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Letter portraitLegal landscapeQuarterYTD

Forest Hill State Bank, The

Bel Air, MD · Cert 809

FDIC

Q2 2004

$392.9MAssets
$304.5MLoans
$306.7MDeposits
$33.4MEquity
Loan mix
73%RE $92.1M27%C&I $34.5M0%Consumer $0.4MQ2 2003Q2 2004
Deposit mix
68%Interest-bearing $210.0M32%Noninterest $96.7MQ2 2003Q2 2004

NIM

6.51%Q2 ’025.88%Q2 ’035.30%Q2 ’04-2%-7%

Non-interest income vs. expense

2.26%Q2 ’022.26%Q2 ’032.08%Q2 ’04+3%-11%

Executive Summary

  • Earnings: ROA of 1.86%, down 3 bps year over year; NIM at 4.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Funding: loans stand at 99.29% of deposits as of Q2 2004.

Financial Results

Return on Assets (YTD, annualized)

1.86%-3 bps YoY

Net Interest Margin (YTD, annualized)

4.47%-33 bps YoY

Efficiency Ratio (YTD, annualized)

41.36%-93 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.89%1.94%1.92%1.84%1.86%-3 bps
Return on Equity18.10%19.30%19.59%20.64%21.27%+317 bps
Net Interest Margin4.80%4.61%4.52%4.54%4.47%-33 bps
Efficiency Ratio42.29%41.47%41.68%41.63%41.36%-93 bps
Non-Interest Burden1.72%1.61%1.59%1.58%1.52%-19 bps
Growth
Asset Growth (YoY)9.35%11.11%12.07%11.53%9.74%+40 bps
Loan Growth (YoY)11.17%14.96%13.41%10.25%8.12%-306 bps
Deposit Growth (YoY)8.71%8.08%7.16%10.00%8.52%-19 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.18%0.17%0.20%0.09%0.11%-7 bps
Allowance / Loans1.65%1.55%1.50%1.46%1.41%-24 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 Capital13.87%16.78%16.79%16.73%16.32%+245 bps
Equity / Assets10.21%8.94%8.88%8.90%8.49%-172 bps
Liquidity & Funding
Loans / Deposits99.66%103.17%101.13%99.30%99.29%-37 bps
Liquid Assets / Assets0.25%0.21%0.20%0.27%0.35%+11 bps
CRE / Total Capitaln/an/an/an/an/an/an/a