PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Cardinal State Bank

Durham, NC · Cert 57172

FDIC

Q4 2007

$198.1MAssets
$153.6MLoans
$170.1MDeposits
$20.8MEquity
Loan mix
86%RE $104.7M14%C&I $17.2M0%Consumer $0.4MQ4 2006Q4 2007
Deposit mix
92%Interest-bearing $156.8M8%Noninterest $13.2MQ4 2006Q4 2007

NIM

6.31%Q4 ’056.98%Q4 ’066.42%Q4 ’07-4%-18%

Non-interest income vs. expense

3.21%Q4 ’053.28%Q4 ’064.24%Q4 ’07+4%+31%

Executive Summary

  • Earnings: ROA of -1.19%, down 153 bps year over year; NIM at 2.91%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.43%.
  • Funding: loans stand at 90.30% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

-1.19%-153 bps YoY

Net Interest Margin (quarter, annualized)

2.91%-62 bps YoY

Efficiency Ratio (quarter, annualized)

135.50%+4,814 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.34%0.61%0.40%3.26%-1.19%-153 bps
Return on Equity3.22%6.06%4.02%31.24%-11.18%-1,440 bps
Net Interest Margin3.53%3.42%3.41%3.23%2.91%-62 bps
Efficiency Ratio87.36%97.24%89.38%99.52%135.50%+4,814 bps
Non-Interest Burden3.06%3.32%3.02%3.21%4.02%+96 bps
Growth
Asset Growth (YoY)15.61%12.33%9.67%10.86%4.54%-1,108 bps
Loan Growth (YoY)15.05%3.24%-0.35%2.07%-0.55%-1,560 bps
Deposit Growth (YoY)17.54%13.41%10.34%10.70%5.70%-1,185 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%-0.05%0.05%0.00%0.43%+13 bps
Allowance / Loans1.24%1.10%1.10%1.13%1.29%+4 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 Capital13.34%13.56%13.75%14.42%14.47%+113 bps
Equity / Assets10.01%10.01%10.13%10.71%10.51%+50 bps
Liquidity & Funding
Loans / Deposits95.97%94.28%92.73%92.09%90.30%-568 bps
Liquid Assets / Assets8.70%7.31%7.38%7.74%10.86%+216 bps
CRE / Total Capitaln/an/an/an/an/an/an/a