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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

7.56%Q2 ’015.72%Q2 ’025.26%Q2 ’03-3%-1%

Non-interest income vs. expense

2.66%Q2 ’012.75%Q2 ’022.71%Q2 ’03+10%+0%

Executive Summary

  • Earnings: ROA of 1.49%, up 15 bps year over year; NIM at 4.15%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.31%.
  • Funding: loans stand at 68.00% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

1.49%+15 bps YoY

Net Interest Margin (quarter, annualized)

4.15%-6 bps YoY

Efficiency Ratio (quarter, annualized)

55.24%+31 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets1.34%1.37%0.93%1.55%1.49%+15 bps
Return on Equity18.85%18.39%12.34%20.79%19.84%+99 bps
Net Interest Margin4.21%4.18%4.35%4.04%4.15%-6 bps
Efficiency Ratio54.93%54.62%53.61%55.62%55.24%+31 bps
Non-Interest Burden1.95%1.96%1.92%1.90%1.95%0 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 / Loans-0.01%-0.08%0.10%0.08%2.31%+232 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