PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Elgin State Bank

Elgin, IA · Cert 10489

FDIC · 2 branches

Q4 2024

$29.5MAssets
$19.2MLoans
$28.6MDeposits
$838KEquity
Loan mix
73%RE $11.3M18%C&I $2.8M8%Consumer $1.3MQ1 2023Q4 2024
Deposit mix
65%Interest-bearing $18.5M35%Noninterest $10.1MQ1 2023Q4 2024

Executive Summary

  • Earnings: ROA of -0.49%, down 45 bps year over year; NIM at 2.46%.
  • Asset quality: problem loans at 0.00% of loans (-33 bps YoY), with net charge-offs at 0.13%.
  • Capital: tier 1 leverage ratio of 5.87%, down 60 bps from a year ago.
  • Funding: loans stand at 67.23% of deposits as of Q4 2024.

Return on Assets (YTD, annualized)

-0.49%-45 bps YoY

Net Interest Margin (YTD, annualized)

2.46%-42 bps YoY

Efficiency Ratio (YTD, annualized)

117.88%+1,367 bps YoY

Tier 1 Leverage Ratio

5.87%-60 bps YoY

NIM

3.29%Q4 ’223.82%Q4 ’234.17%Q4 ’24-5%-15%

Non-interest income vs. expense

2.99%Q4 ’223.16%Q4 ’233.08%Q4 ’24+6%-3%

Year to date, annualized, through each quarter.

MetricQ1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024YoY ΔTrend
Earnings
Return on Assets0.03%1-0.04%0.00%-0.04%-0.35%-0.52%-0.53%-0.49%-45 bps
Return on Equity1.23%-1.54%-0.18%-1.54%-11.80%-17.78%-17.09%-16.04%-1,450 bps
Net Interest Margin3.09%3.05%2.98%2.88%2.60%2.54%2.57%2.46%-42 bps
Efficiency Ratio101.76%102.91%101.79%104.20%113.17%118.07%118.35%117.88%+1,367 bps
Non-Interest Burden3.15%3.15%3.03%3.00%2.97%3.03%3.07%2.92%-8 bps
Growth
Asset Growth (YoY)-6.94%-0.45%1.83%4.75%6.89%0.47%-1.73%-0.74%-549 bps
Loan Growth (YoY)12.96%14.31%3.73%1.62%1.87%1.11%0.52%1.00%-63 bps
Deposit Growth (YoY)-5.46%0.26%3.48%4.12%6.61%0.20%-3.21%-0.56%-468 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.33%0.33%0.33%0.33%0.27%0.00%0.00%-33 bps
Net Charge-Offs / Loans0.00%-0.01%-0.01%-0.01%0.00%0.00%0.10%0.13%+14 bps
Allowance / Loans0.82%0.83%0.83%0.83%0.83%0.82%0.78%0.72%-11 bps
Allowance Coverage of NPLsn/a2.5x2.5x2.5x2.5x3.0xn/an/an/a
Capital
Tier 1 Leverage Ratio6.79%6.80%6.63%6.47%6.34%6.23%6.20%5.87%-60 bps
Total Risk-Based Capital13.61%12.89%12.84%12.57%12.64%12.37%12.10%11.37%-120 bps
Equity / Assets2.92%2.80%2.28%3.05%2.88%2.92%3.62%2.84%-21 bps
Liquidity & Funding
Loans / Deposits68.56%68.65%67.89%66.19%65.52%69.27%70.51%67.23%+104 bps
Liquid Assets / Assets9.84%9.50%9.97%10.51%13.51%8.26%6.24%13.27%+276 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a