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Carolina State Bank

Chesnee, SC · Cert 9920

FDIC

Q2 2003

$81.5MAssets
$51.0MLoans
$75.0MDeposits
$6.3MEquity
Loan mix
39%RE $16.1M60%C&I $24.7M1%Consumer $0.6MQ2 2002Q2 2003
Deposit mix
85%Interest-bearing $64.0M15%Noninterest $11.1MQ2 2002Q2 2003

NIM

7.43%Q2 ’015.77%Q2 ’025.24%Q2 ’03+1%-2%

Non-interest income vs. expense

2.62%Q2 ’012.69%Q2 ’022.70%Q2 ’03+3%+1%

Executive Summary

  • Earnings: ROA of 1.53%, up 14 bps year over year; NIM at 4.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.20%.
  • Funding: loans stand at 68.00% of deposits as of Q2 2003.

Financial Results

Return on Assets (YTD, annualized)

1.53%+14 bps YoY

Net Interest Margin (YTD, annualized)

4.09%-8 bps YoY

Efficiency Ratio (YTD, annualized)

55.43%+113 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets1.39%1.38%1.27%1.55%1.53%+14 bps
Return on Equity19.66%19.22%17.49%20.79%20.31%+65 bps
Net Interest Margin4.17%4.18%4.21%4.04%4.09%-8 bps
Efficiency Ratio54.30%54.41%54.20%55.62%55.43%+113 bps
Non-Interest Burden1.91%1.93%1.92%1.90%1.92%+1 bps
Growth
Asset Growth (YoY)5.61%1.74%1.39%4.43%6.53%+92 bps
Loan Growth (YoY)-1.51%4.75%4.84%7.72%0.70%+221 bps
Deposit Growth (YoY)5.58%1.55%0.87%4.03%6.23%+66 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.05%0.06%0.08%1.20%+109 bps
Allowance / Loans1.19%1.26%1.43%1.43%1.02%-17 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 Capital11.68%11.98%11.62%11.76%11.98%+30 bps
Equity / Assets7.34%7.60%7.53%7.35%7.69%+35 bps
Liquidity & Funding
Loans / Deposits71.74%74.20%75.85%71.81%68.00%-374 bps
Liquid Assets / Assets0.04%0.06%0.07%0.06%0.01%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a