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Friona State Bank

Friona, TX · Cert 11908

FDIC

Q3 2010

$89.2MAssets
$79.7MLoans
$79.0MDeposits
$10.0MEquity
Loan mix
71%RE $23.5M28%C&I $9.4M1%Consumer $0.3MQ3 2009Q3 2010
Deposit mix
74%Interest-bearing $58.5M26%Noninterest $20.5MQ3 2009Q3 2010

NIM

5.31%Q3 ’084.75%Q3 ’094.94%Q3 ’10+4%+7%

Non-interest income vs. expense

2.06%Q3 ’082.01%Q3 ’092.22%Q3 ’10+1%+15%

Executive Summary

  • Earnings: ROA of 2.84%, up 27 bps year over year; NIM at 4.27%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.25%.
  • Funding: loans stand at 100.92% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

2.84%+27 bps YoY

Net Interest Margin (quarter, annualized)

4.27%+28 bps YoY

Efficiency Ratio (quarter, annualized)

46.10%+173 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets2.57%1.40%2.31%2.23%2.84%+27 bps
Return on Equity21.71%12.03%20.62%19.55%24.90%+319 bps
Net Interest Margin3.98%4.05%3.96%3.86%4.27%+28 bps
Efficiency Ratio44.37%41.98%47.74%49.22%46.10%+173 bps
Non-Interest Burden1.46%1.39%1.62%1.65%1.67%+21 bps
Growth
Asset Growth (YoY)3.33%3.84%5.82%6.27%6.34%+301 bps
Loan Growth (YoY)3.24%1.04%4.36%0.01%4.51%+127 bps
Deposit Growth (YoY)-0.88%4.17%6.00%6.45%11.32%+1,220 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.03%1.57%0.00%0.00%-0.25%-22 bps
Allowance / Loans1.09%1.07%1.04%1.12%1.03%-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 Capital12.97%12.77%12.47%13.47%12.41%-56 bps
Equity / Assets11.93%11.31%11.13%11.70%11.16%-78 bps
Liquidity & Funding
Loans / Deposits107.50%100.03%100.16%97.07%100.92%-658 bps
Liquid Assets / Assets1.33%3.72%4.21%7.40%3.33%+200 bps
CRE / Total Capitaln/an/an/an/an/an/an/a