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State Farm Indiana

West Lafayette, IN · Charter 14729

Q1 2004

$59.7MAssets
$19.9MLoans
$55.3MShares
$4.4MNet Worth

NIM

NIM decomposition not available for credit unions

Non-interest income vs. expense

Non-interest trend not available for credit unions

Executive Summary

  • Earnings: ROA of -9.39%, down 1,008 bps year over year; NIM at -8.82%.
  • Asset quality: problem loans at 0.82% of loans (+38 bps YoY).
  • Capital: net worth / assets of 7.37%, down 353 bps from a year ago.
  • Funding: loans stand at 35.94% of shares as of Q1 2004.

Financial Results

Return on Assets (YTD, annualized)

-9.39%-1,008 bps YoY

Net Interest Margin (YTD, annualized)

-8.82%-1,001 bps YoY

Efficiency Ratio (YTD, annualized)

n/a

Net Worth / Assets

7.37%-353 bps YoY

Year to date, annualized, through each quarter.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets0.68%0.77%0.92%-0.70%-9.39%-1,008 bps
Return on Equity6.28%6.90%8.29%-7.27%-127.39%-13,366 bps
Net Interest Margin1.18%1.32%1.39%-0.30%-8.82%-1,001 bps
Efficiency Ratio15.59%13.94%14.68%n/an/an/a
Growth
Asset Growth (YoY)23.90%14.71%13.70%9.72%2.87%-2,104 bps
Loan Growth (YoY)-7.89%-5.49%-3.75%-2.50%-4.98%+291 bps
Share Growth (YoY)26.67%16.30%15.01%12.08%7.82%-1,885 bps
Asset Quality
Delinquent Loans / Loans0.44%0.52%0.67%0.76%0.82%+38 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans0.35%0.50%0.51%0.50%0.54%+19 bps
Capital
Risk-Based Capital10.90%11.10%11.12%9.57%7.37%-353 bps
Net Worth / Assets10.90%11.10%11.12%9.57%7.37%-353 bps
Liquidity & Funding
Loans / Shares40.78%40.18%39.14%37.33%35.94%-484 bps
Liquid Assets / Assets18.23%19.22%17.40%18.40%19.06%+83 bps