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Bank of Verona

Verona, WI · Cert 15134

FDIC

Q3 2006

$115.1MAssets
$71.9MLoans
$87.4MDeposits
$13.4MEquity
Loan mix
82%RE $31.5M16%C&I $6.1M2%Consumer $0.8MQ3 2005Q3 2006
Deposit mix
86%Interest-bearing $74.9M14%Noninterest $12.5MQ3 2005Q3 2006

NIM

4.38%Q3 ’044.67%Q3 ’055.17%Q3 ’06-4%-9%

Non-interest income vs. expense

3.28%Q3 ’043.05%Q3 ’053.01%Q3 ’06-11%+2%

Executive Summary

  • Earnings: ROA of 0.49%, down 24 bps year over year; NIM at 3.00%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.37%.
  • Funding: loans stand at 82.23% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

0.49%-24 bps YoY

Net Interest Margin (YTD, annualized)

3.00%-28 bps YoY

Efficiency Ratio (YTD, annualized)

82.02%+628 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets0.72%0.69%0.38%0.42%0.49%-24 bps
Return on Equity6.28%6.03%3.32%3.69%4.24%-204 bps
Net Interest Margin3.29%3.26%3.04%2.97%3.00%-28 bps
Efficiency Ratio75.74%74.69%86.29%84.62%82.02%+628 bps
Non-Interest Burden2.31%2.26%2.54%2.41%2.34%+4 bps
Growth
Asset Growth (YoY)7.55%-0.74%1.87%5.58%0.24%-731 bps
Loan Growth (YoY)-2.24%-0.65%1.04%6.39%0.61%+285 bps
Deposit Growth (YoY)4.53%-2.38%-1.11%5.59%-0.57%-510 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.24%-0.02%1.19%0.54%0.37%+60 bps
Allowance / Loans0.88%0.99%0.72%0.75%0.84%-4 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 Capital17.96%17.60%17.31%16.67%18.23%+27 bps
Equity / Assets11.51%11.48%11.52%11.25%11.66%+15 bps
Liquidity & Funding
Loans / Deposits81.26%84.49%89.02%87.25%82.23%+96 bps
Liquid Assets / Assets0.71%0.97%0.71%0.69%0.25%-46 bps
CRE / Total Capitaln/an/an/an/an/an/an/a