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Somerville Bank & Trust Company, The

Somerville, TN · Cert 9174

FDIC

Q4 2013

$219.8MAssets
$89.5MLoans
$196.6MDeposits
$22.7MEquity
Loan mix
90%RE $77.3M4%C&I $3.1M6%Consumer $5.2MQ4 2012Q4 2013
Deposit mix
87%Interest-bearing $170.7M13%Noninterest $25.9MQ4 2012Q4 2013

NIM

3.34%Q4 ’113.03%Q4 ’122.66%Q4 ’13-6%-6%

Non-interest income vs. expense

1.77%Q4 ’111.90%Q4 ’121.71%Q4 ’13+17%-16%

Executive Summary

  • Earnings: ROA of 0.52%, down 3 bps year over year; NIM at 2.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.07%.
  • Funding: loans stand at 45.54% of deposits as of Q4 2013.

Financial Results

Return on Assets (quarter, annualized)

0.52%-3 bps YoY

Net Interest Margin (quarter, annualized)

2.35%-16 bps YoY

Efficiency Ratio (quarter, annualized)

67.50%-573 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2012Q1 2013Q2 2013Q3 2013Q4 2013YoY ΔTrend
Earnings
Return on Assets0.55%0.59%0.62%0.59%0.52%-3 bps
Return on Equity4.98%5.40%5.59%5.40%4.85%-12 bps
Net Interest Margin2.52%2.32%2.43%2.40%2.35%-16 bps
Efficiency Ratio73.23%69.24%66.41%67.10%67.50%-573 bps
Non-Interest Burden1.82%1.53%1.55%1.54%1.53%-29 bps
Growth
Asset Growth (YoY)2.56%0.74%2.70%5.17%8.28%+572 bps
Loan Growth (YoY)-1.27%0.19%0.05%-2.27%-3.94%-267 bps
Deposit Growth (YoY)2.10%1.43%2.90%5.57%10.08%+799 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.05%0.16%-0.02%0.18%0.07%+11 bps
Allowance / Loans1.31%1.21%1.21%1.13%1.14%-18 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 Capital22.67%22.76%22.76%22.87%22.49%-17 bps
Equity / Assets10.86%11.01%11.04%10.97%10.34%-52 bps
Liquidity & Funding
Loans / Deposits52.18%51.71%50.63%49.81%45.54%-665 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