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First Security Bank Lake Benton

Lake Benton, MN · Cert 10986

FDIC

Q1 2011

$23.3MAssets
$11.2MLoans
$20.5MDeposits
$2.8MEquity
Loan mix
73%RE $6.6M18%C&I $1.6M9%Consumer $0.8MQ1 2010Q1 2011
Deposit mix
73%Interest-bearing $15.0M27%Noninterest $5.6MQ1 2010Q1 2011

NIM

6.02%Q1 ’095.88%Q1 ’105.24%Q1 ’11+7%-7%

Non-interest income vs. expense

2.65%Q1 ’093.26%Q1 ’103.73%Q1 ’11+48%-5%

Executive Summary

  • Earnings: ROA of 2.04%, up 4 bps year over year; NIM at 4.76%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.14%.
  • Funding: loans stand at 54.69% of deposits as of Q1 2011.

Financial Results

Return on Assets (quarter, annualized)

2.04%+4 bps YoY

Net Interest Margin (quarter, annualized)

4.76%-35 bps YoY

Efficiency Ratio (quarter, annualized)

67.28%+547 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2010Q2 2010Q3 2010Q4 2010Q1 2011YoY ΔTrend
Earnings
Return on Assets2.00%0.04%2.15%2.18%2.04%+4 bps
Return on Equity24.96%0.39%19.66%20.01%18.29%-667 bps
Net Interest Margin5.11%5.09%4.81%4.26%4.76%-35 bps
Efficiency Ratio61.81%66.08%61.92%81.36%67.28%+547 bps
Non-Interest Burden3.10%3.22%2.86%3.38%2.95%-15 bps
Growth
Asset Growth (YoY)-17.94%-21.62%-8.72%1.81%12.77%+3,071 bps
Loan Growth (YoY)-12.21%-12.20%-10.56%-12.02%-8.62%+359 bps
Deposit Growth (YoY)-21.01%-24.06%-13.33%3.70%11.30%+3,231 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.07%1.31%-0.14%0.14%-0.14%-8 bps
Allowance / Loans2.49%2.37%2.63%2.70%2.76%+27 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 Capital15.39%15.83%16.90%17.94%18.96%+358 bps
Equity / Assets9.29%10.59%11.27%10.52%11.79%+250 bps
Liquidity & Funding
Loans / Deposits66.62%66.82%60.83%53.61%54.69%-1,193 bps
Liquid Assets / Assets23.73%5.57%6.59%15.18%13.95%-978 bps
CRE / Total Capitaln/an/an/an/an/an/an/a