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Valley Bank of Belgrade

Belgrade, MT · Cert 15276

FDIC

Q4 2002

$56.6MAssets
$34.6MLoans
$47.7MDeposits
$8.1MEquity
Loan mix
50%RE $8.6M49%C&I $8.5M1%Consumer $0.1MQ4 2001Q4 2002
Deposit mix
79%Interest-bearing $37.9M21%Noninterest $9.8MQ4 2001Q4 2002

NIM

7.72%Q1 ’016.80%Q4 ’016.30%Q4 ’02-8%+4%

Non-interest income vs. expense

5.64%Q1 ’014.45%Q4 ’013.45%Q4 ’02-32%-15%

Executive Summary

  • Earnings: ROA of 1.00%, up 24 bps year over year; NIM at 4.90%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.91%.
  • Funding: loans stand at 72.61% of deposits as of Q4 2002.

Financial Results

Return on Assets (YTD, annualized)

1.00%+24 bps YoY

Net Interest Margin (YTD, annualized)

4.90%+17 bps YoY

Efficiency Ratio (YTD, annualized)

60.99%-1,317 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets0.77%1.16%1.23%1.04%1.00%+24 bps
Return on Equityn/a7.44%8.03%6.94%6.76%n/a
Net Interest Margin4.73%5.11%4.99%4.82%4.90%+17 bps
Efficiency Ratio74.16%60.72%57.61%61.52%60.99%-1,317 bps
Non-Interest Burden3.18%2.75%2.53%2.67%2.69%-49 bps
Growth
Asset Growth (YoY)20.56%22.82%22.03%23.26%17.24%-332 bps
Loan Growth (YoY)31.48%25.69%17.76%3.08%0.84%-3,064 bps
Deposit Growth (YoY)24.39%27.02%33.27%29.80%20.66%-373 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%2.44%1.15%0.97%0.91%+81 bps
Allowance / Loans1.50%1.13%1.37%1.59%1.74%+24 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 Capital13.64%13.91%13.95%14.32%14.42%+78 bps
Equity / Assets15.58%15.59%14.89%14.13%14.33%-125 bps
Liquidity & Funding
Loans / Deposits86.87%81.98%80.21%72.60%72.61%-1,427 bps
Liquid Assets / Assets0.03%0.05%0.26%0.14%0.03%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a