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Primetrust Bank

Bellevue, TN · Cert 57271

FDIC

Q4 2007

$717.1MAssets
$503.4MLoans
$523.3MDeposits
$123.8MEquity
Loan mix
72%RE $287.9M27%C&I $109.4M0%Consumer $1.2MQ4 2006Q4 2007
Deposit mix
97%Interest-bearing $507.5M3%Noninterest $15.9MQ4 2006Q4 2007

NIM

6.53%Q4 ’057.18%Q4 ’06-15.15%Q4 ’07-6%-299%

Non-interest income vs. expense

3.38%Q4 ’053.57%Q4 ’06-6.62%Q4 ’07+23%-268%

Executive Summary

  • Earnings: ROA of -0.89%, down 84 bps year over year; NIM at -6.46%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.05%.
  • Funding: loans stand at 96.19% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

-0.89%-84 bps YoY

Net Interest Margin (quarter, annualized)

-6.46%-972 bps YoY

Efficiency Ratio (quarter, annualized)

51.33%-3,729 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets-0.05%0.47%0.59%0.53%-0.89%-84 bps
Return on Equity-0.58%5.73%7.51%6.84%-6.84%-626 bps
Net Interest Margin3.25%3.06%3.10%3.21%-6.46%-972 bps
Efficiency Ratio88.62%81.90%74.05%70.17%51.33%-3,729 bps
Non-Interest Burden2.79%2.35%2.07%2.02%-4.70%-749 bps
Growth
Asset Growth (YoY)25.35%20.69%24.04%24.06%36.44%+1,109 bps
Loan Growth (YoY)26.01%26.19%28.65%32.26%29.83%+382 bps
Deposit Growth (YoY)25.69%16.87%19.65%18.01%15.97%-972 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.32%0.00%0.03%0.03%-0.05%-37 bps
Allowance / Loans1.11%1.06%1.05%1.06%1.04%-6 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 Capital10.42%10.33%10.32%10.18%10.11%-31 bps
Equity / Assets8.22%8.19%7.62%8.00%17.26%+904 bps
Liquidity & Funding
Loans / Deposits85.93%88.53%87.49%93.95%96.19%+1,027 bps
Liquid Assets / Assets0.48%0.51%0.44%0.39%0.85%+37 bps
CRE / Total Capitaln/an/an/an/an/an/an/a