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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

5.42%Q3 ’095.03%Q3 ’104.95%Q3 ’11-1%+0%

Non-interest income vs. expense

3.34%Q3 ’094.32%Q3 ’103.71%Q3 ’11+10%+0%

Executive Summary

  • Earnings: ROA of 1.14%, down 22 bps year over year; NIM at 3.80%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.25%.
  • Funding: loans stand at 76.99% of deposits as of Q3 2011.

Financial Results

Return on Assets (quarter, annualized)

1.14%-22 bps YoY

Net Interest Margin (quarter, annualized)

3.80%+2 bps YoY

Efficiency Ratio (quarter, annualized)

74.38%-293 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets1.37%0.78%1.09%1.14%1.14%-22 bps
Return on Equity14.05%8.03%11.57%11.66%11.40%-265 bps
Net Interest Margin3.79%3.73%3.74%3.62%3.80%+2 bps
Efficiency Ratio77.30%78.04%76.79%79.28%74.38%-293 bps
Non-Interest Burden2.52%2.57%2.51%2.67%2.52%+1 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 / Loans-0.04%1.55%-0.68%-0.50%-0.25%-21 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