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Letter portraitLegal landscapeQuarterYTD

First Security State Bank of Southeast Missouri

Caruthersville, MO · Cert 14218

FDIC

Q1 2005

$62.5MAssets
$56.6MLoans
$50.1MDeposits
$5.3MEquity
Loan mix
87%RE $30.2M13%C&I $4.3M0%Consumer $0.1MQ1 2004Q1 2005
Deposit mix
90%Interest-bearing $44.8M10%Noninterest $5.2MQ1 2004Q1 2005

NIM

5.83%Q1 ’035.21%Q1 ’045.66%Q1 ’05-11%+11%

Non-interest income vs. expense

3.25%Q1 ’033.10%Q1 ’042.96%Q1 ’05-4%-4%

Executive Summary

  • Earnings: ROA of 1.23%, up 21 bps year over year; NIM at 4.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.17%.
  • Funding: loans stand at 113.00% of deposits as of Q1 2005.

Financial Results

Return on Assets (YTD, annualized)

1.23%+21 bps YoY

Net Interest Margin (YTD, annualized)

4.13%+40 bps YoY

Efficiency Ratio (YTD, annualized)

60.05%-748 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 Assets1.02%1.07%1.07%1.03%1.23%+21 bps
Return on Equity11.83%12.62%12.76%12.26%14.61%+278 bps
Net Interest Margin3.73%3.88%3.65%3.74%4.13%+40 bps
Efficiency Ratio67.53%70.88%66.14%64.71%60.05%-748 bps
Non-Interest Burden2.26%2.52%2.16%2.16%2.18%-8 bps
Growth
Asset Growth (YoY)9.99%10.54%17.93%7.03%11.72%+173 bps
Loan Growth (YoY)18.95%17.57%23.43%17.69%11.10%-785 bps
Deposit Growth (YoY)7.43%2.11%12.64%7.87%5.35%-208 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.03%0.03%0.06%0.17%+15 bps
Allowance / Loans0.95%0.89%0.92%1.07%0.99%+4 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 Capital10.34%10.24%10.12%10.87%10.61%+27 bps
Equity / Assets8.39%8.24%8.02%8.32%8.52%+12 bps
Liquidity & Funding
Loans / Deposits107.16%117.48%114.89%100.96%113.00%+584 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a