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Letter portraitLegal landscapeQuarterYTD

State Bank of Withee

Withee, WI · Cert 12779

FDIC

Q3 2008

$63.4MAssets
$48.6MLoans
$55.0MDeposits
$7.4MEquity
Loan mix
90%RE $28.8M9%C&I $3.0M1%Consumer $0.3MQ3 2007Q3 2008
Deposit mix
77%Interest-bearing $42.3M23%Noninterest $12.7MQ3 2007Q3 2008

NIM

5.67%Q3 ’066.06%Q3 ’075.67%Q3 ’080%-2%

Non-interest income vs. expense

3.20%Q3 ’063.33%Q3 ’073.25%Q3 ’08+10%-4%

Executive Summary

  • Earnings: ROA of 0.90%, down 2 bps year over year; NIM at 3.69%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 88.27% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

0.90%-2 bps YoY

Net Interest Margin (YTD, annualized)

3.69%-9 bps YoY

Efficiency Ratio (YTD, annualized)

69.53%-73 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.92%0.92%0.79%0.76%0.90%-2 bps
Return on Equity8.12%8.27%7.36%6.94%8.11%-1 bps
Net Interest Margin3.78%3.67%3.61%3.58%3.69%-9 bps
Efficiency Ratio70.26%69.44%72.65%73.63%69.53%-73 bps
Non-Interest Burden2.37%2.28%2.37%2.39%2.27%-10 bps
Growth
Asset Growth (YoY)7.01%9.25%4.64%5.95%1.05%-596 bps
Loan Growth (YoY)10.67%6.07%10.54%13.01%10.85%+18 bps
Deposit Growth (YoY)7.25%10.26%4.18%6.54%-0.19%-744 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%0.00%-0.01%0.04%0.02%+3 bps
Allowance / Loans1.43%1.47%1.46%1.33%1.32%-11 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 Capital17.39%16.85%17.01%16.28%16.57%-83 bps
Equity / Assets11.18%10.43%11.15%11.13%11.60%+41 bps
Liquidity & Funding
Loans / Deposits79.47%73.21%78.24%83.90%88.27%+879 bps
Liquid Assets / Assets1.18%2.06%2.88%3.10%2.83%+165 bps
CRE / Total Capitaln/an/an/an/an/an/an/a