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Farmers State Bank of Elkton

Elkton, MN · Cert 1416

FDIC

Q4 2013

$53.1MAssets
$24.7MLoans
$48.2MDeposits
$4.9MEquity
Loan mix
77%RE $13.6M16%C&I $2.9M7%Consumer $1.2MQ4 2012Q4 2013
Deposit mix
80%Interest-bearing $38.5M20%Noninterest $9.7MQ4 2012Q4 2013

NIM

3.94%Q4 ’113.80%Q4 ’123.36%Q4 ’13+3%-10%

Non-interest income vs. expense

1.90%Q4 ’111.73%Q4 ’121.71%Q4 ’13-3%-4%

Executive Summary

  • Earnings: ROA of 1.13%, up 16 bps year over year; NIM at 2.92%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.57%.
  • Funding: loans stand at 51.29% of deposits as of Q4 2013.

Financial Results

Return on Assets (YTD, annualized)

1.13%+16 bps YoY

Net Interest Margin (YTD, annualized)

2.92%-34 bps YoY

Efficiency Ratio (YTD, annualized)

56.01%+424 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2012Q1 2013Q2 2013Q3 2013Q4 2013YoY ΔTrend
Earnings
Return on Assets0.97%1.46%1.19%1.21%1.13%+16 bps
Return on Equity8.88%14.41%12.33%12.88%11.99%+311 bps
Net Interest Margin3.26%2.97%2.91%2.86%2.92%-34 bps
Efficiency Ratio51.77%48.07%54.14%55.21%56.01%+424 bps
Non-Interest Burden1.65%1.36%1.49%1.51%1.58%-7 bps
Growth
Asset Growth (YoY)4.02%14.69%15.48%11.58%4.50%+48 bps
Loan Growth (YoY)2.82%3.47%-4.42%-5.96%-1.51%-433 bps
Deposit Growth (YoY)7.35%16.45%17.25%13.78%6.17%-118 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.62%0.00%0.00%0.03%0.57%-5 bps
Allowance / Loans1.60%1.78%1.80%1.79%1.52%-8 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 Capital15.35%15.43%15.03%15.03%15.15%-20 bps
Equity / Assets10.62%9.64%8.70%8.85%9.22%-141 bps
Liquidity & Funding
Loans / Deposits55.29%49.79%49.01%48.37%51.29%-400 bps
Liquid Assets / Assets4.75%5.42%6.40%7.01%7.39%+264 bps
CRE / Total Capitaln/an/an/an/an/an/an/a