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Letter portraitLegal landscapeQuarterYTD

First National Bank of Lerna, The

Lerna, IL · Cert 3694

FDIC

Q4 2004

$8.6MAssets
$2.9MLoans
$6.8MDeposits
$1.8MEquity
Deposit mix
79%Interest-bearing $5.4M21%Noninterest $1.4MQ4 2003Q4 2004

NIM

6.05%Q4 ’025.42%Q4 ’035.35%Q4 ’04-4%+3%

Non-interest income vs. expense

3.61%Q4 ’023.52%Q4 ’033.73%Q4 ’04+1%+3%

Executive Summary

  • Earnings: ROA of 1.41%, down 64 bps year over year; NIM at 4.41%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.36%.
  • Funding: loans stand at 43.30% of deposits as of Q4 2004.

Financial Results

Return on Assets (YTD, annualized)

1.41%-64 bps YoY

Net Interest Margin (YTD, annualized)

4.41%+15 bps YoY

Efficiency Ratio (YTD, annualized)

70.33%+50 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets2.05%1.13%1.42%1.50%1.41%-64 bps
Return on Equity10.95%5.96%7.40%7.72%7.12%-383 bps
Net Interest Margin4.26%4.03%4.18%4.28%4.41%+15 bps
Efficiency Ratio69.83%74.31%68.72%66.76%70.33%+50 bps
Non-Interest Burden2.74%2.82%2.62%2.55%2.83%+9 bps
Growth
Asset Growth (YoY)8.97%5.22%-3.65%-3.43%-5.46%-1,443 bps
Loan Growth (YoY)-3.17%-9.95%-13.89%-10.13%-11.79%-862 bps
Deposit Growth (YoY)4.27%3.89%-4.78%-5.66%-4.49%-875 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.08%0.00%-0.07%0.13%1.36%+28 bps
Allowance / Loans2.94%3.13%3.27%3.16%1.97%-97 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 Capital24.92%25.54%26.78%27.50%27.77%+285 bps
Equity / Assets18.80%19.26%19.54%20.44%20.84%+204 bps
Liquidity & Funding
Loans / Deposits46.89%42.49%43.88%43.31%43.30%-358 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a