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Letter portraitLegal landscapeQuarterYTD

National Bank of Hastings

Hastings, MI · Cert 5026

FDIC

Q3 2002

$65.2MAssets
$52.3MLoans
$51.8MDeposits
$5.0MEquity
Loan mix
80%RE $18.4M20%C&I $4.6M0%Consumer $0.1MQ3 2001Q3 2002
Deposit mix
76%Interest-bearing $39.6M24%Noninterest $12.3MQ3 2001Q3 2002

NIM

7.96%Q1 ’017.84%Q3 ’017.10%Q3 ’02+2%-1%

Non-interest income vs. expense

3.16%Q1 ’013.00%Q3 ’012.98%Q3 ’02-13%+6%

Executive Summary

  • Earnings: ROA of 1.71%, down 27 bps year over year; NIM at 5.11%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.26%.
  • Funding: loans stand at 100.98% of deposits as of Q3 2002.

Financial Results

Return on Assets (YTD, annualized)

1.71%-27 bps YoY

Net Interest Margin (YTD, annualized)

5.11%-7 bps YoY

Efficiency Ratio (YTD, annualized)

50.71%+155 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2001Q4 2001Q1 2002Q2 2002Q3 2002YoY ΔTrend
Earnings
Return on Assets1.98%1.97%1.85%1.70%1.71%-27 bps
Return on Equityn/an/a23.08%21.45%21.78%n/a
Net Interest Margin5.19%5.31%5.31%5.20%5.11%-7 bps
Efficiency Ratio49.16%48.89%50.64%52.29%50.71%+155 bps
Non-Interest Burden2.09%2.13%2.31%2.38%2.21%+13 bps
Growth
Asset Growth (YoY)-2.00%-2.59%-1.51%5.21%5.68%+768 bps
Loan Growth (YoY)2.76%1.44%3.50%9.29%8.32%+556 bps
Deposit Growth (YoY)0.43%-3.99%-1.14%-2.55%-4.46%-489 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.08%0.11%0.28%0.19%0.26%+18 bps
Allowance / Loans1.44%1.43%1.43%1.41%1.36%-8 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 Capital11.46%11.64%11.82%11.39%11.44%-2 bps
Equity / Assets7.97%8.01%8.03%7.69%7.72%-25 bps
Liquidity & Funding
Loans / Deposits89.07%94.61%91.33%98.59%100.98%+1,191 bps
Liquid Assets / Assets0.46%0.44%0.44%0.30%0.30%-16 bps
CRE / Total Capitaln/an/an/an/an/an/an/a