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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

3.88%Q3 ’113.78%Q3 ’123.78%Q3 ’13+2%+4%

Non-interest income vs. expense

2.93%Q3 ’113.27%Q3 ’124.43%Q3 ’13+22%+46%

Executive Summary

  • Earnings: ROA of -1.52%, down 199 bps year over year; NIM at 3.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.59%.
  • Funding: loans stand at 72.63% of deposits as of Q3 2013.

Financial Results

Return on Assets (quarter, annualized)

-1.52%-199 bps YoY

Net Interest Margin (quarter, annualized)

3.35%+12 bps YoY

Efficiency Ratio (quarter, annualized)

104.63%+2,435 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2012Q4 2012Q1 2013Q2 2013Q3 2013YoY ΔTrend
Earnings
Return on Assets0.48%-0.06%0.18%0.20%-1.52%-199 bps
Return on Equity4.00%-0.48%1.57%1.71%-13.01%-1,701 bps
Net Interest Margin3.23%3.11%2.92%3.21%3.35%+12 bps
Efficiency Ratio80.28%101.19%93.65%91.94%104.63%+2,435 bps
Non-Interest Burden2.43%3.16%2.68%2.88%3.55%+112 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 / Loans0.00%0.10%0.57%-0.19%0.59%+59 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