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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 $3.0MQ3 2013Q2 2015
Deposit mix
78%Interest-bearing $278.2M22%Noninterest $80.6MQ3 2013Q2 2015

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 -0.28%, down 89 bps year over year; NIM at -0.88%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Capital: tier 1 leverage ratio of 10.78%.
  • Funding: loans stand at 66.20% of deposits as of Q2 2015.

Return on Assets (quarter, annualized)

-0.28%-89 bps YoY

Net Interest Margin (quarter, annualized)

-0.88%-386 bps YoY

Efficiency Ratio (quarter, annualized)

70.22%-565 bps YoY

Tier 1 Leverage Ratio

10.78%

NIM

3.78%Q2 ’133.35%Q2 ’14-1.07%Q2 ’15-12%-129%

Non-interest income vs. expense

2.71%Q2 ’132.73%Q2 ’14-0.81%Q2 ’15+7%-128%

Discrete quarter, annualized.

MetricQ3 2013Q4 2013Q1 2014Q2 2014Q3 2014Q4 2014Q1 2015Q2 2015YoY ΔTrend
Earnings
Return on Assets0.86%0.74%0.64%0.61%0.67%0.62%0.64%-0.28%-89 bps
Return on Equity7.98%6.90%6.11%5.86%6.47%6.09%6.35%-2.37%-823 bps
Net Interest Margin3.40%3.20%3.08%2.99%3.03%2.99%2.84%-0.88%-386 bps
Efficiency Ratio66.33%69.94%72.50%75.87%75.07%74.99%72.18%70.22%-565 bps
Non-Interest Burden2.02%2.07%2.11%2.12%2.14%2.09%1.90%-0.59%-271 bps
Growth
Asset Growth (YoY)0.62%3.35%3.28%3.83%6.44%6.13%7.67%2.37%-146 bps
Loan Growth (YoY)3.58%-0.58%-2.53%-5.58%-6.59%-1.81%-1.30%-6.03%-45 bps
Deposit Growth (YoY)1.84%2.00%2.46%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%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.84%0.63%-0.09%0.09%0.64%0.66%0.01%0.11%+2 bps
Allowance / Loans1.83%1.78%1.84%1.86%1.71%1.54%1.54%0.01%-185 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/a9.78%10.78%n/a
Total Risk-Based Capital16.73%17.41%17.54%17.30%17.03%17.11%16.61%17.79%+49 bps
Equity / Assets10.83%10.62%10.39%10.42%10.20%10.15%9.88%14.14%+371 bps
Liquidity & Funding
Loans / Deposits80.65%76.84%74.19%73.24%71.02%71.46%67.30%66.20%-704 bps
Liquid Assets / Assets2.86%6.25%10.83%1.50%0.14%3.09%7.09%2.34%+84 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a