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Argyle State Bank

Argyle, MN · Cert 15392

FDIC

Q2 2006

$20.5MAssets
$15.3MLoans
$16.8MDeposits
$2.1MEquity
Loan mix
30%RE $2.2M70%C&I $5.1M0%Consumer $0.0MQ2 2005Q2 2006
Deposit mix
78%Interest-bearing $13.0M22%Noninterest $3.8MQ2 2005Q2 2006

NIM

-1.02%Q2 ’044.99%Q2 ’056.22%Q2 ’06+633%+6%

Non-interest income vs. expense

-1.37%Q2 ’043.35%Q2 ’052.87%Q2 ’06+313%-21%

Executive Summary

  • Earnings: ROA of 1.82%, up 120 bps year over year; NIM at 4.24%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.10%.
  • Funding: loans stand at 91.01% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

1.82%+120 bps YoY

Net Interest Margin (quarter, annualized)

4.24%+26 bps YoY

Efficiency Ratio (quarter, annualized)

58.23%-1,677 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets0.62%1.28%0.67%1.26%1.82%+120 bps
Return on Equity5.68%11.70%6.73%12.79%17.51%+1,183 bps
Net Interest Margin3.98%4.13%3.89%4.13%4.24%+26 bps
Efficiency Ratio75.00%62.34%74.24%67.67%58.23%-1,677 bps
Non-Interest Burden2.87%2.31%2.85%2.65%2.25%-61 bps
Growth
Asset Growth (YoY)14.27%9.49%14.81%8.05%6.64%-762 bps
Loan Growth (YoY)20.62%9.34%9.42%20.47%14.88%-574 bps
Deposit Growth (YoY)12.78%11.41%15.89%8.78%11.01%-176 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%-0.03%1.28%-0.12%-0.10%-10 bps
Allowance / Loans1.98%2.13%2.18%1.98%1.87%-11 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 Capital14.92%15.03%15.54%14.04%13.82%-110 bps
Equity / Assets10.95%10.88%9.29%10.52%10.30%-65 bps
Liquidity & Funding
Loans / Deposits87.95%87.79%59.06%84.50%91.01%+306 bps
Liquid Assets / Assets2.02%1.92%1.20%1.24%1.18%-84 bps
CRE / Total Capitaln/an/an/an/an/an/an/a