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Badger State Bank

Cassville, WI · Cert 13272

FDIC

Q4 2010

$83.8MAssets
$58.5MLoans
$78.5MDeposits
$1.8MEquity
Loan mix
86%RE $27.5M14%C&I $4.6M0%Consumer $0.0MQ4 2009Q4 2010
Deposit mix
92%Interest-bearing $72.4M8%Noninterest $6.1MQ4 2009Q4 2010

NIM

5.44%Q4 ’084.99%Q4 ’094.46%Q4 ’10+11%-1%

Non-interest income vs. expense

2.36%Q4 ’081.93%Q4 ’092.04%Q4 ’10-19%+14%

Executive Summary

  • Earnings: ROA of 0.79%, up 184 bps year over year; NIM at 2.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.53%.
  • Funding: loans stand at 74.48% of deposits as of Q4 2010.

Financial Results

Return on Assets (quarter, annualized)

0.79%+184 bps YoY

Net Interest Margin (quarter, annualized)

2.40%-3 bps YoY

Efficiency Ratio (quarter, annualized)

82.58%+903 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets-1.05%-4.04%-0.31%-3.17%0.79%+184 bps
Return on Equity-28.64%-123.34%-10.49%-132.25%39.60%+6,823 bps
Net Interest Margin2.43%2.48%2.29%2.70%2.40%-3 bps
Efficiency Ratio73.54%141.30%102.51%83.00%82.58%+903 bps
Non-Interest Burden1.73%3.56%2.31%2.32%1.97%+24 bps
Growth
Asset Growth (YoY)-9.46%-8.55%-4.42%-10.11%-11.61%-214 bps
Loan Growth (YoY)-10.74%-12.39%-13.75%-13.11%-16.88%-614 bps
Deposit Growth (YoY)-0.90%-1.21%0.34%-5.39%-7.20%-630 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.09%1.67%3.53%5.06%-0.53%-61 bps
Allowance / Loans3.44%3.59%2.98%3.69%3.95%+52 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 Capital5.83%5.17%5.16%3.76%4.18%-165 bps
Equity / Assets3.55%2.99%2.86%1.87%2.11%-144 bps
Liquidity & Funding
Loans / Deposits83.14%82.34%76.63%78.28%74.48%-867 bps
Liquid Assets / Assets14.64%17.12%18.07%18.28%17.76%+313 bps
CRE / Total Capitaln/an/an/an/an/an/an/a