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Stock Growers Bank

Napoleon, ND · Cert 15440

FDIC · 1 branch

Q2 2020

$67.6MAssets
$35.8MLoans
$60.2MDeposits
$7.3MEquity
Loan mix
75%RE $12.9M16%C&I $2.8M8%Consumer $1.4MQ2 2019Q2 2020
Deposit mix
79%Interest-bearing $47.6M21%Noninterest $12.5MQ2 2019Q2 2020

NIM

3.78%Q2 ’184.11%Q2 ’193.96%Q2 ’20+5%-6%

Non-interest income vs. expense

1.61%Q2 ’181.72%Q2 ’191.63%Q2 ’20+17%+0%

Executive Summary

  • Earnings: ROA of 1.75%, down 15 bps year over year; NIM at 3.32%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Capital: tier 1 leverage ratio of 9.63%, down 498 bps from a year ago.
  • Funding: loans stand at 59.46% of deposits as of Q2 2020.

Financial Results

Return on Assets (YTD, annualized)

1.75%-15 bps YoY

Net Interest Margin (YTD, annualized)

3.32%-20 bps YoY

Efficiency Ratio (YTD, annualized)

48.05%+135 bps YoY

Tier 1 Leverage Ratio

9.63%-498 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2019Q3 2019Q4 2019Q1 2020Q2 2020YoY ΔTrend
Earnings
Return on Assets1.90%1.99%1.63%1.68%1.75%-15 bps
Return on Equity13.34%13.62%11.76%16.61%16.86%+352 bps
Net Interest Margin3.52%3.60%3.29%3.17%3.32%-20 bps
Efficiency Ratio46.69%45.31%52.99%48.23%48.05%+135 bps
Non-Interest Burden1.55%1.50%1.68%1.48%1.56%+1 bps
Growth
Asset Growth (YoY)2.53%7.41%1.52%2.29%6.60%+407 bps
Loan Growth (YoY)4.98%5.75%1.58%5.42%3.61%-137 bps
Deposit Growth (YoY)-0.20%5.63%4.20%8.05%13.45%+1,365 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.04%+4 bps
Allowance / Loans0.96%0.98%1.01%0.98%0.91%-6 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio14.61%15.50%10.62%9.29%9.63%-498 bps
Total Risk-Based Capital22.35%22.35%14.92%9.29%9.63%-1,271 bps
Equity / Assets15.47%15.86%10.91%9.29%10.83%-465 bps
Liquidity & Funding
Loans / Deposits65.10%61.71%52.06%56.08%59.46%-564 bps
Liquid Assets / Assets1.55%1.51%1.39%1.47%1.46%-10 bps
CRE / Total Capitaln/an/an/an/an/an/an/a