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Citizens State Bank

New Baltimore, MI · Cert 1006

FDIC

Q3 2009

$168.6MAssets
$131.8MLoans
$157.1MDeposits
$1.9MEquity
Loan mix
91%RE $98.0M9%C&I $9.6M0%Consumer $0.0MQ3 2008Q3 2009
Deposit mix
83%Interest-bearing $130.9M17%Noninterest $26.2MQ3 2008Q3 2009

NIM

6.47%Q3 ’075.08%Q3 ’084.43%Q3 ’09-13%-9%

Non-interest income vs. expense

3.66%Q3 ’073.81%Q3 ’084.64%Q3 ’09+6%+78%

Executive Summary

  • Earnings: ROA of -5.00%, down 21 bps year over year; NIM at 2.87%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.14%.
  • Funding: loans stand at 83.87% of deposits as of Q3 2009.

Financial Results

Return on Assets (quarter, annualized)

-5.00%-21 bps YoY

Net Interest Margin (quarter, annualized)

2.87%-28 bps YoY

Efficiency Ratio (quarter, annualized)

250%+14,972 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2008Q4 2008Q1 2009Q2 2009Q3 2009YoY ΔTrend
Earnings
Return on Assets-4.79%-6.76%-1.12%-17.47%-5.00%-21 bps
Return on Equity-52.99%-89.99%-17.18%-400%-293%-23,987 bps
Net Interest Margin3.15%2.97%2.49%2.62%2.87%-28 bps
Efficiency Ratio100.52%370%120.41%291%250%+14,972 bps
Non-Interest Burden3.17%6.05%3.14%7.25%5.65%+248 bps
Growth
Asset Growth (YoY)1.65%3.26%0.62%-4.21%-14.83%-1,648 bps
Loan Growth (YoY)-1.56%-2.19%-4.90%-10.69%-13.90%-1,234 bps
Deposit Growth (YoY)4.36%4.23%2.45%1.56%-10.57%-1,493 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.38%9.17%0.83%16.36%0.14%-24 bps
Allowance / Loans2.84%2.47%2.49%3.08%3.89%+105 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 Capital10.97%9.11%8.78%4.01%2.75%-823 bps
Equity / Assets8.37%6.65%6.39%2.22%1.15%-722 bps
Liquidity & Funding
Loans / Deposits87.11%86.05%83.07%78.92%83.87%-324 bps
Liquid Assets / Assets0.00%0.03%0.03%0.03%0.03%+3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a