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Letter portraitLegal landscapeQuarterYTD

Citizens Bank of Spencer

Spencer, TN · Cert 6092

FDIC

Q2 2011

$44.3MAssets
$26.2MLoans
$42.1MDeposits
$1.9MEquity
Loan mix
73%RE $18.3M11%C&I $2.8M16%Consumer $4.0MQ2 2010Q2 2011
Deposit mix
91%Interest-bearing $38.5M9%Noninterest $3.6MQ2 2010Q2 2011

NIM

5.90%Q2 ’096.19%Q2 ’104.66%Q2 ’11+11%-28%

Non-interest income vs. expense

3.07%Q2 ’093.23%Q2 ’103.67%Q2 ’11-21%+81%

Executive Summary

  • Earnings: ROA of 0.20%, up 452 bps year over year; NIM at 3.46%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.10%.
  • Funding: loans stand at 62.33% of deposits as of Q2 2011.

Financial Results

Return on Assets (YTD, annualized)

0.20%+452 bps YoY

Net Interest Margin (YTD, annualized)

3.46%-136 bps YoY

Efficiency Ratio (YTD, annualized)

95.08%+4,330 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2010Q3 2010Q4 2010Q1 2011Q2 2011YoY ΔTrend
Earnings
Return on Assets-4.33%-2.65%-2.80%0.33%0.20%+452 bps
Return on Equity-83.75%-51.16%-57.21%8.75%4.96%+8,870 bps
Net Interest Margin4.82%4.40%4.06%3.38%3.46%-136 bps
Efficiency Ratio51.78%60.86%67.41%91.53%95.08%+4,330 bps
Non-Interest Burden1.81%2.27%2.38%3.07%3.27%+146 bps
Growth
Asset Growth (YoY)-3.13%-1.52%3.23%3.18%2.29%+542 bps
Loan Growth (YoY)-6.45%-8.72%-2.80%-4.55%-6.86%-41 bps
Deposit Growth (YoY)6.11%8.22%7.30%3.09%2.94%-317 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans11.72%7.75%6.35%-0.03%0.10%-1,162 bps
Allowance / Loans3.28%3.41%4.29%4.38%4.42%+114 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 Capital9.02%9.34%8.27%8.40%8.63%-38 bps
Equity / Assets4.93%5.21%3.75%3.75%4.39%-54 bps
Liquidity & Funding
Loans / Deposits68.88%66.75%64.71%60.75%62.33%-656 bps
Liquid Assets / Assets1.11%0.56%3.06%0.00%3.18%+208 bps
CRE / Total Capitaln/an/an/an/an/an/an/a