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First State Bank

Tabor, IA · Cert 14893

FDIC

Q2 2009

$26.1MAssets
$12.3MLoans
$23.6MDeposits
$2.3MEquity
Deposit mix
80%Interest-bearing $18.9M20%Noninterest $4.7MQ2 2008Q2 2009

NIM

5.86%Q2 ’075.43%Q2 ’084.61%Q2 ’09-5%-8%

Non-interest income vs. expense

2.63%Q2 ’072.57%Q2 ’082.92%Q2 ’09-4%-3%

Executive Summary

  • Earnings: ROA of 0.67%, up 55 bps year over year; NIM at 3.21%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
  • Funding: loans stand at 52.16% of deposits as of Q2 2009.

Financial Results

Return on Assets (YTD, annualized)

0.67%+55 bps YoY

Net Interest Margin (YTD, annualized)

3.21%-29 bps YoY

Efficiency Ratio (YTD, annualized)

73.02%+664 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2008Q3 2008Q4 2008Q1 2009Q2 2009YoY ΔTrend
Earnings
Return on Assets0.13%0.50%0.60%0.66%0.67%+55 bps
Return on Equity1.34%5.33%6.39%7.18%7.35%+601 bps
Net Interest Margin3.50%3.51%3.64%3.45%3.21%-29 bps
Efficiency Ratio66.38%66.01%68.12%75.12%73.02%+664 bps
Non-Interest Burden2.20%2.19%2.36%2.51%2.14%-7 bps
Growth
Asset Growth (YoY)0.45%-3.68%8.99%5.66%7.47%+702 bps
Loan Growth (YoY)-9.94%-13.53%-7.17%-8.93%-6.20%+374 bps
Deposit Growth (YoY)0.33%-4.27%9.97%6.24%7.53%+720 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.35%1.56%1.13%-0.03%-0.03%-238 bps
Allowance / Loans1.46%1.47%1.39%1.56%1.56%+10 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 Capital16.57%17.21%16.31%17.66%18.02%+146 bps
Equity / Assets9.00%9.66%9.38%9.10%8.96%-3 bps
Liquidity & Funding
Loans / Deposits59.80%61.23%61.12%52.53%52.16%-764 bps
Liquid Assets / Assets4.53%5.02%3.59%3.25%9.70%+517 bps
CRE / Total Capitaln/an/an/an/an/an/an/a