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First National Bank

Sioux City, IA · Cert 14713

FDIC

Q2 2007

$138.7MAssets
$99.0MLoans
$110.0MDeposits
$13.0MEquity
Loan mix
76%RE $50.9M24%C&I $16.4M0%Consumer $0.0MQ2 2006Q2 2007
Deposit mix
89%Interest-bearing $98.0M11%Noninterest $12.0MQ2 2006Q2 2007

NIM

5.39%Q2 ’055.80%Q2 ’066.10%Q2 ’07-12%-2%

Non-interest income vs. expense

3.03%Q2 ’053.31%Q2 ’063.29%Q2 ’07+10%+5%

Executive Summary

  • Earnings: ROA of 0.08%, down 3 bps year over year; NIM at 2.86%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.18%.
  • Funding: loans stand at 89.97% of deposits as of Q2 2007.

Financial Results

Return on Assets (quarter, annualized)

0.08%-3 bps YoY

Net Interest Margin (quarter, annualized)

2.86%-5 bps YoY

Efficiency Ratio (quarter, annualized)

99.91%+438 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets0.11%-0.14%-0.06%0.05%0.08%-3 bps
Return on Equity0.99%-1.34%-0.64%0.49%0.86%-13 bps
Net Interest Margin2.90%2.79%2.68%2.73%2.86%-5 bps
Efficiency Ratio95.53%108.29%101.13%101.53%99.91%+438 bps
Non-Interest Burden2.79%3.10%2.83%2.84%2.92%+13 bps
Growth
Asset Growth (YoY)0.93%0.33%0.66%1.59%1.13%+20 bps
Loan Growth (YoY)-7.98%-4.36%-5.33%-4.72%3.06%+1,104 bps
Deposit Growth (YoY)4.39%5.42%6.61%4.02%-6.94%-1,133 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.12%0.06%1.06%-1.27%1.18%+130 bps
Allowance / Loans1.59%1.62%1.42%1.74%1.37%-22 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 Capital12.75%10.59%10.68%10.99%10.68%-207 bps
Equity / Assets10.91%9.78%9.70%9.66%9.35%-156 bps
Liquidity & Funding
Loans / Deposits81.24%84.98%81.43%80.33%89.97%+873 bps
Liquid Assets / Assets0.00%0.00%0.03%0.02%0.03%+3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a