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First National Bank

Fairfield, TX · Cert 5541

FDIC

Q1 2008

$116.1MAssets
$61.2MLoans
$101.2MDeposits
$13.6MEquity
Loan mix
83%RE $33.6M17%C&I $6.8M1%Consumer $0.2MQ1 2007Q1 2008
Deposit mix
73%Interest-bearing $73.4M27%Noninterest $27.8MQ1 2007Q1 2008

NIM

5.33%Q1 ’065.57%Q1 ’075.36%Q1 ’08-4%+1%

Non-interest income vs. expense

3.09%Q1 ’062.90%Q1 ’072.79%Q1 ’08-7%-27%

Executive Summary

  • Earnings: ROA of 1.67%, up 50 bps year over year; NIM at 3.68%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.25%.
  • Funding: loans stand at 60.48% of deposits as of Q1 2008.

Financial Results

Return on Assets (YTD, annualized)

1.67%+50 bps YoY

Net Interest Margin (YTD, annualized)

3.68%+4 bps YoY

Efficiency Ratio (YTD, annualized)

56.25%-878 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets1.16%1.17%1.18%1.24%1.67%+50 bps
Return on Equity11.19%11.06%10.91%11.32%14.19%+300 bps
Net Interest Margin3.64%3.66%3.83%3.85%3.68%+4 bps
Efficiency Ratio65.04%64.88%70.76%67.54%56.25%-878 bps
Non-Interest Burden2.08%2.06%2.43%2.29%1.51%-57 bps
Growth
Asset Growth (YoY)5.87%0.05%-0.65%0.27%-6.79%-1,265 bps
Loan Growth (YoY)11.84%9.09%6.50%5.48%7.18%-465 bps
Deposit Growth (YoY)5.39%-1.19%2.02%-1.81%-8.84%-1,423 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.01%0.10%0.10%0.25%+23 bps
Allowance / Loans2.39%2.37%1.85%1.79%1.69%-70 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 Capital19.84%20.41%20.84%21.27%19.58%-27 bps
Equity / Assets10.03%10.83%11.51%11.78%11.69%+167 bps
Liquidity & Funding
Loans / Deposits51.44%55.82%58.18%58.40%60.48%+904 bps
Liquid Assets / Assets0.07%0.08%0.07%0.09%0.07%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a