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First State Bank, The

Granger, TX · Cert 15637

FDIC

Q1 2008

$80.2MAssets
$47.4MLoans
$66.1MDeposits
$9.4MEquity
Deposit mix
78%Interest-bearing $51.5M22%Noninterest $14.6MQ1 2007Q1 2008

NIM

6.35%Q1 ’066.69%Q1 ’076.23%Q1 ’08-3%-7%

Non-interest income vs. expense

3.53%Q1 ’063.45%Q1 ’073.56%Q1 ’08-27%+43%

Executive Summary

  • Earnings: ROA of 1.22%, down 109 bps year over year; NIM at 4.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 71.76% of deposits as of Q1 2008.

Financial Results

Return on Assets (quarter, annualized)

1.22%-109 bps YoY

Net Interest Margin (quarter, annualized)

4.01%-31 bps YoY

Efficiency Ratio (quarter, annualized)

75.71%+1,588 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets2.32%1.73%1.96%1.96%1.22%-109 bps
Return on Equity21.23%15.83%18.04%17.45%10.67%-1,056 bps
Net Interest Margin4.31%4.60%4.47%4.34%4.01%-31 bps
Efficiency Ratio59.84%68.60%63.51%62.55%75.71%+1,588 bps
Non-Interest Burden2.00%2.89%2.51%2.40%2.86%+86 bps
Growth
Asset Growth (YoY)6.12%7.21%2.21%2.03%5.99%-13 bps
Loan Growth (YoY)4.17%6.50%1.29%-1.08%1.73%-244 bps
Deposit Growth (YoY)6.81%8.09%1.85%4.02%2.22%-458 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.01%0.00%0.01%-0.01%-1 bps
Allowance / Loans2.03%2.00%2.03%2.02%1.99%-4 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 Capital19.18%18.40%18.44%18.75%18.62%-56 bps
Equity / Assets11.36%10.49%11.25%11.19%11.76%+40 bps
Liquidity & Funding
Loans / Deposits72.10%71.53%69.55%68.74%71.76%-35 bps
Liquid Assets / Assets0.21%0.44%0.14%0.12%0.36%+15 bps
CRE / Total Capitaln/an/an/an/an/an/an/a