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Letter portraitLegal landscapeQuarterYTD

State Bank of Meriden, The

Meriden, KS · Cert 13734

FDIC

Q1 2004

$33.6MAssets
$23.6MLoans
$29.4MDeposits
$3.5MEquity
Loan mix
75%RE $11.4M22%C&I $3.3M3%Consumer $0.5MQ1 2003Q1 2004
Deposit mix
85%Interest-bearing $24.9M15%Noninterest $4.4MQ1 2003Q1 2004

NIM

6.20%Q1 ’025.13%Q1 ’034.81%Q1 ’04-8%+1%

Non-interest income vs. expense

4.17%Q1 ’026.34%Q1 ’035.39%Q1 ’04+56%-14%

Executive Summary

  • Earnings: ROA of -0.88%, up 74 bps year over year; NIM at 3.87%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.34%.
  • Funding: loans stand at 80.24% of deposits as of Q1 2004.

Financial Results

Return on Assets (YTD, annualized)

-0.88%+74 bps YoY

Net Interest Margin (YTD, annualized)

3.87%+3 bps YoY

Efficiency Ratio (YTD, annualized)

108.40%-2,658 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets-1.62%0.51%0.29%-0.06%-0.88%+74 bps
Return on Equity-15.80%4.89%2.72%-0.56%-8.43%+737 bps
Net Interest Margin3.83%0.43%1.54%2.10%3.87%+3 bps
Efficiency Ratio134.98%44.86%88.46%93.35%108.40%-2,658 bps
Non-Interest Burden5.47%-0.16%1.24%2.17%4.72%-75 bps
Growth
Asset Growth (YoY)-0.39%-7.34%-11.57%-15.87%-11.85%-1,147 bps
Loan Growth (YoY)0.09%-28.86%-22.26%-17.39%-12.63%-1,272 bps
Deposit Growth (YoY)1.22%-6.02%-11.26%-18.07%-11.98%-1,321 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.21%-0.07%-0.50%-0.35%-0.34%-13 bps
Allowance / Loans1.08%3.89%3.98%3.68%3.62%+254 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 Capital13.72%10.37%10.22%10.21%9.89%-384 bps
Equity / Assets10.28%10.90%11.13%10.55%10.39%+11 bps
Liquidity & Funding
Loans / Deposits80.83%66.94%74.16%79.80%80.24%-59 bps
Liquid Assets / Assets0.42%0.48%0.50%0.48%0.45%+3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a