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Morris Plan Savings Bank, SSB, The

Burlington, NC · Cert 9837

FDIC

Q1 2002

$43.7MAssets
$33.6MLoans
$33.5MDeposits
$2.8MEquity
Loan mix
81%RE $20.8M18%C&I $4.7M0%Consumer $0.0MQ1 2001Q1 2002
Deposit mix
99%Interest-bearing $33.2M1%Noninterest $0.3MQ1 2001Q1 2002

NIM

7.94%Q1 ’017.12%Q1 ’02+37%

Non-interest income vs. expense

2.44%Q1 ’012.72%Q1 ’02+11%

Executive Summary

  • Earnings: ROA of 0.79%, up 18 bps year over year; NIM at 3.59%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Funding: loans stand at 100.53% of deposits as of Q1 2002.

Financial Results

Return on Assets (quarter, annualized)

0.79%+18 bps YoY

Net Interest Margin (quarter, annualized)

3.59%+96 bps YoY

Efficiency Ratio (quarter, annualized)

65.18%-1,260 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets0.62%0.57%0.52%0.41%0.79%+18 bps
Return on Equityn/a7.94%7.45%6.02%12.12%n/a
Net Interest Margin2.62%2.61%3.72%2.48%3.59%+96 bps
Efficiency Ratio77.78%74.92%82.72%90.26%65.18%-1,260 bps
Non-Interest Burden1.93%1.82%3.21%2.07%2.13%+21 bps
Growth
Asset Growth (YoY)13.17%10.07%15.59%16.44%17.19%+402 bps
Loan Growth (YoY)6.96%6.49%9.57%10.43%18.19%+1,122 bps
Deposit Growth (YoY)8.78%5.30%11.26%25.71%25.99%+1,721 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.04%0.12%0.05%0.06%+6 bps
Allowance / Loans1.03%1.04%0.98%0.97%1.09%+6 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 Capital13.47%12.23%12.07%11.90%11.51%-195 bps
Equity / Assets7.28%7.06%7.04%6.58%6.47%-81 bps
Liquidity & Funding
Loans / Deposits107.17%106.81%103.75%99.33%100.53%-664 bps
Liquid Assets / Assets4.25%1.43%0.68%4.11%3.88%-37 bps
CRE / Total Capitaln/an/an/an/an/an/an/a