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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

6.25%Q3 ’015.42%Q3 ’024.95%Q3 ’03+4%+6%

Non-interest income vs. expense

7.02%Q3 ’016.04%Q3 ’025.32%Q3 ’03+46%-6%

Executive Summary

  • Earnings: ROA of -1.88%, up 44 bps year over year; NIM at 3.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 67.22% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

-1.88%+44 bps YoY

Net Interest Margin (quarter, annualized)

3.01%+16 bps YoY

Efficiency Ratio (quarter, annualized)

154.81%-873 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets-2.32%-3.36%-2.53%-1.45%-1.88%+44 bps
Return on Equity-26.26%-31.14%-21.89%-13.85%-18.39%+788 bps
Net Interest Margin2.85%2.85%3.12%3.28%3.01%+16 bps
Efficiency Ratio163.54%183.51%140.57%134.78%154.81%-873 bps
Non-Interest Burden5.19%5.85%4.59%4.55%4.89%-30 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 / Loans0.90%-0.35%0.20%0.00%0.00%-90 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