PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Farmers & Merchants State Bank

Ladonia, TX · Cert 10354

FDIC

Q3 2005

$13.4MAssets
$3.7MLoans
$12.4MDeposits
$1.0MEquity
Deposit mix
75%Interest-bearing $9.3M25%Noninterest $3.0MQ3 2004Q3 2005

NIM

4.27%Q3 ’033.99%Q3 ’044.55%Q3 ’05+1%+18%

Non-interest income vs. expense

3.54%Q3 ’034.06%Q3 ’044.10%Q3 ’05+12%-7%

Executive Summary

  • Earnings: ROA of 0.78%, up 119 bps year over year; NIM at 3.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.11%.
  • Funding: loans stand at 30.16% of deposits as of Q3 2005.

Financial Results

Return on Assets (YTD, annualized)

0.78%+119 bps YoY

Net Interest Margin (YTD, annualized)

3.57%+55 bps YoY

Efficiency Ratio (YTD, annualized)

79.10%-1,325 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005YoY ΔTrend
Earnings
Return on Assets-0.41%-0.06%1.09%0.85%0.78%+119 bps
Return on Equity-5.43%-0.79%14.99%11.49%10.48%+1,591 bps
Net Interest Margin3.01%3.04%3.49%3.58%3.57%+55 bps
Efficiency Ratio92.35%89.62%77.17%77.84%79.10%-1,325 bps
Non-Interest Burden2.68%2.58%2.31%2.43%2.48%-20 bps
Growth
Asset Growth (YoY)-10.05%-6.75%-7.88%-9.98%-9.95%+10 bps
Loan Growth (YoY)-14.47%-5.22%-8.65%-9.61%-8.94%+552 bps
Deposit Growth (YoY)-10.08%-6.35%-6.82%-10.44%-10.43%-34 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans3.15%2.30%2.00%1.65%1.11%-205 bps
Allowance / Loans1.10%1.10%0.73%0.80%1.12%+3 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 Capital20.55%20.91%21.74%22.31%23.58%+303 bps
Equity / Assets7.23%7.28%7.28%7.61%7.73%+49 bps
Liquidity & Funding
Loans / Deposits29.67%30.51%31.19%30.45%30.16%+49 bps
Liquid Assets / Assets6.70%6.77%0.00%0.00%0.00%-670 bps
CRE / Total Capitaln/an/an/an/an/an/an/a