PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Northwestern State Bank of Orange City

Orange City, IA · Cert 13411

FDIC · 2 branches

Q3 2023

$267.7MAssets
$196.5MLoans
$204.6MDeposits
$34.0MEquity
Loan mix
89%RE $120.7M9%C&I $12.5M2%Consumer $2.3MQ4 2021Q3 2023
Deposit mix
78%Interest-bearing $158.9M22%Noninterest $45.7MQ4 2021Q3 2023

Executive Summary

  • Earnings: ROA of 2.03%, up 18 bps year over year; NIM at 3.56%.
  • Asset quality: problem loans at 0.07% of loans (-10 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 13.37%, up 30 bps from a year ago.
  • Funding: loans stand at 96.04% of deposits as of Q3 2023.

Return on Assets (YTD, annualized)

2.03%+18 bps YoY

Net Interest Margin (YTD, annualized)

3.56%+25 bps YoY

Efficiency Ratio (YTD, annualized)

38.78%-337 bps YoY

Tier 1 Leverage Ratio

13.37%+30 bps YoY

NIM

3.68%Q3 ’213.61%Q3 ’224.51%Q3 ’23+2%+8%

Non-interest income vs. expense

1.75%Q3 ’211.80%Q3 ’221.69%Q3 ’23-5%+6%

Year to date, annualized, through each quarter.

MetricQ4 2021Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023YoY ΔTrend
Earnings
Return on Assets1.75%1.72%1.78%1.84%1.86%1.91%1.97%2.03%+18 bps
Return on Equity13.13%14.23%14.49%14.98%15.09%15.28%15.60%16.01%+104 bps
Net Interest Margin3.20%3.22%3.15%3.31%3.36%3.63%3.62%3.56%+25 bps
Efficiency Ratio43.62%40.91%42.24%42.15%42.24%39.37%39.90%38.78%-337 bps
Non-Interest Burden0.89%0.92%0.83%0.83%0.89%1.08%1.04%0.88%+5 bps
Growth
Asset Growth (YoY)0.69%2.11%-0.49%3.19%0.90%-4.51%2.52%2.03%-117 bps
Loan Growth (YoY)4.57%1.92%-0.18%-1.87%1.28%-0.09%-0.22%1.05%+292 bps
Deposit Growth (YoY)2.58%4.48%1.63%6.30%1.55%-5.04%-0.94%-8.29%-1,459 bps
Asset Quality
Nonperforming Loans / Loans0.09%0.08%0.08%0.16%0.07%0.07%0.07%0.07%-10 bps
Net Charge-Offs / Loans-0.04%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.84%1.91%1.91%1.91%1.82%2.12%2.12%2.09%+19 bps
Allowance Coverage of NPLs21.0x22.7x23.9x11.7x24.6x28.9x30.7x32.1x+20.4x
Capital
Tier 1 Leverage Ratio11.63%12.01%12.27%13.07%12.25%12.78%13.00%13.37%+30 bps
Total Risk-Based Capital11.63%12.01%12.27%13.07%12.25%12.78%13.00%13.37%+30 bps
Equity / Assets12.38%11.74%12.77%12.33%12.34%12.63%12.94%12.69%+36 bps
Liquidity & Funding
Loans / Deposits96.42%86.47%92.63%87.17%96.16%90.98%93.31%96.04%+887 bps
Liquid Assets / Assets6.86%15.65%9.34%12.48%2.02%9.49%1.78%1.62%-1,086 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a