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Lake Area Bank

Lindstrom, MN · Cert 1390

FDIC · 5 branches

Q3 2022

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q3 2022, the quarter ended September 30, 2022, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Lake Area Bank

Lindstrom, MN · Cert 1390

FDIC · 5 branches

Q3 2022

$149.2MAssets
$7.8MLoans
$118.1MDeposits
$27.7MEquity
Loan mix
78%RE $5.3M20%C&I $1.4M2%Consumer $0.1MQ3 2021Q3 2022
Deposit mix
81%Interest-bearing $95.7M19%Noninterest $22.4MQ3 2021Q3 2022

NIM

4.27%Q3 ’203.76%Q3 ’214.32%Q3 ’22-4%+14%

Non-interest income vs. expense

5.77%Q3 ’207.38%Q3 ’218.04%Q3 ’22+683%-1562%

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2022 SOD (annual) · 0.2% share · #40 of 138 inst. · $0.4B of $232.4B

0.4% Ramsey
10.8% Chisago
1.1% Washington

Executive Summary

  • Earnings: ROA of 7.58%, up 478 bps year over year; NIM at 4.14%.
  • Asset quality: problem loans at 1.04% of loans (+29 bps YoY), with net recoveries of 3.30%.
  • Capital: tier 1 leverage ratio of 9.46%, down 199 bps from a year ago.
  • Funding: loans stand at 6.65% of deposits as of Q3 2022.

Financial Results

Return on Assets (YTD, annualized)

7.58%+478 bps YoY

Net Interest Margin (YTD, annualized)

4.14%+49 bps YoY

Efficiency Ratio (YTD, annualized)

32.85%-4,038 bps YoY

Tier 1 Leverage Ratio

9.46%-199 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2021Q4 2021Q1 2022Q2 2022Q3 2022YoY ΔTrend
Earnings
Return on Assets2.80%2.85%0.36%0.74%7.58%+478 bps
Return on Equity23.75%23.75%2.91%6.28%60.46%+3,671 bps
Net Interest Margin3.64%3.59%3.01%3.29%4.14%+49 bps
Efficiency Ratio73.23%77.64%91.88%83.86%32.85%-4,038 bps
Non-Interest Burden0.84%1.35%2.53%2.27%-12.29%-1,314 bps
Growth
Asset Growth (YoY)1.70%-4.27%-7.55%-3.46%-65.92%-6,762 bps
Loan Growth (YoY)-7.31%-19.10%-11.11%-12.76%-97.22%-8,991 bps
Deposit Growth (YoY)9.85%9.73%-0.93%8.56%-67.23%-7,708 bps
Asset Quality
Nonperforming Loans / Loans0.75%0.78%0.95%0.98%1.04%+29 bps
Net Charge-Offs / Loans-0.03%-0.03%0.00%0.00%-3.30%-327 bps
Allowance / Loans1.10%1.15%1.15%1.13%1.04%-6 bps
Allowance Coverage of NPLs1.5x1.5x1.2x1.2x1.0x-0.5x
Capital
Tier 1 Leverage Ratio11.45%12.23%12.73%13.66%9.46%-199 bps
Total Risk-Based Capital13.25%14.22%15.22%16.62%9.46%-379 bps
Equity / Assets12.42%12.86%11.94%10.64%18.59%+617 bps
Liquidity & Funding
Loans / Deposits78.36%70.38%72.36%67.96%6.65%-7,172 bps
Liquid Assets / Assets1.81%7.04%1.81%1.20%6.04%+423 bps
CRE / Total Capitaln/an/an/an/an/an/an/a