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First National Bank of Lafollette

La Follette, TN · Cert 4944

FDIC

Q4 2010

$193.7MAssets
$119.1MLoans
$173.3MDeposits
$17.3MEquity
Loan mix
89%RE $78.3M11%C&I $10.0M0%Consumer $0.0MQ4 2009Q4 2010
Deposit mix
87%Interest-bearing $151.4M13%Noninterest $21.9MQ4 2009Q4 2010

NIM

6.13%Q4 ’085.27%Q4 ’095.15%Q4 ’10+1%+1%

Non-interest income vs. expense

4.11%Q4 ’083.55%Q4 ’093.73%Q4 ’10-10%+1%

Executive Summary

  • Earnings: ROA of 0.79%, up 28 bps year over year; NIM at 3.94%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.20%.
  • Funding: loans stand at 68.74% of deposits as of Q4 2010.

Financial Results

Return on Assets (quarter, annualized)

0.79%+28 bps YoY

Net Interest Margin (quarter, annualized)

3.94%+6 bps YoY

Efficiency Ratio (quarter, annualized)

81.00%+40 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets0.51%-2.32%0.06%0.81%0.79%+28 bps
Return on Equity5.81%-27.25%0.70%9.22%8.78%+297 bps
Net Interest Margin3.88%3.96%4.05%3.90%3.94%+6 bps
Efficiency Ratio80.60%104.18%80.27%79.96%81.00%+40 bps
Non-Interest Burden3.02%4.16%3.09%2.86%3.06%+4 bps
Growth
Asset Growth (YoY)-6.32%-8.09%-4.95%-2.17%3.35%+966 bps
Loan Growth (YoY)-8.23%-8.65%-8.68%-7.56%-8.64%-41 bps
Deposit Growth (YoY)-7.05%-9.60%-4.77%-2.78%3.18%+1,022 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.12%3.37%0.47%0.51%-0.20%-132 bps
Allowance / Loans2.12%2.09%2.37%2.38%0.00%-212 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 Capital14.38%13.90%13.93%14.59%13.78%-60 bps
Equity / Assets8.64%8.37%8.57%9.03%8.93%+29 bps
Liquidity & Funding
Loans / Deposits77.63%78.46%77.38%76.48%68.74%-889 bps
Liquid Assets / Assets2.72%4.00%5.78%7.21%13.52%+1,081 bps
CRE / Total Capitaln/an/an/an/an/an/an/a