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Main Street Bank

Covington, GA · Cert 9243

FDIC

Q2 2006

$2.6BAssets
$1.7BLoans
$1.7BDeposits
$637.4MEquity
Loan mix
75%RE $237.0M25%C&I $78.6M0%Consumer $0.2MQ2 2005Q2 2006
Deposit mix
85%Interest-bearing $1.4B15%Noninterest $0.3BQ2 2005Q2 2006

NIM

5.61%Q2 ’046.02%Q2 ’05-3.95%Q2 ’06-2%-160%

Non-interest income vs. expense

2.66%Q2 ’042.37%Q2 ’05-1.43%Q2 ’06-22%-163%

Executive Summary

  • Earnings: ROA of -0.87%, down 205 bps year over year; NIM at -2.41%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.27%.
  • Funding: loans stand at 105.91% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

-0.87%-205 bps YoY

Net Interest Margin (quarter, annualized)

-2.41%-645 bps YoY

Efficiency Ratio (quarter, annualized)

52.44%+462 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets1.18%1.52%1.26%1.50%-0.87%-205 bps
Return on Equity8.75%11.43%9.34%10.68%-4.38%-1,313 bps
Net Interest Margin4.04%3.94%4.08%3.94%-2.41%-645 bps
Efficiency Ratio47.82%49.65%52.68%50.09%52.44%+462 bps
Non-Interest Burden1.47%1.55%1.80%1.60%-0.93%-240 bps
Growth
Asset Growth (YoY)10.38%9.65%1.12%0.22%9.03%-134 bps
Loan Growth (YoY)10.74%8.36%6.28%3.20%-1.31%-1,205 bps
Deposit Growth (YoY)7.23%8.71%1.51%-0.87%-1.87%-910 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.85%0.21%0.23%0.26%-0.27%-112 bps
Allowance / Loans1.42%1.40%1.39%1.40%1.32%-10 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 Capital13.09%12.92%13.25%13.50%11.69%-141 bps
Equity / Assets13.55%13.10%13.89%14.18%24.80%+1,125 bps
Liquidity & Funding
Loans / Deposits105.30%101.32%104.09%103.96%105.91%+61 bps
Liquid Assets / Assets0.65%0.72%0.45%0.45%0.09%-57 bps
CRE / Total Capitaln/an/an/an/an/an/an/a