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Laurens State Bank

Laurens, IA · Cert 15320

FDIC · 3 branches

Q2 2021

$88.1MAssets
$24.8MLoans
$79.1MDeposits
$7.9MEquity
Loan mix
79%RE $14.3M15%C&I $2.8M6%Consumer $1.1MQ3 2019Q2 2021
Deposit mix
75%Interest-bearing $59.0M25%Noninterest $20.1MQ3 2019Q2 2021

Executive Summary

  • Earnings: ROA of -0.10%, down 123 bps year over year; NIM at 2.17%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 9.05%, down 262 bps from a year ago.
  • Funding: loans stand at 31.41% of deposits as of Q2 2021.

Return on Assets (YTD, annualized)

-0.10%-123 bps YoY

Net Interest Margin (YTD, annualized)

2.17%-51 bps YoY

Efficiency Ratio (YTD, annualized)

106.27%+4,525 bps YoY

Tier 1 Leverage Ratio

9.05%-262 bps YoY

NIM

3.46%Q2 ’193.12%Q2 ’202.35%Q2 ’21-10%-19%

Non-interest income vs. expense

1.97%Q2 ’191.80%Q2 ’202.52%Q2 ’21-7%+51%

Year to date, annualized, through each quarter.

MetricQ3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021Q2 2021YoY ΔTrend
Earnings
Return on Assets1.21%1.35%1.22%1.13%1.04%0.92%1.39%-0.10%-123 bps
Return on Equity10.38%11.57%10.11%9.40%8.74%7.83%13.54%-1.06%-1,046 bps
Net Interest Margin2.98%2.82%2.71%2.69%2.53%2.33%2.69%2.17%-51 bps
Efficiency Ratio60.84%59.95%58.98%61.02%62.16%65.11%53.30%106.27%+4,525 bps
Non-Interest Burden1.69%1.55%1.47%1.54%1.48%1.43%1.34%2.32%+79 bps
Growth
Asset Growth (YoY)1.91%1.37%2.11%5.75%9.32%9.72%22.94%22.36%+1,661 bps
Loan Growth (YoY)-7.72%-7.73%-5.70%-3.05%-2.98%-2.61%-7.65%-9.37%-632 bps
Deposit Growth (YoY)0.14%0.24%1.19%5.81%10.09%10.93%27.08%26.24%+2,043 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.02%0.07%0.04%0.02%0.01%-0.02%-0.01%-4 bps
Allowance / Loans1.24%1.24%1.27%1.25%1.26%1.26%1.39%1.38%+14 bps
Allowance Coverage of NPLs349.0xn/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio12.21%12.00%11.92%11.66%11.54%11.01%10.35%9.05%-262 bps
Total Risk-Based Capital25.67%25.94%11.92%11.66%11.54%11.01%10.35%9.05%-262 bps
Equity / Assets12.13%11.94%12.21%11.91%11.57%11.04%9.54%9.01%-290 bps
Liquidity & Funding
Loans / Deposits47.58%44.52%44.14%43.76%41.93%39.08%32.08%31.41%-1,234 bps
Liquid Assets / Assets15.59%19.78%21.53%39.46%32.53%30.36%33.01%31.62%-784 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a