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First State Bank of West Manchester, The

West Manchester, OH · Cert 15074

FDIC

Q4 2003

$15.1MAssets
$8.0MLoans
$13.4MDeposits
$1.3MEquity
Deposit mix
82%Interest-bearing $11.0M18%Noninterest $2.4MQ4 2002Q4 2003

NIM

7.15%Q4 ’015.89%Q4 ’025.49%Q4 ’03-20%+5%

Non-interest income vs. expense

3.28%Q4 ’013.41%Q4 ’024.94%Q4 ’03+4%+43%

Executive Summary

  • Earnings: ROA of -1.94%, down 132 bps year over year; NIM at 3.14%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.34%.
  • Funding: loans stand at 59.77% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

-1.94%-132 bps YoY

Net Interest Margin (YTD, annualized)

3.14%+16 bps YoY

Efficiency Ratio (YTD, annualized)

134.16%+3,096 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets-0.61%-0.97%-1.71%-1.91%-1.94%-132 bps
Return on Equity-5.92%-9.89%-17.55%-20.13%-20.85%-1,493 bps
Net Interest Margin2.97%2.78%2.94%2.97%3.14%+16 bps
Efficiency Ratio103.21%110.08%122.14%131.01%134.16%+3,096 bps
Non-Interest Burden3.08%3.12%3.71%4.06%4.39%+131 bps
Growth
Asset Growth (YoY)4.41%-1.14%-6.79%-5.28%-10.74%-1,515 bps
Loan Growth (YoY)-3.40%-6.01%-8.79%-1.64%-11.01%-761 bps
Deposit Growth (YoY)6.91%6.33%-0.83%1.68%-4.48%-1,139 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.80%0.88%0.75%1.24%1.34%+54 bps
Allowance / Loans1.21%1.44%1.82%1.58%1.59%+37 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 Capital22.51%21.47%20.33%19.42%19.76%-276 bps
Equity / Assets9.72%9.99%9.55%8.61%8.52%-120 bps
Liquidity & Funding
Loans / Deposits64.15%62.65%61.28%62.05%59.77%-438 bps
Liquid Assets / Assets5.04%5.31%5.28%5.24%4.91%-13 bps
CRE / Total Capitaln/an/an/an/an/an/an/a