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Letter portraitLegal landscapeQuarterYTD

Citizens State Bank of Gaylord

Gaylord, MN · Cert 1400

FDIC

Q1 2002

$54.2MAssets
$41.2MLoans
$41.7MDeposits
$4.5MEquity
Loan mix
76%RE $14.1M24%C&I $4.4M0%Consumer $0.1MQ1 2001Q1 2002
Deposit mix
94%Interest-bearing $39.3M6%Noninterest $2.4MQ1 2001Q1 2002

NIM

8.02%Q1 ’017.36%Q1 ’02+16%

Non-interest income vs. expense

3.33%Q1 ’012.51%Q1 ’02-37%

Executive Summary

  • Earnings: ROA of 1.04%, up 90 bps year over year; NIM at 3.77%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 98.77% of deposits as of Q1 2002.

Financial Results

Return on Assets (YTD, annualized)

1.04%+90 bps YoY

Net Interest Margin (YTD, annualized)

3.77%+53 bps YoY

Efficiency Ratio (YTD, annualized)

57.56%-3,655 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets0.14%0.66%0.63%0.65%1.04%+90 bps
Return on Equityn/an/an/an/a12.39%n/an/a
Net Interest Margin3.24%3.61%3.53%3.62%3.77%+53 bps
Efficiency Ratio94.10%81.83%78.07%73.45%57.56%-3,655 bps
Non-Interest Burden3.03%2.89%2.68%2.56%1.92%-111 bps
Growth
Asset Growth (YoY)6.84%0.34%4.82%4.60%3.50%-334 bps
Loan Growth (YoY)5.84%1.93%8.55%6.76%2.66%-318 bps
Deposit Growth (YoY)14.10%2.27%4.28%2.18%1.30%-1,280 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.23%0.37%0.59%0.58%0.15%-8 bps
Allowance / Loans1.79%1.67%1.41%1.59%1.69%-10 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 Capital12.08%12.40%12.44%12.52%12.02%-6 bps
Equity / Assets8.42%8.66%8.48%8.43%8.37%-6 bps
Liquidity & Funding
Loans / Deposits97.45%99.76%100.30%98.72%98.77%+131 bps
Liquid Assets / Assets0.04%0.16%0.08%0.37%0.34%+30 bps
CRE / Total Capitaln/an/an/an/an/an/an/a