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Patriot State Bank

Fuquay Varina, NC · Cert 58248

FDIC

Q4 2012

$137.5MAssets
$114.9MLoans
$119.3MDeposits
$16.3MEquity
Loan mix
93%RE $83.8M6%C&I $5.1M1%Consumer $1.2MQ4 2011Q4 2012
Deposit mix
88%Interest-bearing $104.7M12%Noninterest $14.5MQ4 2011Q4 2012

NIM

4.34%Q4 ’104.38%Q4 ’114.38%Q4 ’12+8%+9%

Non-interest income vs. expense

2.90%Q4 ’102.97%Q4 ’113.08%Q4 ’12+0%+5%

Executive Summary

  • Earnings: ROA of 0.51%, up 14 bps year over year; NIM at 3.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.80%.
  • Funding: loans stand at 96.38% of deposits as of Q4 2012.

Financial Results

Return on Assets (quarter, annualized)

0.51%+14 bps YoY

Net Interest Margin (quarter, annualized)

3.39%+27 bps YoY

Efficiency Ratio (quarter, annualized)

83.94%-260 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2011Q1 2012Q2 2012Q3 2012Q4 2012YoY ΔTrend
Earnings
Return on Assets0.37%0.68%0.49%0.59%0.51%+14 bps
Return on Equity3.22%5.86%4.22%5.11%4.34%+113 bps
Net Interest Margin3.12%3.23%3.18%3.37%3.39%+27 bps
Efficiency Ratio86.55%78.99%81.11%85.74%83.94%-260 bps
Non-Interest Burden2.66%2.50%2.54%2.85%2.80%+14 bps
Growth
Asset Growth (YoY)-2.97%2.79%3.88%1.75%1.87%+484 bps
Loan Growth (YoY)-1.96%4.41%8.08%8.21%10.20%+1,216 bps
Deposit Growth (YoY)-2.97%3.57%4.44%1.41%0.16%+314 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%-0.03%0.13%0.01%0.80%+81 bps
Allowance / Loans1.92%1.89%1.93%1.90%1.70%-21 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 Capital15.71%15.46%15.39%15.38%15.46%-25 bps
Equity / Assets11.50%11.56%11.51%11.74%11.83%+33 bps
Liquidity & Funding
Loans / Deposits87.60%90.90%90.86%94.78%96.38%+878 bps
Liquid Assets / Assets3.96%2.63%4.54%1.91%1.72%-224 bps
CRE / Total Capitaln/an/an/an/an/an/an/a