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Letter portraitLegal landscapeQuarterYTD

State Bank of Lucan

Lucan, MN · Cert 15890

FDIC

Q3 2011

$41.1MAssets
$20.2MLoans
$36.1MDeposits
$4.4MEquity
Loan mix
74%RE $8.0M19%C&I $2.1M7%Consumer $0.8MQ3 2010Q3 2011
Deposit mix
83%Interest-bearing $29.9M17%Noninterest $6.2MQ3 2010Q3 2011

NIM

5.01%Q3 ’094.34%Q3 ’104.01%Q3 ’11-8%+2%

Non-interest income vs. expense

2.84%Q3 ’092.54%Q3 ’102.46%Q3 ’11-10%+3%

Executive Summary

  • Earnings: ROA of 0.85%, down 1 bps year over year; NIM at 3.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.02%.
  • Funding: loans stand at 56.00% of deposits as of Q3 2011.

Financial Results

Return on Assets (YTD, annualized)

0.85%-1 bps YoY

Net Interest Margin (YTD, annualized)

3.09%+6 bps YoY

Efficiency Ratio (YTD, annualized)

74.62%-63 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets0.86%0.81%0.64%0.78%0.85%-1 bps
Return on Equity7.74%7.32%5.95%7.24%7.87%+13 bps
Net Interest Margin3.03%3.06%3.06%3.13%3.09%+6 bps
Efficiency Ratio75.26%76.85%80.88%77.12%74.62%-63 bps
Non-Interest Burden2.19%2.28%2.44%2.37%2.25%+6 bps
Growth
Asset Growth (YoY)10.63%5.85%2.75%8.10%8.35%-228 bps
Loan Growth (YoY)4.40%0.23%0.12%1.98%-0.98%-538 bps
Deposit Growth (YoY)12.00%6.72%3.31%8.92%9.09%-291 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.15%0.15%-0.02%-0.01%-0.02%-17 bps
Allowance / Loans1.25%1.13%1.21%1.23%1.24%-1 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 Capital16.85%16.75%17.30%17.63%17.70%+85 bps
Equity / Assets11.11%10.89%10.55%10.89%10.80%-32 bps
Liquidity & Funding
Loans / Deposits61.70%66.21%59.38%58.20%56.00%-569 bps
Liquid Assets / Assets7.44%8.14%7.30%6.67%4.82%-262 bps
CRE / Total Capitaln/an/an/an/an/an/an/a