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Jasper State Bank

Jasper, MN · Cert 10563

FDIC

Q4 2005

$17.2MAssets
$10.7MLoans
$13.9MDeposits
$2.6MEquity
Loan mix
64%RE $3.0M31%C&I $1.4M5%Consumer $0.2MQ4 2004Q4 2005
Deposit mix
87%Interest-bearing $12.1M13%Noninterest $1.8MQ4 2004Q4 2005

NIM

6.29%Q4 ’036.52%Q4 ’046.04%Q4 ’05+18%-11%

Non-interest income vs. expense

4.40%Q4 ’034.73%Q4 ’043.84%Q4 ’05+34%-66%

Executive Summary

  • Earnings: ROA of 3.62%, up 151 bps year over year; NIM at 4.06%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.38%.
  • Funding: loans stand at 77.15% of deposits as of Q4 2005.

Financial Results

Return on Assets (YTD, annualized)

3.62%+151 bps YoY

Net Interest Margin (YTD, annualized)

4.06%-50 bps YoY

Efficiency Ratio (YTD, annualized)

58.36%-2,974 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets2.11%0.43%4.26%4.43%3.62%+151 bps
Return on Equity20.18%3.66%34.25%33.78%26.89%+672 bps
Net Interest Margin4.57%3.97%4.06%4.20%4.06%-50 bps
Efficiency Ratio88.11%87.62%48.31%55.11%58.36%-2,974 bps
Non-Interest Burden3.93%3.38%-0.31%0.86%1.32%-261 bps
Growth
Asset Growth (YoY)-4.75%-3.61%0.70%1.61%2.26%+701 bps
Loan Growth (YoY)-13.43%-13.44%-13.68%-8.28%-6.72%+671 bps
Deposit Growth (YoY)-6.50%-4.34%-1.87%-1.99%0.27%+677 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%0.19%-0.07%-0.40%-0.38%-68 bps
Allowance / Loans4.68%5.00%4.92%3.83%4.00%-68 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 Capital16.62%17.56%19.97%21.19%21.75%+513 bps
Equity / Assets11.67%11.66%14.01%15.19%14.89%+321 bps
Liquidity & Funding
Loans / Deposits82.94%75.87%82.18%83.52%77.15%-579 bps
Liquid Assets / Assets0.05%0.04%0.05%0.05%4.08%+403 bps
CRE / Total Capitaln/an/an/an/an/an/an/a