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Jefferson State Bank

Cumming, GA · Cert 58151

FDIC

Q3 2008

$83.6MAssets
$68.5MLoans
$71.6MDeposits
$11.8MEquity
Deposit mix
93%Interest-bearing $67.0M7%Noninterest $4.7MQ3 2007Q3 2008

NIM

7.33%Q3 ’067.62%Q3 ’075.23%Q3 ’08-18%-37%

Non-interest income vs. expense

7.07%Q3 ’063.66%Q3 ’074.01%Q3 ’08-51%+13%

Executive Summary

  • Earnings: ROA of -4.21%, down 417 bps year over year; NIM at 2.25%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.97%.
  • Funding: loans stand at 95.61% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

-4.21%-417 bps YoY

Net Interest Margin (quarter, annualized)

2.25%-131 bps YoY

Efficiency Ratio (quarter, annualized)

161.68%+6,702 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets-0.04%-0.02%-1.03%-0.32%-4.21%-417 bps
Return on Equity-0.26%-0.16%-6.59%-2.02%-28.32%-2,806 bps
Net Interest Margin3.56%3.12%2.81%3.13%2.25%-131 bps
Efficiency Ratio94.66%95.53%124.09%107.15%161.68%+6,702 bps
Non-Interest Burden3.35%2.96%3.54%3.40%3.78%+43 bps
Growth
Asset Growth (YoY)93.38%95.39%41.63%26.77%0.56%-9,283 bps
Loan Growth (YoY)109.41%92.44%59.25%29.93%19.61%-8,980 bps
Deposit Growth (YoY)128.61%132.69%52.44%32.34%1.33%-12,728 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%1.97%+197 bps
Allowance / Loans1.00%1.00%1.02%1.00%1.31%+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 Capital19.29%18.72%18.49%17.84%16.95%-235 bps
Equity / Assets14.79%15.27%16.06%15.62%14.15%-64 bps
Liquidity & Funding
Loans / Deposits80.99%88.34%100.85%101.16%95.61%+1,462 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a