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Summit Community Bank

East Lansing, MI · Cert 57401

FDIC

Q1 2014

$154.1MAssets
$130.9MLoans
$119.3MDeposits
$16.7MEquity
Loan mix
86%RE $96.1M13%C&I $14.8M1%Consumer $0.6MQ1 2013Q1 2014
Deposit mix
78%Interest-bearing $93.4M22%Noninterest $25.9MQ1 2013Q1 2014

NIM

4.27%Q1 ’124.42%Q1 ’134.36%Q1 ’14+11%+1%

Non-interest income vs. expense

5.31%Q1 ’126.44%Q1 ’135.27%Q1 ’14-8%+14%

Executive Summary

  • Earnings: ROA of 0.99%, down 4 bps year over year; NIM at 3.91%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.53%.
  • Funding: loans stand at 109.71% of deposits as of Q1 2014.

Financial Results

Return on Assets (quarter, annualized)

0.99%-4 bps YoY

Net Interest Margin (quarter, annualized)

3.91%+4 bps YoY

Efficiency Ratio (quarter, annualized)

77.71%-74 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2013Q2 2013Q3 2013Q4 2013Q1 2014YoY ΔTrend
Earnings
Return on Assets1.03%1.35%1.15%1.11%0.99%-4 bps
Return on Equity10.56%13.68%11.39%10.69%9.26%-130 bps
Net Interest Margin3.87%3.79%3.84%3.67%3.91%+4 bps
Efficiency Ratio78.46%72.98%76.34%74.46%77.71%-74 bps
Non-Interest Burden2.10%1.51%1.99%1.90%2.40%+30 bps
Growth
Asset Growth (YoY)-2.06%1.02%-3.09%-0.64%-3.76%-170 bps
Loan Growth (YoY)13.47%4.07%-4.09%0.96%-1.87%-1,534 bps
Deposit Growth (YoY)-9.00%0.33%0.23%6.23%-0.31%+868 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.17%0.63%0.16%0.47%0.53%+36 bps
Allowance / Loans1.47%1.34%1.36%1.23%1.16%-31 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 Capital14.11%14.35%14.44%14.59%15.30%+118 bps
Equity / Assets9.84%9.90%10.27%10.47%10.86%+102 bps
Liquidity & Funding
Loans / Deposits111.45%108.45%105.24%109.00%109.71%-174 bps
Liquid Assets / Assets1.71%1.88%3.15%1.81%8.14%+643 bps
CRE / Total Capitaln/an/an/an/an/an/an/a