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Bullitt County Bank

Shepherdsville, KY · Cert 9674

FDIC

Q4 2005

$170.5MAssets
$154.6MLoans
$135.5MDeposits
$15.7MEquity
Loan mix
88%RE $44.0M12%C&I $5.8M0%Consumer $0.1MQ4 2004Q4 2005
Deposit mix
86%Interest-bearing $116.8M14%Noninterest $18.7MQ4 2004Q4 2005

NIM

6.99%Q4 ’036.51%Q4 ’047.81%Q4 ’05+0%+18%

Non-interest income vs. expense

2.40%Q4 ’032.27%Q4 ’041.95%Q4 ’05-9%-15%

Executive Summary

  • Earnings: ROA of 1.61%, up 12 bps year over year; NIM at 5.30%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.61%.
  • Funding: loans stand at 114.12% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

1.61%+12 bps YoY

Net Interest Margin (quarter, annualized)

5.30%+79 bps YoY

Efficiency Ratio (quarter, annualized)

33.45%-1,087 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.48%1.57%1.90%1.92%1.61%+12 bps
Return on Equity15.91%17.10%21.16%21.33%17.72%+181 bps
Net Interest Margin4.51%4.59%4.58%4.73%5.30%+79 bps
Efficiency Ratio44.32%41.11%39.38%36.73%33.45%-1,087 bps
Non-Interest Burden1.66%1.56%1.43%1.36%1.42%-24 bps
Growth
Asset Growth (YoY)1.19%2.71%7.79%10.13%10.68%+950 bps
Loan Growth (YoY)0.12%6.12%9.29%18.04%13.45%+1,333 bps
Deposit Growth (YoY)-2.91%2.90%8.90%7.26%7.66%+1,058 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.36%0.13%0.20%0.50%1.61%+125 bps
Allowance / Loans1.25%1.33%1.34%1.24%1.27%+2 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 Capital12.04%11.63%11.79%11.21%11.98%-6 bps
Equity / Assets9.50%8.91%9.04%8.95%9.22%-28 bps
Liquidity & Funding
Loans / Deposits108.29%104.07%104.17%112.23%114.12%+582 bps
Liquid Assets / Assets0.24%0.57%0.39%0.80%0.89%+64 bps
CRE / Total Capitaln/an/an/an/an/an/an/a