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Farmers State Bank

Elgin, ND · Cert 11514

FDIC

Q4 2005

$30.4MAssets
$20.9MLoans
$23.1MDeposits
$2.9MEquity
Deposit mix
87%Interest-bearing $20.3M13%Noninterest $2.9MQ1 2004Q4 2005

Executive Summary

  • Earnings: ROA of 1.46%, down 37 bps year over year; NIM at 3.73%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.92%.
  • Funding: loans stand at 90.43% of deposits as of Q4 2005.

Return on Assets (YTD, annualized)

1.46%-37 bps YoY

Net Interest Margin (YTD, annualized)

3.73%+13 bps YoY

Efficiency Ratio (YTD, annualized)

45.57%-364 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

5.72%Q4 ’035.31%Q4 ’045.97%Q4 ’05-3%+4%

Non-interest income vs. expense

2.26%Q4 ’032.02%Q4 ’041.88%Q4 ’05-16%-2%

Year to date, annualized, through each quarter.

MetricQ1 2004Q2 2004Q3 2004Q4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets2.24%2.16%1.97%1.84%1.21%1.70%1.65%1.46%-37 bps
Return on Equity21.30%20.93%19.12%17.68%12.19%17.65%17.49%15.55%-213 bps
Net Interest Margin3.60%3.66%3.59%3.60%3.45%3.65%3.70%3.73%+13 bps
Efficiency Ratio46.29%47.07%48.77%49.21%48.93%46.15%45.49%45.57%-364 bps
Non-Interest Burden1.23%1.40%1.48%1.52%1.44%1.46%1.47%1.49%-3 bps
Growth
Asset Growth (YoY)2.47%2.62%9.91%7.86%9.57%14.39%12.78%12.17%+431 bps
Loan Growth (YoY)0.75%3.73%9.46%15.16%12.81%11.43%11.89%9.23%-592 bps
Deposit Growth (YoY)4.22%-5.15%-4.08%1.85%1.38%17.39%7.87%6.18%+432 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.02%0.06%0.04%0.03%-0.04%-0.07%-0.07%0.92%+89 bps
Allowance / Loans2.10%1.89%1.86%2.12%2.25%2.19%2.34%2.05%-7 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital14.37%14.86%14.46%15.10%13.72%13.85%13.28%14.12%-98 bps
Equity / Assets10.26%9.96%10.18%10.78%9.08%9.11%8.87%9.41%-136 bps
Liquidity & Funding
Loans / Deposits75.30%87.82%95.63%87.90%83.79%83.37%99.19%90.43%+253 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a