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Letter portraitLegal landscapeQuarterYTD

1st American State Bank of Minnesota

Hancock, MN · Cert 15448

FDIC

Q4 2009

$18.2MAssets
$10.8MLoans
$16.3MDeposits
$292KEquity
Deposit mix
85%Interest-bearing $14.0M15%Noninterest $2.4MQ4 2008Q4 2009

NIM

7.45%Q4 ’076.02%Q4 ’084.30%Q4 ’09-29%-12%

Non-interest income vs. expense

2.94%Q4 ’073.68%Q4 ’083.83%Q4 ’09+21%+30%

Executive Summary

  • Earnings: ROA of -6.88%, down 329 bps year over year; NIM at 2.38%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 17.29%.
  • Funding: loans stand at 66.27% of deposits as of Q4 2009.

Financial Results

Return on Assets (YTD, annualized)

-6.88%-329 bps YoY

Net Interest Margin (YTD, annualized)

2.38%-33 bps YoY

Efficiency Ratio (YTD, annualized)

167.22%+5,850 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-3.60%-5.20%-9.20%-7.99%-6.88%-329 bps
Return on Equity-45.30%-80.72%-166.29%-163.95%-159.37%-11,406 bps
Net Interest Margin2.71%1.80%2.00%2.26%2.38%-33 bps
Efficiency Ratio108.72%110.81%117.41%174.49%167.22%+5,850 bps
Non-Interest Burden3.01%2.06%2.48%3.76%3.92%+91 bps
Growth
Asset Growth (YoY)-21.66%-22.13%-29.46%-29.58%-30.58%-892 bps
Loan Growth (YoY)-38.11%-39.16%-42.16%-36.91%-35.16%+295 bps
Deposit Growth (YoY)-22.72%-20.33%-27.05%-25.71%-28.41%-569 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans5.68%4.97%19.20%21.36%17.29%+1,161 bps
Allowance / Loans8.19%10.62%9.70%7.17%7.63%-56 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 Capital11.31%10.26%6.11%4.69%3.80%-751 bps
Equity / Assets6.74%6.11%3.33%2.36%1.61%-513 bps
Liquidity & Funding
Loans / Deposits73.17%74.83%71.88%68.78%66.27%-690 bps
Liquid Assets / Assets19.81%19.83%13.81%16.97%16.99%-282 bps
CRE / Total Capitaln/an/an/an/an/an/an/a