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Letter portraitLegal landscapeQuarterYTD

Citizens Financial Bank, Inc.

Glasgow, KY · Cert 57028

FDIC

Q4 2004

$38.2MAssets
$29.5MLoans
$31.8MDeposits
$4.0MEquity
Loan mix
78%RE $14.7M21%C&I $4.0M0%Consumer $0.1MQ1 2003Q4 2004
Deposit mix
91%Interest-bearing $28.8M9%Noninterest $3.0MQ1 2003Q4 2004

Executive Summary

  • Earnings: ROA of -0.01%, down 80 bps year over year; NIM at 2.89%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.31%.
  • Funding: loans stand at 92.76% of deposits as of Q4 2004.

Return on Assets (YTD, annualized)

-0.01%-80 bps YoY

Net Interest Margin (YTD, annualized)

2.89%+21 bps YoY

Efficiency Ratio (YTD, annualized)

94.26%+1,117 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

4.22%Q4 ’025.12%Q4 ’035.85%Q4 ’04+26%+8%

Non-interest income vs. expense

2.92%Q4 ’022.62%Q4 ’033.24%Q4 ’04-16%+25%

Year to date, annualized, through each quarter.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets-0.49%-0.73%0.95%0.79%-0.10%-0.04%-0.04%-0.01%-80 bps
Return on Equity-4.28%-6.81%9.15%7.69%-1.09%-0.45%-0.43%-0.15%-784 bps
Net Interest Margin3.08%2.83%2.71%2.68%2.70%2.43%2.48%2.89%+21 bps
Efficiency Ratio93.33%84.97%83.47%83.09%94.25%95.40%94.76%94.26%+1,117 bps
Non-Interest Burden2.84%2.34%2.18%2.15%2.52%2.29%2.32%2.69%+54 bps
Growth
Asset Growth (YoY)84.42%63.77%47.49%38.24%26.58%13.21%1.06%-9.38%-4,761 bps
Loan Growth (YoY)106.63%96.86%64.19%56.24%17.66%-2.87%-8.81%-15.68%-7,192 bps
Deposit Growth (YoY)105.98%71.00%46.84%35.99%23.57%11.71%-2.12%-12.06%-4,806 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 / Loans0.00%0.01%0.05%0.09%1.00%0.52%0.39%0.31%+21 bps
Allowance / Loans1.03%1.38%1.79%1.78%1.68%1.80%1.86%2.02%+24 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/an/an/an/an/a
Total Risk-Based Capital14.54%12.82%12.10%12.15%12.49%12.88%13.32%14.18%+203 bps
Equity / Assets10.66%9.40%9.77%9.56%9.16%8.99%9.75%10.54%+99 bps
Liquidity & Funding
Loans / Deposits91.41%96.01%97.96%96.75%87.03%83.48%91.27%92.76%-398 bps
Liquid Assets / Assets2.13%1.57%1.37%1.27%0.99%1.03%0.05%0.05%-123 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a