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Letter portraitLegal landscapeQuarterYTD

State Bank of Trenton

Trenton, NE · Cert 11026

FDIC

Q4 2003

$19.6MAssets
$12.7MLoans
$16.9MDeposits
$2.0MEquity
Deposit mix
91%Interest-bearing $15.3M9%Noninterest $1.5MQ4 2002Q4 2003

NIM

6.90%Q4 ’016.41%Q4 ’025.55%Q4 ’03+12%-5%

Non-interest income vs. expense

2.80%Q4 ’014.16%Q4 ’023.26%Q4 ’03+55%-22%

Executive Summary

  • Earnings: ROA of 0.49%, up 21 bps year over year; NIM at 3.97%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.96%.
  • Funding: loans stand at 75.09% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

0.49%+21 bps YoY

Net Interest Margin (quarter, annualized)

3.97%-19 bps YoY

Efficiency Ratio (quarter, annualized)

75.85%-1,548 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets0.29%0.56%-1.65%1.14%0.49%+21 bps
Return on Equity2.80%5.42%-16.07%11.23%4.86%+206 bps
Net Interest Margin4.16%4.11%3.29%3.92%3.97%-19 bps
Efficiency Ratio91.32%82.43%75.28%59.61%75.85%-1,548 bps
Non-Interest Burden3.77%3.31%2.39%2.23%2.93%-84 bps
Growth
Asset Growth (YoY)5.59%0.71%2.12%0.10%-0.89%-649 bps
Loan Growth (YoY)7.67%3.61%-2.66%-2.10%-6.55%-1,422 bps
Deposit Growth (YoY)4.21%-0.48%1.96%-0.16%-0.79%-500 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.24%0.00%1.55%0.00%2.96%+173 bps
Allowance / Loans1.36%1.62%1.80%1.79%1.14%-22 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 Capital14.80%14.36%14.13%13.46%14.45%-35 bps
Equity / Assets10.04%10.50%10.09%10.27%10.04%-1 bps
Liquidity & Funding
Loans / Deposits79.72%84.60%79.99%79.63%75.09%-463 bps
Liquid Assets / Assets2.77%0.41%5.46%7.39%6.27%+350 bps
CRE / Total Capitaln/an/an/an/an/an/an/a