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Southtrust Bank

Birmingham, AL · Cert 849

FDIC

Q4 2004

$59.7BAssets
$36.9BLoans
$31.6BDeposits
$13.9BEquity
Loan mix
63%RE $21.0B37%C&I $12.5B0%Consumer $0.0BQ4 2003Q4 2004
Deposit mix
88%Interest-bearing $27.6B12%Noninterest $3.9BQ4 2003Q4 2004

NIM

5.23%Q4 ’024.49%Q4 ’033.99%Q4 ’04-6%-15%

Non-interest income vs. expense

2.51%Q4 ’022.21%Q4 ’032.28%Q4 ’04-21%+51%

Executive Summary

  • Earnings: ROA of 0.66%, down 59 bps year over year; NIM at 2.75%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.49%.
  • Funding: loans stand at 116.98% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

0.66%-59 bps YoY

Net Interest Margin (quarter, annualized)

2.75%-50 bps YoY

Efficiency Ratio (quarter, annualized)

59.06%+1,068 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.24%1.36%1.50%1.40%0.66%-59 bps
Return on Equity14.70%16.22%17.99%16.57%4.01%-1,069 bps
Net Interest Margin3.25%3.20%3.22%3.20%2.75%-50 bps
Efficiency Ratio48.38%48.47%49.34%46.24%59.06%+1,068 bps
Non-Interest Burden0.97%1.00%0.76%0.94%1.46%+49 bps
Growth
Asset Growth (YoY)2.60%2.61%2.34%4.23%15.10%+1,250 bps
Loan Growth (YoY)1.15%3.41%4.45%5.84%3.02%+187 bps
Deposit Growth (YoY)8.54%8.86%7.41%6.35%-3.14%-1,169 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.39%0.30%0.31%0.24%0.49%+10 bps
Allowance / Loansn/an/an/an/an/an/an/a
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 Capital10.67%10.60%10.89%10.48%11.06%+39 bps
Equity / Assetsn/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits109.98%109.92%111.62%113.12%116.98%+700 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a