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Western Bank & Trust

Moville, IA · Cert 10894

FDIC

Q3 2003

$44.0MAssets
$38.6MLoans
$32.0MDeposits
$3.8MEquity
Deposit mix
91%Interest-bearing $29.2M9%Noninterest $2.8MQ3 2002Q3 2003

NIM

7.60%Q3 ’016.55%Q3 ’025.64%Q3 ’030%-7%

Non-interest income vs. expense

2.57%Q3 ’012.75%Q3 ’022.39%Q3 ’03-11%+2%

Executive Summary

  • Earnings: ROA of 0.94%, down 14 bps year over year; NIM at 3.19%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
  • Funding: loans stand at 120.42% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

0.94%-14 bps YoY

Net Interest Margin (quarter, annualized)

3.19%-23 bps YoY

Efficiency Ratio (quarter, annualized)

59.24%+228 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.08%1.05%0.52%0.73%0.94%-14 bps
Return on Equity12.51%11.65%5.61%7.92%10.67%-184 bps
Net Interest Margin3.42%3.46%2.80%2.91%3.19%-23 bps
Efficiency Ratio56.96%58.98%73.11%67.70%59.24%+228 bps
Non-Interest Burden1.55%1.66%1.83%1.66%1.58%+4 bps
Growth
Asset Growth (YoY)7.14%2.47%-1.82%2.53%8.58%+145 bps
Loan Growth (YoY)4.90%3.31%-4.75%3.22%12.01%+710 bps
Deposit Growth (YoY)9.22%9.32%12.30%-0.32%4.45%-477 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.03%0.00%0.01%0.00%-0.03%0 bps
Allowance / Loans0.98%1.07%1.12%1.05%1.01%+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 Capital10.33%11.37%11.67%10.78%10.62%+29 bps
Equity / Assets8.72%9.28%9.43%8.98%8.61%-11 bps
Liquidity & Funding
Loans / Deposits112.30%103.27%101.03%116.32%120.42%+812 bps
Liquid Assets / Assets4.32%4.03%5.21%4.81%3.57%-75 bps
CRE / Total Capitaln/an/an/an/an/an/an/a