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First National Bank

Lenoir City, TN · Cert 4947

FDIC · 10 branches

Q2 2015

$420.5MAssets
$237.6MLoans
$358.8MDeposits
$59.5MEquity
Loan mix
88%RE $175.0M11%C&I $21.0M1%Consumer $3.0MQ2 2014Q2 2015
Deposit mix
78%Interest-bearing $278.2M22%Noninterest $80.6MQ2 2014Q2 2015

NIM

3.74%Q2 ’133.36%Q2 ’141.01%Q2 ’15-11%-67%

Non-interest income vs. expense

2.66%Q2 ’132.62%Q2 ’140.76%Q2 ’15+7%-70%

Market Position · Knoxville, TN · 2015 SOD (annual) · 2.2% share · #8 of 51 inst. · $0.3B of $15.1B

35.8% Loudon
0.5% Knox
1.7% Bradley
1.1% Blount

Executive Summary

  • Earnings: ROA of 0.18%, down 45 bps year over year; NIM at 0.98%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Capital: tier 1 leverage ratio of 10.78%.
  • Funding: loans stand at 66.20% of deposits as of Q2 2015.

Financial Results

Return on Assets (YTD, annualized)

0.18%-45 bps YoY

Net Interest Margin (YTD, annualized)

0.98%-202 bps YoY

Efficiency Ratio (YTD, annualized)

61.50%-1,272 bps YoY

Tier 1 Leverage Ratio

10.78%

Year to date, annualized, through each quarter.

MetricQ2 2014Q3 2014Q4 2014Q1 2015Q2 2015YoY ΔTrend
Earnings
Return on Assets0.63%0.64%0.64%0.64%0.18%-45 bps
Return on Equity5.99%6.15%6.13%6.35%1.57%-441 bps
Net Interest Margin3.01%3.01%2.98%2.84%0.98%-202 bps
Efficiency Ratio74.22%74.50%74.63%72.18%61.50%-1,272 bps
Non-Interest Burden2.09%2.11%2.08%1.90%0.63%-147 bps
Growth
Asset Growth (YoY)3.83%6.44%6.13%7.67%2.37%-146 bps
Loan Growth (YoY)-5.58%-6.59%-1.81%-1.30%-6.03%-45 bps
Deposit Growth (YoY)2.91%6.08%5.58%8.82%3.96%+105 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.21%0.32%0.01%0.06%+6 bps
Allowance / Loans1.86%1.71%1.54%1.54%0.01%-185 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/a9.78%10.78%n/a
Total Risk-Based Capital17.30%17.03%17.11%16.61%17.79%+49 bps
Equity / Assets10.42%10.20%10.15%9.88%14.14%+371 bps
Liquidity & Funding
Loans / Deposits73.24%71.02%71.46%67.30%66.20%-704 bps
Liquid Assets / Assets1.50%0.14%3.09%7.09%2.34%+84 bps
CRE / Total Capitaln/an/an/an/an/an/an/a