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Security State Bank of Mankato

Mankato, MN · Cert 13182

FDIC

Q3 2005

$102.0MAssets
$54.3MLoans
$81.5MDeposits
$7.9MEquity
Loan mix
44%RE $12.2M55%C&I $15.1M0%Consumer $0.1MQ3 2004Q3 2005
Deposit mix
89%Interest-bearing $72.9M11%Noninterest $8.6MQ3 2004Q3 2005

NIM

5.30%Q3 ’034.86%Q3 ’045.52%Q3 ’05-7%+4%

Non-interest income vs. expense

2.70%Q3 ’032.64%Q3 ’042.65%Q3 ’05+29%+41%

Executive Summary

  • Earnings: ROA of 0.47%, down 31 bps year over year; NIM at 3.21%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.38%.
  • Funding: loans stand at 66.66% of deposits as of Q3 2005.

Financial Results

Return on Assets (quarter, annualized)

0.47%-31 bps YoY

Net Interest Margin (quarter, annualized)

3.21%+12 bps YoY

Efficiency Ratio (quarter, annualized)

80.66%+1,292 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005YoY ΔTrend
Earnings
Return on Assets0.78%-0.11%0.86%0.97%0.47%-31 bps
Return on Equity9.55%-1.42%11.30%12.92%6.12%-343 bps
Net Interest Margin3.09%3.28%3.30%3.32%3.21%+12 bps
Efficiency Ratio67.74%65.05%65.12%63.54%80.66%+1,292 bps
Non-Interest Burden1.83%1.86%1.90%1.81%2.58%+75 bps
Growth
Asset Growth (YoY)-2.52%-5.65%1.96%5.54%4.18%+670 bps
Loan Growth (YoY)-12.42%-16.03%-8.22%-7.86%-13.60%-118 bps
Deposit Growth (YoY)-2.52%-6.05%2.88%7.28%5.34%+786 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.15%7.18%-0.05%0.43%0.38%+24 bps
Allowance / Loans2.13%1.21%1.23%1.12%1.17%-97 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 Capital11.24%10.95%10.57%10.97%12.04%+79 bps
Equity / Assets8.25%7.73%7.46%7.56%7.71%-54 bps
Liquidity & Funding
Loans / Deposits81.27%74.84%76.17%73.57%66.66%-1,461 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a