PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Palmetto Bank, The

Laurens, SC · Cert 8997

FDIC · 32 branches

Q2 2015

$1.2BAssets
$827.2MLoans
$978.0MDeposits
$136.5MEquity
Loan mix
73%RE $442.4M15%C&I $88.5M13%Consumer $76.4MQ3 2013Q2 2015
Deposit mix
78%Interest-bearing $764.2M22%Noninterest $213.9MQ3 2013Q2 2015

Market Position · Greenville-Anderson-Mauldin, SC · 2015 SOD (annual) · 4.4% share · #8 of 36 inst. · $0.7B of $14.8B

3.5% Greenville
34.5% Laurens
3.1% Spartanburg
4.4% Anderson

Executive Summary

  • Earnings: ROA of 1.20%, up 44 bps year over year; NIM at 3.48%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.40%.
  • Capital: tier 1 leverage ratio of 11.72%.
  • Funding: loans stand at 84.58% of deposits as of Q2 2015.

Return on Assets (quarter, annualized)

1.20%+44 bps YoY

Net Interest Margin (quarter, annualized)

3.48%-8 bps YoY

Efficiency Ratio (quarter, annualized)

69.50%-569 bps YoY

Tier 1 Leverage Ratio

11.72%

NIM

3.95%Q2 ’133.61%Q2 ’143.50%Q2 ’15-5%-2%

Non-interest income vs. expense

3.77%Q2 ’133.57%Q2 ’143.22%Q2 ’15-18%-15%

Discrete quarter, annualized.

MetricQ3 2013Q4 2013Q1 2014Q2 2014Q3 2014Q4 2014Q1 2015Q2 2015YoY ΔTrend
Earnings
Return on Assets8.03%0.65%0.75%0.75%0.86%1.22%0.94%1.20%+44 bps
Return on Equity79.91%5.85%6.55%6.45%7.19%10.28%8.04%10.31%+386 bps
Net Interest Margin3.72%3.66%3.63%3.56%3.57%3.51%3.48%3.48%-8 bps
Efficiency Ratio73.82%75.08%76.42%75.19%77.72%73.91%66.44%69.50%-569 bps
Non-Interest Burden2.40%2.42%2.48%2.38%2.54%2.24%1.82%2.03%-35 bps
Growth
Asset Growth (YoY)-3.51%-4.84%-0.01%0.57%-0.22%2.62%6.75%6.71%+615 bps
Loan Growth (YoY)1.86%3.23%2.67%1.83%2.44%4.80%10.19%9.14%+731 bps
Deposit Growth (YoY)-7.02%-11.33%-4.54%-3.19%-0.85%2.31%4.29%5.25%+844 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.61%1.05%0.13%0.34%-0.14%0.32%0.19%-0.40%-74 bps
Allowance / Loans2.20%2.14%2.14%2.06%1.98%1.60%1.55%1.55%-51 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/a11.84%11.72%n/a
Total Risk-Based Capital15.50%15.48%16.07%16.54%16.64%16.24%15.62%15.77%-77 bps
Equity / Assets10.96%11.31%11.51%11.90%11.93%11.86%11.55%11.71%-18 bps
Liquidity & Funding
Loans / Deposits80.21%84.73%81.62%81.56%82.87%86.80%86.24%84.58%+301 bps
Liquid Assets / Assets3.11%1.27%3.99%3.28%2.25%1.24%3.18%3.94%+66 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a