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Morrill and Janes Bank and Trust Company, The

Hiawatha, KS · Cert 1143

FDIC · 9 branches

Q1 2023

$1.4BAssets
$770.9MLoans
$1.2BDeposits
$166.7MEquity
Loan mix
62%RE $356.6M35%C&I $202.9M3%Consumer $17.5MQ2 2021Q1 2023
Deposit mix
76%Interest-bearing $946.2M24%Noninterest $298.4MQ2 2021Q1 2023

Market Position · Kansas City, MO-KS · 2022 SOD (annual) · 1.2% share · #16 of 120 inst. · $1.0B of $85.8B

3.3% Johnson
9.7% Nemaha
23.8% Brown
0.8% Clay

Executive Summary

  • Earnings: ROA of 1.06%, down 19 bps year over year; NIM at 3.05%.
  • Asset quality: problem loans at 0.62% of loans (-26 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 11.13%, down 1 bps from a year ago.
  • Funding: loans stand at 61.94% of deposits as of Q1 2023.

Return on Assets (quarter, annualized)

1.06%-19 bps YoY

Net Interest Margin (quarter, annualized)

3.05%+6 bps YoY

Efficiency Ratio (quarter, annualized)

56.61%-98 bps YoY

Tier 1 Leverage Ratio

11.13%-1 bps YoY

NIM

3.24%Q1 ’212.98%Q1 ’224.19%Q1 ’23-8%+2%

Non-interest income vs. expense

2.19%Q1 ’211.99%Q1 ’222.01%Q1 ’23-11%-2%

Discrete quarter, annualized.

MetricQ2 2021Q3 2021Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023YoY ΔTrend
Earnings
Return on Assets1.46%1.15%0.96%1.25%1.55%1.35%1.66%1.06%-19 bps
Return on Equity10.28%8.13%6.94%9.38%12.48%11.90%15.05%9.34%-4 bps
Net Interest Margin3.15%3.22%3.07%2.99%3.07%3.12%3.38%3.05%+6 bps
Efficiency Ratio56.47%58.01%58.63%57.59%50.37%48.66%46.46%56.61%-98 bps
Non-Interest Burden1.71%1.79%1.68%1.60%1.32%1.33%1.34%1.57%-3 bps
Growth
Asset Growth (YoY)2.84%2.97%4.81%0.15%1.04%-1.73%-1.14%0.38%+23 bps
Loan Growth (YoY)-16.86%-12.80%-1.10%-4.91%4.97%8.60%3.27%6.97%+1,188 bps
Deposit Growth (YoY)2.62%4.37%3.60%0.65%4.39%2.66%5.07%4.96%+432 bps
Asset Quality
Nonperforming Loans / Loans1.02%0.90%0.88%0.89%0.66%0.67%0.60%0.62%-26 bps
Net Charge-Offs / Loans0.44%0.06%0.03%0.01%0.16%0.03%0.00%0.01%0 bps
Allowance / Loans1.34%1.25%1.25%1.12%0.87%0.79%0.77%0.82%-29 bps
Allowance Coverage of NPLs1.3x1.4x1.4x1.3x1.3x1.2x1.3x1.3x+0.1x
Capital
Tier 1 Leverage Ratio10.93%11.05%10.75%11.15%10.85%10.65%10.75%11.13%-1 bps
Total Risk-Based Capital17.96%16.77%16.74%17.55%16.41%15.34%16.07%16.82%-74 bps
Equity / Assets14.36%13.84%13.78%12.94%11.82%10.89%11.15%11.63%-131 bps
Liquidity & Funding
Loans / Deposits62.56%61.60%64.11%60.78%62.90%65.17%63.01%61.94%+116 bps
Liquid Assets / Assets1.20%1.16%1.06%1.02%0.78%2.45%2.33%2.47%+144 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a