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Letter portraitLegal landscapeQuarterYTD

First National Bank in Viroqua

Viroqua, WI · Cert 14062

FDIC

Q1 2005

$81.2MAssets
$61.7MLoans
$71.3MDeposits
$9.5MEquity
Loan mix
72%RE $26.4M27%C&I $10.0M1%Consumer $0.3MQ1 2004Q1 2005
Deposit mix
89%Interest-bearing $63.3M11%Noninterest $8.0MQ1 2004Q1 2005

NIM

6.72%Q1 ’035.59%Q1 ’045.64%Q1 ’05-14%+5%

Non-interest income vs. expense

2.92%Q1 ’033.04%Q1 ’043.33%Q1 ’05-7%+6%

Executive Summary

  • Earnings: ROA of 1.43%, unchanged from a year ago; NIM at 4.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 86.52% of deposits as of Q1 2005.

Financial Results

Return on Assets (YTD, annualized)

1.43%0 bps YoY

Net Interest Margin (YTD, annualized)

4.13%+18 bps YoY

Efficiency Ratio (YTD, annualized)

67.45%+142 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2004Q2 2004Q3 2004Q4 2004Q1 2005YoY ΔTrend
Earnings
Return on Assets1.43%1.38%1.28%1.28%1.43%0 bps
Return on Equity13.50%12.97%11.88%11.82%12.54%-96 bps
Net Interest Margin3.95%4.04%4.01%4.08%4.13%+18 bps
Efficiency Ratio66.03%67.08%69.14%68.65%67.45%+142 bps
Non-Interest Burden2.39%2.48%2.57%2.60%2.53%+14 bps
Growth
Asset Growth (YoY)-2.04%-4.95%-6.45%-3.92%-6.36%-432 bps
Loan Growth (YoY)-2.88%-6.40%-5.49%-5.23%-9.00%-612 bps
Deposit Growth (YoY)-1.50%-4.65%-6.50%-3.52%-6.11%-461 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.05%0.18%0.24%0.18%0.00%+5 bps
Allowance / Loans1.52%1.52%1.50%1.60%1.69%+17 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 Capital12.44%13.19%13.27%13.57%14.26%+182 bps
Equity / Assets10.72%10.86%11.10%11.16%11.65%+92 bps
Liquidity & Funding
Loans / Deposits89.26%86.85%86.71%84.84%86.52%-274 bps
Liquid Assets / Assets4.21%4.55%3.71%1.56%1.17%-304 bps
CRE / Total Capitaln/an/an/an/an/an/an/a