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First State Bank

Kenton, TN · Cert 6105

FDIC

Q4 2002

$284.3MAssets
$189.0MLoans
$239.3MDeposits
$24.2MEquity
Loan mix
72%RE $67.3M28%C&I $25.9M1%Consumer $0.7MQ4 2001Q4 2002
Deposit mix
91%Interest-bearing $218.7M9%Noninterest $20.6MQ4 2001Q4 2002

NIM

7.57%Q1 ’016.26%Q4 ’015.47%Q4 ’02-11%+35%

Non-interest income vs. expense

2.64%Q1 ’013.22%Q4 ’013.45%Q4 ’02+33%-4%

Executive Summary

  • Earnings: ROA of 0.28%, up 122 bps year over year; NIM at 3.16%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.80%.
  • Funding: loans stand at 78.99% of deposits as of Q4 2002.

Financial Results

Return on Assets (quarter, annualized)

0.28%+122 bps YoY

Net Interest Margin (quarter, annualized)

3.16%+81 bps YoY

Efficiency Ratio (quarter, annualized)

86.89%-2,694 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets-0.94%-0.31%0.16%0.46%0.28%+122 bps
Return on Equity-11.68%-3.88%1.96%5.38%3.28%+1,495 bps
Net Interest Margin2.35%2.48%3.11%3.45%3.16%+81 bps
Efficiency Ratio113.83%94.14%80.87%77.41%86.89%-2,694 bps
Non-Interest Burden2.74%2.30%2.35%2.49%2.64%-10 bps
Growth
Asset Growth (YoY)-1.10%1.17%3.26%2.49%-0.40%+70 bps
Loan Growth (YoY)7.53%-0.27%-1.12%-3.27%4.60%-292 bps
Deposit Growth (YoY)-0.22%2.59%5.11%4.11%-2.72%-251 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.91%-0.16%0.74%0.73%0.80%-11 bps
Allowance / Loans2.26%2.67%2.67%2.55%2.29%+3 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 Capital12.35%13.08%13.12%12.97%12.45%+10 bps
Equity / Assets7.72%8.19%8.57%8.65%8.51%+78 bps
Liquidity & Funding
Loans / Deposits73.46%70.93%73.05%74.55%78.99%+553 bps
Liquid Assets / Assets0.01%0.75%0.76%0.04%1.45%+144 bps
CRE / Total Capitaln/an/an/an/an/an/an/a