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New Horizons Bank

East Ellijay, GA · Cert 57705

FDIC

Q1 2011

$103.1MAssets
$70.3MLoans
$99.0MDeposits
$-49KEquity
Loan mix
92%RE $59.4M4%C&I $2.8M4%Consumer $2.4MQ1 2010Q1 2011
Deposit mix
95%Interest-bearing $94.2M5%Noninterest $4.9MQ1 2010Q1 2011

NIM

5.40%Q1 ’094.45%Q1 ’103.46%Q1 ’11+4%-20%

Non-interest income vs. expense

2.26%Q1 ’092.69%Q1 ’103.46%Q1 ’11+44%+32%

Executive Summary

  • Earnings: ROA of -1.87%, down 72 bps year over year; NIM at 1.94%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.24%.
  • Funding: loans stand at 71.02% of deposits as of Q1 2011.

Financial Results

Return on Assets (quarter, annualized)

-1.87%-72 bps YoY

Net Interest Margin (quarter, annualized)

1.94%-49 bps YoY

Efficiency Ratio (quarter, annualized)

220%+9,880 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2010Q2 2010Q3 2010Q4 2010Q1 2011YoY ΔTrend
Earnings
Return on Assets-1.15%-2.64%-8.15%-11.42%-1.87%-72 bps
Return on Equity-20.22%-49.07%-194.39%-606%-919%-89,905 bps
Net Interest Margin2.44%2.47%2.32%2.59%1.94%-49 bps
Efficiency Ratio120.77%314%117.33%137.97%220%+9,880 bps
Non-Interest Burden2.90%4.62%2.75%3.62%3.83%+93 bps
Growth
Asset Growth (YoY)-7.34%-2.82%-4.30%-11.68%-17.02%-968 bps
Loan Growth (YoY)-6.02%-3.35%-13.27%-19.43%-26.56%-2,054 bps
Deposit Growth (YoY)-5.60%-0.07%0.58%-6.08%-11.62%-602 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.34%1.50%16.16%14.13%1.24%+90 bps
Allowance / Loans3.31%3.09%2.09%2.76%2.69%-62 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 Capital8.44%7.65%5.24%0.75%-0.24%-867 bps
Equity / Assets5.64%5.12%3.23%0.44%-0.05%-569 bps
Liquidity & Funding
Loans / Deposits85.47%85.60%78.98%71.86%71.02%-1,445 bps
Liquid Assets / Assets6.48%6.46%7.70%10.22%6.80%+32 bps
CRE / Total Capitaln/an/an/an/an/an/an/a