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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

6.94%Q4 ’015.77%Q4 ’025.26%Q4 ’03-17%+16%

Non-interest income vs. expense

3.36%Q4 ’013.39%Q4 ’025.47%Q4 ’03+4%+77%

Executive Summary

  • Earnings: ROA of -2.01%, down 211 bps year over year; NIM at 3.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.30%.
  • Funding: loans stand at 59.77% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

-2.01%-211 bps YoY

Net Interest Margin (quarter, annualized)

3.35%+46 bps YoY

Efficiency Ratio (quarter, annualized)

143.15%+4,519 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets0.09%-0.97%-2.49%-2.32%-2.01%-211 bps
Return on Equity0.97%-9.89%-25.51%-25.51%-23.48%-2,444 bps
Net Interest Margin2.90%2.78%3.23%2.92%3.35%+46 bps
Efficiency Ratio97.96%110.08%132.45%149.26%143.15%+4,519 bps
Non-Interest Burden2.82%3.12%4.45%4.62%5.00%+218 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 / Loans0.22%0.88%0.61%2.25%1.30%+108 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