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Letter portraitLegal landscapeQuarterYTD

Citizens State Bank of Cortez, The

Cortez, CO · Cert 15642

FDIC

Q3 2013

$76.6MAssets
$47.6MLoans
$65.6MDeposits
$8.9MEquity
Loan mix
85%RE $34.0M11%C&I $4.4M4%Consumer $1.7MQ3 2012Q3 2013
Deposit mix
62%Interest-bearing $40.5M38%Noninterest $25.1MQ3 2012Q3 2013

NIM

3.92%Q3 ’113.64%Q3 ’123.61%Q3 ’13-4%+4%

Non-interest income vs. expense

3.17%Q3 ’113.40%Q3 ’123.90%Q3 ’13+14%+18%

Executive Summary

  • Earnings: ROA of -0.37%, down 68 bps year over year; NIM at 3.17%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.32%.
  • Funding: loans stand at 72.63% of deposits as of Q3 2013.

Financial Results

Return on Assets (YTD, annualized)

-0.37%-68 bps YoY

Net Interest Margin (YTD, annualized)

3.17%+12 bps YoY

Efficiency Ratio (YTD, annualized)

96.92%+926 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2012Q4 2012Q1 2013Q2 2013Q3 2013YoY ΔTrend
Earnings
Return on Assets0.31%0.22%0.18%0.19%-0.37%-68 bps
Return on Equity2.62%1.84%1.57%1.64%-3.20%-582 bps
Net Interest Margin3.05%3.07%2.92%3.06%3.17%+12 bps
Efficiency Ratio87.66%91.09%93.65%92.75%96.92%+926 bps
Non-Interest Burden2.58%2.72%2.68%2.78%3.05%+47 bps
Growth
Asset Growth (YoY)-5.04%-0.50%3.53%0.89%0.94%+598 bps
Loan Growth (YoY)-11.58%-6.31%3.48%2.31%4.46%+1,605 bps
Deposit Growth (YoY)-3.11%0.64%2.51%1.23%1.19%+430 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.55%0.44%0.57%0.19%0.32%-23 bps
Allowance / Loans2.30%2.30%2.03%2.08%1.98%-32 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 Capital20.52%20.50%19.25%19.43%19.05%-147 bps
Equity / Assets12.04%12.05%11.38%11.66%11.63%-41 bps
Liquidity & Funding
Loans / Deposits70.35%69.50%70.60%72.50%72.63%+228 bps
Liquid Assets / Assets18.46%18.44%17.48%18.61%18.53%+7 bps
CRE / Total Capitaln/an/an/an/an/an/an/a