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Security State Bank

Dunseith, ND · Cert 11518

FDIC

Q3 2011

$62.4MAssets
$36.9MLoans
$57.0MDeposits
$4.8MEquity
Loan mix
59%RE $15.7M11%C&I $2.9M30%Consumer $7.9MQ3 2010Q3 2011
Deposit mix
81%Interest-bearing $46.5M19%Noninterest $10.6MQ3 2010Q3 2011

NIM

5.38%Q3 ’094.89%Q3 ’104.22%Q3 ’11-5%-9%

Non-interest income vs. expense

3.70%Q3 ’093.49%Q3 ’103.40%Q3 ’11-2%-6%

Executive Summary

  • Earnings: ROA of 1.77%, up 112 bps year over year; NIM at 3.33%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 64.75% of deposits as of Q3 2011.

Financial Results

Return on Assets (quarter, annualized)

1.77%+112 bps YoY

Net Interest Margin (quarter, annualized)

3.33%-35 bps YoY

Efficiency Ratio (quarter, annualized)

84.35%+276 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets0.65%0.66%0.37%0.47%1.77%+112 bps
Return on Equity8.46%8.69%5.20%6.58%23.48%+1,502 bps
Net Interest Margin3.68%3.48%3.02%3.13%3.33%-35 bps
Efficiency Ratio81.59%80.13%88.91%85.74%84.35%+276 bps
Non-Interest Burden2.92%2.71%2.65%2.63%2.73%-19 bps
Growth
Asset Growth (YoY)12.73%8.97%9.50%3.65%5.44%-729 bps
Loan Growth (YoY)2.72%2.83%-3.06%-5.35%-2.60%-532 bps
Deposit Growth (YoY)13.82%9.60%10.33%3.98%5.70%-812 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.03%0.15%-0.05%0.02%0.01%+4 bps
Allowance / Loans1.47%1.47%1.64%1.58%1.12%-35 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 Capital12.25%12.49%12.44%12.57%12.56%+31 bps
Equity / Assets7.74%7.49%6.76%7.40%7.67%-7 bps
Liquidity & Funding
Loans / Deposits70.27%66.56%56.86%63.53%64.75%-552 bps
Liquid Assets / Assets0.22%0.22%0.59%0.62%0.42%+21 bps
CRE / Total Capitaln/an/an/an/an/an/an/a