PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Independence Bank

New Albany, IN · Cert 11338

FDIC

Q3 2008

$297.7MAssets
$243.3MLoans
$210.7MDeposits
$40.1MEquity
Loan mix
91%RE $174.5M9%C&I $16.9M0%Consumer $0.0MQ3 2007Q3 2008
Deposit mix
91%Interest-bearing $191.7M9%Noninterest $19.0MQ3 2007Q3 2008

NIM

6.46%Q3 ’066.50%Q3 ’070.62%Q3 ’08-9%-88%

Non-interest income vs. expense

2.45%Q3 ’062.77%Q3 ’070.29%Q3 ’08+15%-90%

Executive Summary

  • Earnings: ROA of 0.08%, down 42 bps year over year; NIM at 0.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.07%.
  • Funding: loans stand at 115.46% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

0.08%-42 bps YoY

Net Interest Margin (YTD, annualized)

0.35%-264 bps YoY

Efficiency Ratio (YTD, annualized)

68.32%-850 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.51%-1.14%0.54%-0.50%0.08%-42 bps
Return on Equity3.67%-8.47%4.29%-3.94%0.66%-302 bps
Net Interest Margin3.00%2.95%2.62%2.81%0.35%-264 bps
Efficiency Ratio76.82%77.30%81.56%85.66%68.32%-850 bps
Non-Interest Burden2.18%2.98%1.99%2.31%0.22%-196 bps
Growth
Asset Growth (YoY)1.03%1.73%-0.13%-4.01%-12.51%-1,354 bps
Loan Growth (YoY)-2.80%1.09%-0.38%-1.27%-9.20%-640 bps
Deposit Growth (YoY)-1.13%0.10%9.03%-12.77%-19.95%-1,882 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.52%0.43%0.82%0.94%0.07%-45 bps
Allowance / Loans1.11%2.56%2.40%3.12%3.30%+220 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 Capital14.92%13.88%14.10%13.86%14.39%-54 bps
Equity / Assets13.99%12.27%12.88%12.57%13.48%-51 bps
Liquidity & Funding
Loans / Deposits101.79%108.91%98.23%113.18%115.46%+1,367 bps
Liquid Assets / Assets2.94%2.77%2.98%2.80%3.15%+21 bps
CRE / Total Capitaln/an/an/an/an/an/an/a