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Longleaf Community Bank

Rockingham, NC · Cert 57544

FDIC

Q1 2008

$62.7MAssets
$47.8MLoans
$52.5MDeposits
$7.6MEquity
Loan mix
91%RE $40.1M9%C&I $3.8M1%Consumer $0.3MQ1 2007Q1 2008
Deposit mix
93%Interest-bearing $48.9M7%Noninterest $3.6MQ1 2007Q1 2008

NIM

6.49%Q1 ’066.77%Q1 ’076.64%Q1 ’08-6%-6%

Non-interest income vs. expense

4.00%Q1 ’064.50%Q1 ’074.15%Q1 ’08+5%+3%

Executive Summary

  • Earnings: ROA of -0.38%, down 11 bps year over year; NIM at 3.03%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 91.03% of deposits as of Q1 2008.

Financial Results

Return on Assets (quarter, annualized)

-0.38%-11 bps YoY

Net Interest Margin (quarter, annualized)

3.03%-21 bps YoY

Efficiency Ratio (quarter, annualized)

108.90%+820 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets-0.27%-0.74%-0.37%-2.75%-0.38%-11 bps
Return on Equity-1.68%-4.79%-2.57%-20.63%-3.06%-138 bps
Net Interest Margin3.24%3.30%3.49%2.99%3.03%-21 bps
Efficiency Ratio100.70%113.65%99.18%143.75%108.90%+820 bps
Non-Interest Burden3.27%3.92%3.45%4.66%3.37%+10 bps
Growth
Asset Growth (YoY)-0.04%10.34%16.02%15.44%24.73%+2,477 bps
Loan Growth (YoY)2.56%10.45%17.93%31.59%26.92%+2,436 bps
Deposit Growth (YoY)-1.18%12.06%16.93%11.78%28.91%+3,008 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.01%0.11%0.60%0.00%-2 bps
Allowance / Loans1.20%1.16%1.18%1.27%1.26%+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 Capital21.06%19.54%18.70%16.54%15.84%-521 bps
Equity / Assets16.12%14.89%13.79%12.86%12.10%-403 bps
Liquidity & Funding
Loans / Deposits92.45%90.94%91.91%100.89%91.03%-142 bps
Liquid Assets / Assets4.07%2.82%2.73%2.71%2.74%-133 bps
CRE / Total Capitaln/an/an/an/an/an/an/a