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Covenant Bank

Clarksdale, MS · Cert 57039

FDIC · 5 branches

Q4 2015

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2015, the quarter ended December 31, 2015, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Covenant Bank

Clarksdale, MS · Cert 57039

FDIC · 5 branches

Q4 2015

$222.1MAssets
$174.9MLoans
$170.8MDeposits
$25.1MEquity
Loan mix
69%RE $100.7M27%C&I $38.8M4%Consumer $6.4MQ4 2014Q4 2015
Deposit mix
68%Interest-bearing $115.7M32%Noninterest $55.1MQ4 2014Q4 2015

NIM

4.14%Q4 ’134.09%Q4 ’144.14%Q4 ’15+1%+3%

Non-interest income vs. expense

3.69%Q4 ’133.64%Q4 ’144.16%Q4 ’15-8%+18%

Market Position · Memphis, TN-MS-AR · 2015 SOD (annual) · 0.2% share · #43 of 56 inst. · $0.1B of $27.0B

20.4% Coahoma
31.1% Tunica
1.0% DeSoto
4.0% Panola

Executive Summary

  • Earnings: ROA of 0.28%, up 5 bps year over year; NIM at 3.81%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.65%.
  • Capital: tier 1 leverage ratio of 11.00%.
  • Funding: loans stand at 102.38% of deposits as of Q4 2015.

Financial Results

Return on Assets (YTD, annualized)

0.28%+5 bps YoY

Net Interest Margin (YTD, annualized)

3.81%+11 bps YoY

Efficiency Ratio (YTD, annualized)

86.35%+860 bps YoY

Tier 1 Leverage Ratio

11.00%

Year to date, annualized, through each quarter.

MetricQ4 2014Q1 2015Q2 2015Q3 2015Q4 2015YoY ΔTrend
Earnings
Return on Assets0.24%0.32%0.13%0.29%0.28%+5 bps
Return on Equity2.19%2.80%1.13%2.56%2.52%+33 bps
Net Interest Margin3.70%3.69%3.73%3.74%3.81%+11 bps
Efficiency Ratio77.76%88.26%85.15%83.11%86.35%+860 bps
Non-Interest Burden2.65%3.14%3.02%2.93%3.14%+48 bps
Growth
Asset Growth (YoY)-0.51%-5.56%-8.39%-1.84%-2.19%-168 bps
Loan Growth (YoY)2.13%0.04%0.02%5.19%2.14%+1 bps
Deposit Growth (YoY)-0.22%-6.60%-8.32%-3.63%-9.81%-959 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.20%0.36%0.53%0.36%0.65%-55 bps
Allowance / Loans1.39%1.41%1.52%1.60%1.18%-21 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/a10.91%10.94%10.95%11.00%n/a
Total Risk-Based Capital12.81%14.08%13.66%13.77%13.55%+74 bps
Equity / Assets11.07%11.44%11.26%11.40%11.30%+23 bps
Liquidity & Funding
Loans / Deposits90.41%90.41%96.29%99.80%102.38%+1,197 bps
Liquid Assets / Assets4.27%5.93%3.53%3.25%3.41%-86 bps
CRE / Total Capitaln/an/an/an/an/an/an/a