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First South

Bartlett, TN · Charter 68084

NCUA · 16 branches

Q2 2024

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, credit unions under $1B in assets3

Basis

Quarter: Q2 2024, the quarter ended June 30, 2024, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Credit unions under $1B in assets (n=1,748 to 1,753). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

97

Q2 2024Q2 2024peer median (50)

Asset Quality

64

Q2 2024Q2 2024peer median (50)

Profitability

82

Q2 2024Q2 2024peer median (50)

Liquidity

0

Q2 2024Q2 2024peer median

Efficiency

97

Q2 2024Q2 2024peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: NCUA 5300 Call Report, as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

First South

Bartlett, TN · Charter 68084

NCUA · 16 branches

Q2 2024

$766.0MAssets
$524.2MLoans
$532.6MShares
$232.3MNet Worth

Executive Summary

  • Earnings: ROA of 2.65%, up 94 bps year over year; NIM at 4.22%.
  • Asset quality: problem loans at 0.37% of loans (+19 bps YoY).
  • Capital: net worth / assets of 30.33%, up 152 bps from a year ago.
  • Funding: loans stand at 98.43% of shares as of Q2 2024.

Return on Assets (YTD, annualized)

2.65%+94 bps YoY

Net Interest Margin (YTD, annualized)

4.22%+68 bps YoY

Efficiency Ratio (YTD, annualized)

47.98%-2,469 bps YoY

Net Worth / Assets

30.33%+152 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024YoY ΔTrend
Earnings
Return on Assets1.31%1.38%1.56%1.72%1.81%1.85%2.49%2.65%+94 bps
Return on Equity4.96%5.13%5.68%5.95%6.13%6.12%8.47%8.74%+279 bps
Net Interest Margin1.82%2.07%3.30%3.54%3.38%3.46%4.18%4.22%+68 bps
Efficiency Ratio71.74%77.45%94.15%72.67%65.57%60.55%48.09%47.98%-2,469 bps
Growth
Asset Growth (YoY)5.74%2.65%0.53%-4.09%-4.74%-5.09%-2.80%-0.29%+380 bps
Loan Growth (YoY)0.98%13.09%16.97%17.96%16.96%9.90%6.21%7.40%-1,056 bps
Share Growth (YoY)5.15%0.85%-1.66%-5.06%-5.78%-5.19%-3.75%-3.24%+182 bps
Asset Quality
Delinquent Loans / Loans0.19%0.14%0.11%0.19%0.16%0.38%0.32%0.37%+19 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/an/an/an/a
Allowance / Loans3.67%2.80%2.03%0.00%0.00%0.00%0.00%0.00%0 bps
Capital
Risk-Based Capital26.42%26.96%27.40%28.81%29.50%30.26%29.37%30.33%+152 bps
Net Worth / Assets26.42%26.96%27.40%28.81%29.50%30.26%29.37%30.33%+152 bps
Liquidity & Funding
Loans / Shares75.15%81.66%84.95%88.68%93.29%94.65%93.75%98.43%+975 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps

Source: NCUA 5300 Call Report, as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

First South

Bartlett, TN · Charter 68084 · Peer group: credit unions under $1B in assets (n=1,748-1,753)

NCUA · 16 branches

Q2 2024

$766.0MAssets
$524.2MLoans
$532.6MShares
$232.3MNet Worth

Executive Summary

  • Strongest standing: return on assets outperforms 98% of credit unions under $1B in assets (rank 43 of 1753).
  • Widest gap: nonperforming loans / loans trails 36% of credit unions under $1B in assets (rank 630 of 1748).
  • Overall: at or above the peer median on 7 of 7 directional measures.

Return on Assets

2.65%

Rank 43 of 1,753

Net Interest Margin

4.22%

Rank 421 of 1,752

Efficiency Ratio

47.98%

Rank 60 of 1,748

Equity / Assets

30.33%

Rank 48 of 1,752

MetricYour Credit UnionPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets2.65%0.23%0.68%1.19%Beats 98%43 / 1,753n/a
Return on Equity8.74%1.80%5.29%9.05%Beats 73%465 / 1,750n/a
Net Interest Margin4.22%2.98%3.54%4.20%Beats 76%421 / 1,752n/a
Efficiency Ratio47.98%69.58%78.86%88.33%Beats 97%60 / 1,748n/a
Asset Quality
Nonperforming Loans / Loans0.37%0.22%0.59%1.20%Beats 64%630 / 1,748n/a
Net Charge-Offs / Loansn/aNot reported for this institution
Capital
Tier 1 Capital Ratio30.33%9.91%12.21%15.57%Beats 97%49 / 1,753n/a
Total Risk-Based Capital Ration/aNot reported for this institution
Equity / Assets30.33%9.91%12.21%15.57%Beats 97%48 / 1,752n/a
Liquidity & Funding
Loans / Deposits98.43%55.88%73.01%86.61%93rd pctl124 / 1,750n/a
Loans / Assets68.44%48.21%62.51%73.23%63rd pctl642 / 1,752n/a
Brokered Deposits / Depositsn/aNot reported for this institution