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Forest Commercial Bank

Asheville, NC · Cert 58693

FDIC

Q1 2014

$157.1MAssets
$124.1MLoans
$129.6MDeposits
$19.2MEquity
Loan mix
88%RE $64.3M12%C&I $8.8M0%Consumer $0.3MQ1 2013Q1 2014
Deposit mix
87%Interest-bearing $112.4M13%Noninterest $17.1MQ1 2013Q1 2014

NIM

4.70%Q1 ’124.26%Q1 ’133.73%Q1 ’14-4%-10%

Non-interest income vs. expense

4.31%Q1 ’124.48%Q1 ’134.51%Q1 ’14-12%+18%

Executive Summary

  • Earnings: ROA of -0.42%, down 76 bps year over year; NIM at 3.27%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 95.79% of deposits as of Q1 2014.

Financial Results

Return on Assets (YTD, annualized)

-0.42%-76 bps YoY

Net Interest Margin (YTD, annualized)

3.27%-37 bps YoY

Efficiency Ratio (YTD, annualized)

110.14%+2,030 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2013Q2 2013Q3 2013Q4 2013Q1 2014YoY ΔTrend
Earnings
Return on Assets0.34%0.32%0.21%0.12%-0.42%-76 bps
Return on Equity2.46%2.31%1.64%0.93%-3.65%-611 bps
Net Interest Margin3.64%3.55%3.18%2.82%3.27%-37 bps
Efficiency Ratio89.84%88.54%89.97%92.57%110.14%+2,030 bps
Non-Interest Burden3.13%3.01%2.77%2.55%3.68%+55 bps
Growth
Asset Growth (YoY)11.48%8.89%33.47%27.08%13.48%+200 bps
Loan Growth (YoY)11.94%7.79%15.07%12.21%13.94%+200 bps
Deposit Growth (YoY)8.14%9.39%38.01%27.94%15.66%+752 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%0.00%0 bps
Allowance / Loans1.39%1.38%1.38%1.37%1.37%-2 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 Capital17.36%16.81%15.92%15.51%14.66%-270 bps
Equity / Assets14.02%13.48%10.66%10.81%12.19%-183 bps
Liquidity & Funding
Loans / Deposits97.24%98.36%78.91%82.41%95.79%-144 bps
Liquid Assets / Assets6.87%6.47%21.10%13.86%0.89%-598 bps
CRE / Total Capitaln/an/an/an/an/an/an/a