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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

6.61%Q4 ’057.55%Q4 ’067.21%Q4 ’07+4%-18%

Non-interest income vs. expense

3.04%Q4 ’052.52%Q4 ’062.67%Q4 ’07-17%+8%

Executive Summary

  • Earnings: ROA of 0.61%, down 22 bps year over year; NIM at 3.44%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.22%.
  • Funding: loans stand at 109.95% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

0.61%-22 bps YoY

Net Interest Margin (quarter, annualized)

3.44%-75 bps YoY

Efficiency Ratio (quarter, annualized)

73.79%+1,656 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.83%1.06%0.84%0.49%0.61%-22 bps
Return on Equity7.72%9.00%6.46%3.82%4.64%-308 bps
Net Interest Margin4.19%4.05%3.94%3.74%3.44%-75 bps
Efficiency Ratio57.24%60.14%62.74%74.94%73.79%+1,656 bps
Non-Interest Burden2.31%2.36%2.42%2.76%2.49%+19 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 / Loans0.10%0.07%0.03%0.00%0.22%+12 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