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Cedar Valley State Bank

Saint Ansgar, IA · Cert 14688

FDIC

Q3 2003

$11.9MAssets
$6.9MLoans
$10.3MDeposits
$1.2MEquity
Deposit mix
92%Interest-bearing $9.5M8%Noninterest $0.8MQ3 2002Q3 2003

NIM

6.57%Q3 ’015.19%Q3 ’025.20%Q3 ’03-6%+28%

Non-interest income vs. expense

5.64%Q3 ’015.60%Q3 ’025.12%Q3 ’03+47%+4%

Executive Summary

  • Earnings: ROA of -1.97%, up 7 bps year over year; NIM at 3.14%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.08%.
  • Funding: loans stand at 67.22% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

-1.97%+7 bps YoY

Net Interest Margin (YTD, annualized)

3.14%+69 bps YoY

Efficiency Ratio (YTD, annualized)

143.08%-1,468 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets-2.04%-2.36%-2.53%-1.99%-1.97%+7 bps
Return on Equity-25.26%-26.15%-21.89%-17.93%-18.08%+718 bps
Net Interest Margin2.45%2.48%3.12%3.09%3.14%+69 bps
Efficiency Ratio157.76%164.44%140.57%137.56%143.08%-1,468 bps
Non-Interest Burden4.50%4.71%4.59%4.41%4.68%+18 bps
Growth
Asset Growth (YoY)1.21%2.00%18.55%16.56%13.55%+1,235 bps
Loan Growth (YoY)-16.92%21.64%57.63%49.83%29.80%+4,672 bps
Deposit Growth (YoY)-1.71%-7.32%15.03%15.31%16.42%+1,813 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%0.09%0.20%0.10%0.08%-22 bps
Allowance / Loans0.99%1.01%1.20%1.31%1.47%+48 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 Capital16.83%20.84%17.06%17.69%16.93%+9 bps
Equity / Assets8.80%12.64%10.55%10.33%10.13%+133 bps
Liquidity & Funding
Loans / Deposits60.29%75.60%75.06%73.34%67.22%+693 bps
Liquid Assets / Assets11.56%10.35%7.14%8.35%6.28%-528 bps
CRE / Total Capitaln/an/an/an/an/an/an/a