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State Bank of Viroqua, The

Viroqua, WI · Cert 15403

FDIC

Q4 2008

$76.3MAssets
$63.4MLoans
$68.0MDeposits
$7.0MEquity
Loan mix
64%RE $29.9M35%C&I $16.4M2%Consumer $0.7MQ4 2007Q4 2008
Deposit mix
89%Interest-bearing $60.2M11%Noninterest $7.8MQ4 2007Q4 2008

NIM

6.55%Q4 ’066.54%Q4 ’076.09%Q4 ’08-10%+5%

Non-interest income vs. expense

2.30%Q4 ’062.27%Q4 ’072.47%Q4 ’08-5%+10%

Executive Summary

  • Earnings: ROA of 1.02%, down 18 bps year over year; NIM at 3.61%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.38%.
  • Funding: loans stand at 93.20% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

1.02%-18 bps YoY

Net Interest Margin (YTD, annualized)

3.61%+17 bps YoY

Efficiency Ratio (YTD, annualized)

58.95%+207 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.20%1.14%1.15%1.09%1.02%-18 bps
Return on Equity13.09%12.59%12.63%11.94%11.14%-195 bps
Net Interest Margin3.45%3.55%3.58%3.59%3.61%+17 bps
Efficiency Ratio56.88%56.94%56.12%58.02%58.95%+207 bps
Non-Interest Burden1.73%1.74%1.72%1.82%1.90%+17 bps
Growth
Asset Growth (YoY)7.30%5.67%1.55%-4.87%-8.02%-1,532 bps
Loan Growth (YoY)4.32%4.37%1.11%1.79%-0.94%-526 bps
Deposit Growth (YoY)7.76%4.06%2.52%-4.88%-8.14%-1,591 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.28%1.18%0.63%0.47%0.38%+10 bps
Allowance / Loans1.19%0.92%0.99%0.98%1.09%-10 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 Capital12.52%11.89%12.01%11.60%12.21%-31 bps
Equity / Assets9.02%9.13%9.12%9.08%9.24%+22 bps
Liquidity & Funding
Loans / Deposits86.43%92.07%90.08%95.14%93.20%+677 bps
Liquid Assets / Assets0.00%0.07%0.06%0.05%0.04%+3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a