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Independence National Bank

Greenville, SC · Cert 57951

FDIC · 3 branches

Q4 2017

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2017, the quarter ended December 31, 2017, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-10

Independence National Bank

Greenville, SC · Cert 57951

FDIC · 3 branches

Q4 2017

$82.4MAssets
$54.5MLoans
$74.8MDeposits
$7.4MEquity
Loan mix
60%RE $25.3M29%C&I $12.5M11%Consumer $4.7MQ4 2016Q4 2017
Deposit mix
84%Interest-bearing $63.0M16%Noninterest $11.9MQ4 2016Q4 2017

NIM

3.68%Q4 ’153.83%Q4 ’164.20%Q4 ’17+4%+8%

Non-interest income vs. expense

4.08%Q4 ’155.01%Q4 ’165.27%Q4 ’17+17%-1%

Market Position · Greenville-Anderson-Mauldin, SC · 2017 SOD (annual) · 0.5% share · #24 of 35 inst. · $0.1B of $16.7B

Executive Summary

  • Earnings: ROA of -1.05%, up 33 bps year over year; NIM at 3.74%.
  • Asset quality: problem loans at 1.13% of loans (+113 bps YoY), with net charge-offs at 0.28%.
  • Capital: tier 1 leverage ratio of 8.77%, down 23 bps from a year ago.
  • Funding: loans stand at 72.87% of deposits as of Q4 2017.

Financial Results

Return on Assets (YTD, annualized)

-1.05%+33 bps YoY

Net Interest Margin (YTD, annualized)

3.74%+26 bps YoY

Efficiency Ratio (YTD, annualized)

122.20%-1,123 bps YoY

Tier 1 Leverage Ratio

8.77%-23 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2016Q1 2017Q2 2017Q3 2017Q4 2017YoY ΔTrend
Earnings
Return on Assets-1.38%-2.34%-1.41%-1.19%-1.05%+33 bps
Return on Equity-13.56%-26.14%-15.95%-13.51%-11.83%+173 bps
Net Interest Margin3.48%3.39%3.59%3.63%3.74%+26 bps
Efficiency Ratio133.43%138.79%124.86%122.27%122.20%-1,123 bps
Non-Interest Burden4.74%4.89%4.59%4.56%4.70%-3 bps
Growth
Asset Growth (YoY)-6.39%-1.95%-2.39%-7.60%-8.87%-247 bps
Loan Growth (YoY)-10.45%-3.25%-6.07%-13.02%-9.86%+60 bps
Deposit Growth (YoY)-5.69%-4.71%-5.01%-10.66%-8.26%-257 bps
Asset Quality
Nonperforming Loans / Loans0.00%1.33%1.10%1.17%1.13%+113 bps
Net Charge-Offs / Loans0.34%0.75%0.39%0.35%0.28%-6 bps
Allowance / Loans2.21%2.25%2.34%2.49%2.37%+15 bps
Allowance Coverage of NPLsn/a1.7x2.1x2.1x2.1xn/a
Capital
Tier 1 Leverage Ratio9.00%8.69%8.60%8.55%8.77%-23 bps
Total Risk-Based Capital13.40%12.16%12.44%13.00%12.91%-49 bps
Equity / Assets9.26%8.66%8.62%8.78%8.92%-34 bps
Liquidity & Funding
Loans / Deposits74.16%80.20%77.26%73.93%72.87%-129 bps
Liquid Assets / Assets12.69%10.56%10.65%11.08%6.03%-666 bps
CRE / Total Capitaln/an/an/an/an/an/an/a