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Hedrick Savings Bank

Ottumwa, IA · Cert 14973

FDIC

Q3 2011

$66.3MAssets
$40.4MLoans
$52.4MDeposits
$6.6MEquity
Loan mix
69%RE $21.3M26%C&I $7.8M5%Consumer $1.6MQ3 2010Q3 2011
Deposit mix
84%Interest-bearing $44.3M16%Noninterest $8.2MQ3 2010Q3 2011

NIM

5.43%Q3 ’094.98%Q3 ’104.85%Q3 ’11+1%+2%

Non-interest income vs. expense

3.44%Q3 ’093.84%Q3 ’103.79%Q3 ’11-1%+3%

Executive Summary

  • Earnings: ROA of 1.12%, up 19 bps year over year; NIM at 3.70%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.46%.
  • Funding: loans stand at 76.99% of deposits as of Q3 2011.

Financial Results

Return on Assets (YTD, annualized)

1.12%+19 bps YoY

Net Interest Margin (YTD, annualized)

3.70%+6 bps YoY

Efficiency Ratio (YTD, annualized)

76.77%+3 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets0.93%0.89%1.09%1.12%1.12%+19 bps
Return on Equity10.06%9.63%11.57%11.62%11.55%+148 bps
Net Interest Margin3.64%3.58%3.74%3.60%3.70%+6 bps
Efficiency Ratio76.74%77.08%76.79%77.98%76.77%+3 bps
Non-Interest Burden2.48%2.44%2.51%2.53%2.56%+8 bps
Growth
Asset Growth (YoY)-2.19%-4.01%-1.47%0.57%7.15%+934 bps
Loan Growth (YoY)5.06%2.11%3.15%-0.78%-0.85%-591 bps
Deposit Growth (YoY)-3.66%-7.22%-2.44%-0.09%10.35%+1,401 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.19%0.54%-0.68%-0.60%-0.46%-65 bps
Allowance / Loans2.57%2.47%2.65%2.85%2.78%+21 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 Capital14.37%14.49%14.67%15.52%15.10%+73 bps
Equity / Assets10.02%9.31%9.45%10.08%10.00%-2 bps
Liquidity & Funding
Loans / Deposits85.69%80.62%76.65%77.17%76.99%-870 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a