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Crookston National Bank

Crookston, MN · Cert 10196

FDIC · 1 branch

Q4 2020

$90.6MAssets
$44.2MLoans
$77.3MDeposits
$12.8MEquity
Loan mix
79%RE $26.5M15%C&I $5.1M6%Consumer $1.9MQ4 2019Q4 2020
Deposit mix
80%Interest-bearing $61.8M20%Noninterest $15.5MQ4 2019Q4 2020

NIM

3.26%Q4 ’182.28%Q4 ’193.48%Q4 ’20-30%+50%

Non-interest income vs. expense

1.98%Q4 ’180.88%Q4 ’191.56%Q4 ’20-56%+72%

Market Position · Grand Forks, ND-MN · 2020 SOD (annual) · 2.0% share · #11 of 20 inst. · $0.1B of $3.4B

Executive Summary

  • Earnings: ROA of 1.61%, up 78 bps year over year; NIM at 3.16%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.08%, down 11 bps from a year ago.
  • Funding: loans stand at 57.18% of deposits as of Q4 2020.

Financial Results

Return on Assets (YTD, annualized)

1.61%+78 bps YoY

Net Interest Margin (YTD, annualized)

3.16%+106 bps YoY

Efficiency Ratio (YTD, annualized)

47.77%+595 bps YoY

Tier 1 Leverage Ratio

10.08%-11 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2019Q1 2020Q2 2020Q3 2020Q4 2020YoY ΔTrend
Earnings
Return on Assets0.83%1.51%1.65%1.71%1.61%+78 bps
Return on Equity6.72%10.05%11.08%11.38%10.84%+412 bps
Net Interest Margin2.10%3.73%3.50%3.43%3.16%+106 bps
Efficiency Ratio41.82%42.99%44.60%45.05%47.77%+595 bps
Non-Interest Burden0.76%1.38%1.32%1.32%1.30%+55 bps
Growth
Asset Growth (YoY)11.13%3.70%4.36%6.85%10.61%-52 bps
Loan Growth (YoY)6.14%11.90%17.45%4.06%0.38%-576 bps
Deposit Growth (YoY)3.82%-4.50%1.66%7.68%10.76%+695 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.72%0.94%0.94%0.97%1.05%+34 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio10.19%10.41%9.76%10.31%10.08%-11 bps
Total Risk-Based Capital18.33%17.52%17.28%18.42%20.10%+178 bps
Equity / Assets14.61%15.45%14.74%15.20%14.18%-44 bps
Liquidity & Funding
Loans / Deposits63.09%69.09%71.96%68.71%57.18%-591 bps
Liquid Assets / Assets18.69%4.93%11.26%10.10%23.56%+488 bps
CRE / Total Capitaln/an/an/an/an/an/an/a