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Letter portraitLegal landscapeQuarterYTD

Citizens National Bank of Norwalk, The

Norwalk, OH · Cert 6664

FDIC

Q1 2002

$127.7MAssets
$99.0MLoans
$113.4MDeposits
$13.2MEquity
Loan mix
65%RE $36.7M33%C&I $18.4M2%Consumer $1.1MQ1 2001Q1 2002
Deposit mix
86%Interest-bearing $97.6M14%Noninterest $15.9MQ1 2001Q1 2002

NIM

7.57%Q1 ’016.75%Q1 ’02+6%

Non-interest income vs. expense

2.86%Q1 ’013.44%Q1 ’02+26%

Executive Summary

  • Earnings: ROA of 0.81%, down 15 bps year over year; NIM at 4.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.10%.
  • Funding: loans stand at 87.33% of deposits as of Q1 2002.

Financial Results

Return on Assets (YTD, annualized)

0.81%-15 bps YoY

Net Interest Margin (YTD, annualized)

4.13%+25 bps YoY

Efficiency Ratio (YTD, annualized)

66.88%+419 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets0.96%0.97%0.97%0.97%0.81%-15 bps
Return on Equityn/an/an/an/a7.86%n/an/a
Net Interest Margin3.88%3.72%3.73%3.70%4.13%+25 bps
Efficiency Ratio62.69%64.00%63.69%62.11%66.88%+419 bps
Non-Interest Burden2.18%2.13%2.12%2.01%2.76%+58 bps
Growth
Asset Growth (YoY)2.21%5.55%6.61%-0.74%-6.38%-858 bps
Loan Growth (YoY)9.87%4.35%6.08%-2.45%-7.68%-1,755 bps
Deposit Growth (YoY)3.03%13.65%10.03%3.80%-4.31%-734 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.25%0.31%0.28%0.28%0.10%-15 bps
Allowance / Loans1.18%1.20%1.18%1.37%1.44%+26 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 Capital11.86%11.90%11.91%12.11%10.88%-98 bps
Equity / Assets10.30%10.00%10.26%10.42%10.31%+1 bps
Liquidity & Funding
Loans / Deposits90.52%82.44%84.44%84.62%87.33%-319 bps
Liquid Assets / Assets0.01%0.01%0.71%0.74%0.09%+8 bps
CRE / Total Capitaln/an/an/an/an/an/an/a