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Carolina National Bank and Trust Company

Columbia, SC · Cert 57355

FDIC

Q4 2007

$220.5MAssets
$206.2MLoans
$187.6MDeposits
$29.6MEquity
Loan mix
87%RE $139.0M13%C&I $20.8M0%Consumer $0.2MQ4 2006Q4 2007
Deposit mix
91%Interest-bearing $171.4M9%Noninterest $16.2MQ4 2006Q4 2007

NIM

5.18%Q4 ’056.58%Q4 ’067.23%Q4 ’07+20%-5%

Non-interest income vs. expense

2.52%Q4 ’052.27%Q4 ’062.61%Q4 ’07-9%+18%

Executive Summary

  • Earnings: ROA of 0.75%, down 31 bps year over year; NIM at 3.69%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.08%.
  • Funding: loans stand at 109.95% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

0.75%-31 bps YoY

Net Interest Margin (YTD, annualized)

3.69%-20 bps YoY

Efficiency Ratio (YTD, annualized)

67.76%+1,224 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets1.06%1.06%0.95%0.79%0.75%-31 bps
Return on Equity9.60%9.00%7.79%6.43%5.97%-363 bps
Net Interest Margin3.89%4.05%3.95%3.77%3.69%-20 bps
Efficiency Ratio55.52%60.14%61.43%65.91%67.76%+1,224 bps
Non-Interest Burden2.07%2.36%2.36%2.43%2.44%+37 bps
Growth
Asset Growth (YoY)26.72%20.39%24.00%16.30%5.68%-2,104 bps
Loan Growth (YoY)40.03%27.59%22.97%16.19%5.96%-3,407 bps
Deposit Growth (YoY)28.13%18.45%22.79%14.46%1.94%-2,619 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.07%0.05%0.03%0.08%+5 bps
Allowance / Loans1.25%1.22%1.22%1.27%1.20%-5 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 Capital12.14%15.13%14.96%14.98%14.80%+265 bps
Equity / Assets10.53%13.06%12.86%12.85%13.43%+290 bps
Liquidity & Funding
Loans / Deposits105.78%103.86%104.06%103.82%109.95%+417 bps
Liquid Assets / Assets0.40%0.35%0.34%0.35%3.55%+315 bps
CRE / Total Capitaln/an/an/an/an/an/an/a