit mix
92%Interest-bearing $132.5M8%Noninterest $11.9MQ2 2007Q2 2008

NIM

6.84%Q2 ’067.44%Q2 ’07-3.61%Q2 ’08+1%-129%

Non-interest income vs. expense

2.10%Q2 ’061.80%Q2 ’07-0.79%Q2 ’08-8%-141%

Executive Summary

  • Earnings: ROA of 0.73%, down 37 bps year over year; NIM at -1.06%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.05%.
  • Funding: loans stand at 107.58% of deposits as of Q2 2008.

Financial Results

Return on Assets (quarter, annualized)

0.73%-37 bps YoY

Net Interest Margin (quarter, annualized)

-1.06%-470 bps YoY

Efficiency Ratio (quarter, annualized)

100.57%+5,356 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets1.10%0.96%0.88%-0.67%0.73%-37 bps
Return on Equity6.36%5.78%5.49%-4.28%4.18%-218 bps
Net Interest Margin3.63%3.47%3.00%1.93%-1.06%-470 bps
Efficiency Ratio47.01%47.10%55.14%82.53%100.57%+5,356 bps
Non-Interest Burden1.72%1.62%1.65%1.63%-0.71%-242 bps
Growth
Asset Growth (YoY)11.44%17.88%20.09%15.71%0.07%-1,137 bps
Loan Growth (YoY)12.87%18.53%23.97%25.60%9.02%-386 bps
Deposit Growth (YoY)8.23%18.21%22.13%16.70%6.05%-217 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.01%0.14%0.03%-0.05%-16 bps
Allowance / Loans1.00%1.07%1.02%1.45%8.24%+724 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 Capital10.62%10.37%10.03%10.14%12.23%+161 bps
Equity / Assets17.05%16.27%15.72%15.67%19.36%+231 bps
Liquidity & Funding
Loans / Deposits104.65%102.33%103.14%106.01%107.58%+292 bps
Liquid Assets / Assets0.02%0.57%0.05%0.03%0.03%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a