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Letter portraitLegal landscapeQuarterYTD

Citizens National Bank

Lansford, PA · Cert 7558

FDIC

Q4 2003

$465.9MAssets
$241.3MLoans
$375.7MDeposits
$37.3MEquity
Loan mix
87%RE $144.0M12%C&I $19.4M2%Consumer $2.8MQ4 2002Q4 2003
Deposit mix
87%Interest-bearing $327.0M13%Noninterest $48.8MQ4 2002Q4 2003

NIM

6.52%Q4 ’015.58%Q4 ’024.96%Q4 ’03+0%-1%

Non-interest income vs. expense

2.10%Q4 ’012.30%Q4 ’022.31%Q4 ’03+8%-4%

Executive Summary

  • Earnings: ROA of 1.65%, up 20 bps year over year; NIM at 3.26%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.23%.
  • Funding: loans stand at 64.22% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

1.65%+20 bps YoY

Net Interest Margin (YTD, annualized)

3.26%-4 bps YoY

Efficiency Ratio (YTD, annualized)

58.84%-27 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets1.45%1.60%1.88%1.79%1.65%+20 bps
Return on Equity18.81%21.19%24.34%23.18%21.21%+241 bps
Net Interest Margin3.30%3.33%3.35%3.27%3.26%-4 bps
Efficiency Ratio59.12%57.00%57.53%57.30%58.84%-27 bps
Non-Interest Burden1.71%1.60%1.64%1.58%1.64%-7 bps
Growth
Asset Growth (YoY)10.30%6.02%1.27%1.27%-3.90%-1,420 bps
Loan Growth (YoY)5.48%5.81%-1.04%-3.96%-4.19%-967 bps
Deposit Growth (YoY)9.40%7.78%-2.59%-4.13%-6.03%-1,543 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.09%0.34%0.30%0.24%0.23%+14 bps
Allowance / Loans1.68%1.59%1.60%1.61%1.56%-11 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 Capital12.01%12.29%12.69%12.85%13.07%+106 bps
Equity / Assets7.22%7.85%8.11%7.65%8.00%+78 bps
Liquidity & Funding
Loans / Deposits62.99%64.62%64.51%63.20%64.22%+123 bps
Liquid Assets / Assets0.99%1.02%1.01%0.93%0.96%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a