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First Charter National Bank

Concord, NC · Cert 4886

FDIC

Q1 2008

$4.8BAssets
$3.5BLoans
$3.3BDeposits
$501.5MEquity
Loan mix
91%RE $3.1B9%C&I $0.3B0%Consumer $0.0BQ1 2007Q1 2008
Deposit mix
95%Interest-bearing $3.1B5%Noninterest $0.2BQ1 2007Q1 2008

NIM

5.66%Q1 ’066.41%Q1 ’075.70%Q1 ’08+0%-10%

Non-interest income vs. expense

2.98%Q1 ’062.97%Q1 ’072.78%Q1 ’08+6%-8%

Executive Summary

  • Earnings: ROA of 0.51%, down 62 bps year over year; NIM at 2.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.24%.
  • Funding: loans stand at 106.98% of deposits as of Q1 2008.

Financial Results

Return on Assets (quarter, annualized)

0.51%-62 bps YoY

Net Interest Margin (quarter, annualized)

2.83%-32 bps YoY

Efficiency Ratio (quarter, annualized)

63.13%+139 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets1.14%0.81%0.98%0.82%0.51%-62 bps
Return on Equity12.38%8.25%9.84%7.98%4.94%-744 bps
Net Interest Margin3.15%3.18%3.18%3.05%2.83%-32 bps
Efficiency Ratio61.75%58.89%61.71%62.46%63.13%+139 bps
Non-Interest Burden1.34%1.22%1.40%1.31%1.24%-10 bps
Growth
Asset Growth (YoY)14.04%13.57%10.38%10.46%-1.87%-1,591 bps
Loan Growth (YoY)17.35%15.73%12.41%11.42%-1.36%-1,871 bps
Deposit Growth (YoY)18.79%10.50%8.97%11.25%-2.85%-2,165 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.02%0.58%0.77%0.24%+19 bps
Allowance / Loans1.01%1.26%1.23%1.21%1.29%+28 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 Capital10.97%11.20%11.60%11.53%11.85%+87 bps
Equity / Assets9.84%9.79%10.17%10.29%10.48%+63 bps
Liquidity & Funding
Loans / Deposits105.36%107.37%107.57%106.40%106.98%+162 bps
Liquid Assets / Assets0.09%0.10%0.08%0.12%0.28%+19 bps
CRE / Total Capitaln/an/an/an/an/an/an/a