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First State Bank

Beaver City, NE · Cert 12636

FDIC

Q4 2010

$47.6MAssets
$23.5MLoans
$40.5MDeposits
$7.1MEquity
Deposit mix
91%Interest-bearing $37.0M9%Noninterest $3.5MQ4 2009Q4 2010

NIM

5.87%Q4 ’085.60%Q4 ’094.15%Q4 ’10+17%-26%

Non-interest income vs. expense

2.26%Q4 ’082.24%Q4 ’091.86%Q4 ’10+2%-19%

Executive Summary

  • Earnings: ROA of 1.10%, down 55 bps year over year; NIM at 2.67%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
  • Funding: loans stand at 57.95% of deposits as of Q4 2010.

Financial Results

Return on Assets (quarter, annualized)

1.10%-55 bps YoY

Net Interest Margin (quarter, annualized)

2.67%-96 bps YoY

Efficiency Ratio (quarter, annualized)

62.61%+591 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets1.65%1.20%1.60%1.78%1.10%-55 bps
Return on Equity9.89%7.14%9.18%10.07%6.78%-310 bps
Net Interest Margin3.63%2.48%2.90%2.99%2.67%-96 bps
Efficiency Ratio56.70%55.59%50.92%47.30%62.61%+591 bps
Non-Interest Burden1.92%1.24%1.29%1.19%1.56%-36 bps
Growth
Asset Growth (YoY)-0.07%0.95%-0.16%-2.38%3.57%+363 bps
Loan Growth (YoY)-14.28%-11.29%-3.11%-6.01%-1.04%+1,324 bps
Deposit Growth (YoY)-0.86%0.01%-1.58%-3.52%5.88%+673 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.89%0.14%1.85%-0.03%-0.03%+86 bps
Allowance / Loans1.48%1.47%0.92%0.95%0.99%-49 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 Capital23.91%24.60%24.47%23.52%21.13%-278 bps
Equity / Assets16.65%17.09%17.73%17.64%14.84%-181 bps
Liquidity & Funding
Loans / Deposits62.00%61.90%66.60%65.39%57.95%-405 bps
Liquid Assets / Assets0.00%0.00%1.09%1.11%1.04%+104 bps
CRE / Total Capitaln/an/an/an/an/an/an/a