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Main Street Bank

Northville, MI · Cert 57654

FDIC

Q2 2008

$112.4MAssets
$92.5MLoans
$98.9MDeposits
$2.8MEquity
Loan mix
88%RE $75.4M12%C&I $10.4M0%Consumer $0.1MQ2 2007Q2 2008
Deposit mix
94%Interest-bearing $92.9M6%Noninterest $6.0MQ2 2007Q2 2008

NIM

7.43%Q2 ’067.68%Q2 ’075.51%Q2 ’08-5%-57%

Non-interest income vs. expense

3.81%Q2 ’064.24%Q2 ’074.68%Q2 ’08+6%+42%

Executive Summary

  • Earnings: ROA of -10.98%, down 983 bps year over year; NIM at 1.50%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 13.15%.
  • Funding: loans stand at 93.47% of deposits as of Q2 2008.

Financial Results

Return on Assets (quarter, annualized)

-10.98%-983 bps YoY

Net Interest Margin (quarter, annualized)

1.50%-196 bps YoY

Efficiency Ratio (quarter, annualized)

252%+16,037 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets-1.15%-2.59%-9.01%-9.48%-10.98%-983 bps
Return on Equity-13.37%-31.75%-122.89%-170.63%-308%-29,500 bps
Net Interest Margin3.45%2.69%2.07%1.19%1.50%-196 bps
Efficiency Ratio91.21%109.10%139.87%263%252%+16,037 bps
Non-Interest Burden3.04%3.03%3.29%4.13%4.32%+127 bps
Growth
Asset Growth (YoY)18.33%11.34%-2.73%-15.12%-28.93%-4,726 bps
Loan Growth (YoY)21.83%11.36%-9.93%-21.87%-26.85%-4,868 bps
Deposit Growth (YoY)16.67%8.58%-0.80%-14.92%-30.67%-4,734 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.20%0.93%10.06%8.82%13.15%+1,295 bps
Allowance / Loans1.43%1.94%2.36%2.54%2.10%+68 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 Capital11.88%11.17%8.56%6.81%4.20%-768 bps
Equity / Assets8.33%7.99%6.60%4.47%2.49%-584 bps
Liquidity & Funding
Loans / Deposits88.59%91.23%88.06%81.99%93.47%+488 bps
Liquid Assets / Assets0.01%0.02%0.02%0.02%0.03%+2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a