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Farmers State Bank

Faith, SD · Cert 1123

FDIC

Q1 2013

$43.7MAssets
$21.9MLoans
$38.8MDeposits
$4.7MEquity
Loan mix
54%RE $3.0M36%C&I $2.0M11%Consumer $0.6MQ1 2012Q1 2013
Deposit mix
88%Interest-bearing $34.1M12%Noninterest $4.7MQ1 2012Q1 2013

NIM

4.72%Q1 ’114.36%Q1 ’123.45%Q1 ’130%-17%

Non-interest income vs. expense

3.18%Q1 ’113.20%Q1 ’123.57%Q1 ’13+3%+14%

Executive Summary

  • Earnings: ROA of -0.28%, down 98 bps year over year; NIM at 3.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 56.35% of deposits as of Q1 2013.

Financial Results

Return on Assets (quarter, annualized)

-0.28%-98 bps YoY

Net Interest Margin (quarter, annualized)

3.01%-60 bps YoY

Efficiency Ratio (quarter, annualized)

107.65%+2,670 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2012Q2 2012Q3 2012Q4 2012Q1 2013YoY ΔTrend
Earnings
Return on Assets0.70%0.97%1.10%1.24%-0.28%-98 bps
Return on Equity6.83%8.70%9.75%11.93%-2.70%-953 bps
Net Interest Margin3.61%3.99%4.04%3.17%3.01%-60 bps
Efficiency Ratio80.95%76.66%73.72%95.54%107.65%+2,670 bps
Non-Interest Burden2.86%2.97%2.87%3.01%3.27%+41 bps
Growth
Asset Growth (YoY)0.21%-2.95%2.65%7.03%6.76%+655 bps
Loan Growth (YoY)-3.01%-6.14%-4.91%-13.07%-11.22%-821 bps
Deposit Growth (YoY)-1.63%-4.56%4.91%6.69%7.01%+863 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.37%-0.02%-0.10%-1.31%0.00%+37 bps
Allowance / Loans2.69%2.64%2.71%2.89%2.74%+5 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 Capital15.98%16.31%16.20%18.25%18.04%+206 bps
Equity / Assets10.81%11.58%10.96%9.95%10.78%-4 bps
Liquidity & Funding
Loans / Deposits67.92%72.20%65.33%48.29%56.35%-1,157 bps
Liquid Assets / Assets3.01%4.88%9.17%14.17%0.00%-301 bps
CRE / Total Capitaln/an/an/an/an/an/an/a