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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

5.98%Q2 ’096.80%Q2 ’104.65%Q2 ’11+23%-35%

Non-interest income vs. expense

3.06%Q2 ’093.25%Q2 ’103.89%Q2 ’11-62%+252%

Executive Summary

  • Earnings: ROA of 0.06%, down 448 bps year over year; NIM at 3.53%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.23%.
  • Funding: loans stand at 62.33% of deposits as of Q2 2011.

Financial Results

Return on Assets (quarter, annualized)

0.06%-448 bps YoY

Net Interest Margin (quarter, annualized)

3.53%-188 bps YoY

Efficiency Ratio (quarter, annualized)

98.47%+5,613 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2010Q3 2010Q4 2010Q1 2011Q2 2011YoY ΔTrend
Earnings
Return on Assets4.54%0.67%-3.23%0.33%0.06%-448 bps
Return on Equity107.85%13.12%-71.99%8.75%1.53%-10,632 bps
Net Interest Margin5.41%3.89%3.16%3.38%3.53%-188 bps
Efficiency Ratio42.33%86.23%91.54%91.53%98.47%+5,613 bps
Non-Interest Burden0.99%3.30%2.79%3.07%3.47%+248 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 / Loans0.82%-0.40%1.64%-0.03%0.23%-59 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