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Piedmont Bank of Georgia

Atlanta, GA · Cert 57219

FDIC

Q3 2008

$375.3MAssets
$276.3MLoans
$234.1MDeposits
$66.6MEquity
Loan mix
92%RE $162.2M8%C&I $14.3M0%Consumer $0.2MQ3 2007Q3 2008
Deposit mix
91%Interest-bearing $212.4M9%Noninterest $21.7MQ3 2007Q3 2008

NIM

7.79%Q3 ’067.27%Q3 ’075.08%Q3 ’08-18%-37%

Non-interest income vs. expense

2.53%Q3 ’062.25%Q3 ’072.24%Q3 ’08-6%+12%

Executive Summary

  • Earnings: ROA of -3.78%, down 414 bps year over year; NIM at 2.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.96%.
  • Funding: loans stand at 118.00% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

-3.78%-414 bps YoY

Net Interest Margin (quarter, annualized)

2.09%-123 bps YoY

Efficiency Ratio (quarter, annualized)

114.56%+5,146 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.36%-1.68%-0.83%-3.38%-3.78%-414 bps
Return on Equity2.05%-9.20%-4.45%-18.14%-20.83%-2,288 bps
Net Interest Margin3.32%2.66%2.41%2.44%2.09%-123 bps
Efficiency Ratio63.10%80.73%88.18%93.16%114.56%+5,146 bps
Non-Interest Burden2.20%2.23%2.22%2.37%2.46%+26 bps
Growth
Asset Growth (YoY)41.91%18.02%16.10%9.23%11.56%-3,035 bps
Loan Growth (YoY)40.49%31.37%22.52%13.51%6.70%-3,379 bps
Deposit Growth (YoY)31.72%19.38%15.17%1.84%0.38%-3,134 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.29%1.83%1.97%1.96%+196 bps
Allowance / Loans1.25%2.12%2.08%3.31%4.67%+342 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 Capital11.45%12.07%12.49%12.50%13.46%+201 bps
Equity / Assets17.75%18.71%18.72%18.59%17.73%-2 bps
Liquidity & Funding
Loans / Deposits111.01%108.75%109.37%114.00%118.00%+699 bps
Liquid Assets / Assets5.80%2.09%0.15%0.09%7.77%+196 bps
CRE / Total Capitaln/an/an/an/an/an/an/a