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Security State Bank of Howard Lake

Howard Lake, MN · Cert 10206

FDIC

Q3 2011

$79.4MAssets
$48.5MLoans
$65.2MDeposits
$8.1MEquity
Loan mix
75%RE $29.2M22%C&I $8.6M2%Consumer $0.9MQ3 2010Q3 2011
Deposit mix
76%Interest-bearing $49.6M24%Noninterest $15.7MQ3 2010Q3 2011

NIM

4.69%Q3 ’094.48%Q3 ’104.60%Q3 ’11+10%+13%

Non-interest income vs. expense

2.25%Q3 ’092.32%Q3 ’102.15%Q3 ’11+18%+5%

Executive Summary

  • Earnings: ROA of 1.83%, up 81 bps year over year; NIM at 3.63%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.55%.
  • Funding: loans stand at 74.36% of deposits as of Q3 2011.

Financial Results

Return on Assets (quarter, annualized)

1.83%+81 bps YoY

Net Interest Margin (quarter, annualized)

3.63%+42 bps YoY

Efficiency Ratio (quarter, annualized)

56.86%-710 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets1.02%-3.18%0.31%1.57%1.83%+81 bps
Return on Equity9.92%-32.66%3.22%16.05%18.21%+829 bps
Net Interest Margin3.21%3.28%3.40%3.49%3.63%+42 bps
Efficiency Ratio63.96%80.49%58.44%61.24%56.86%-710 bps
Non-Interest Burden1.90%2.54%1.72%1.91%1.99%+9 bps
Growth
Asset Growth (YoY)-0.93%-4.04%-3.29%3.25%-1.81%-88 bps
Loan Growth (YoY)-11.88%-12.61%-4.21%-4.01%-3.09%+878 bps
Deposit Growth (YoY)0.54%-3.30%1.54%6.07%-0.83%-136 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.45%4.90%0.30%-0.06%0.55%+10 bps
Allowance / Loans1.65%2.17%2.56%2.57%2.47%+82 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 Capital15.33%14.83%14.55%15.01%15.62%+29 bps
Equity / Assets10.06%9.42%9.72%9.88%10.25%+20 bps
Liquidity & Funding
Loans / Deposits76.10%74.77%77.89%74.87%74.36%-174 bps
Liquid Assets / Assets12.17%9.46%6.55%10.29%9.26%-291 bps
CRE / Total Capitaln/an/an/an/an/an/an/a