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Security State Bank

Guttenberg, IA · Cert 15914

FDIC

Q2 2011

$91.0MAssets
$46.5MLoans
$76.0MDeposits
$12.4MEquity
Loan mix
70%RE $22.1M19%C&I $6.0M11%Consumer $3.4MQ2 2010Q2 2011
Deposit mix
89%Interest-bearing $67.6M11%Noninterest $8.4MQ2 2010Q2 2011

NIM

4.51%Q2 ’094.43%Q2 ’104.35%Q2 ’11+12%+4%

Non-interest income vs. expense

1.95%Q2 ’091.60%Q2 ’101.68%Q2 ’11-20%-1%

Executive Summary

  • Earnings: ROA of 1.57%, up 37 bps year over year; NIM at 3.14%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 61.13% of deposits as of Q2 2011.

Financial Results

Return on Assets (quarter, annualized)

1.57%+37 bps YoY

Net Interest Margin (quarter, annualized)

3.14%+12 bps YoY

Efficiency Ratio (quarter, annualized)

48.85%-72 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2010Q3 2010Q4 2010Q1 2011Q2 2011YoY ΔTrend
Earnings
Return on Assets1.20%1.62%1.58%1.40%1.57%+37 bps
Return on Equity8.55%11.62%11.85%10.90%11.78%+323 bps
Net Interest Margin3.01%3.24%3.14%3.01%3.14%+12 bps
Efficiency Ratio49.58%48.84%44.25%49.39%48.85%-72 bps
Non-Interest Burden1.38%1.45%1.17%1.36%1.37%-1 bps
Growth
Asset Growth (YoY)1.76%3.56%4.62%2.85%3.94%+218 bps
Loan Growth (YoY)5.85%5.90%-0.67%0.38%-0.83%-668 bps
Deposit Growth (YoY)1.66%3.90%7.13%6.09%5.43%+377 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%0.12%1.59%0.15%-0.01%-11 bps
Allowance / Loans1.40%1.34%1.22%1.22%1.29%-11 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 Capital15.37%14.69%14.64%14.48%15.04%-33 bps
Equity / Assets13.98%13.92%12.72%13.00%13.58%-40 bps
Liquidity & Funding
Loans / Deposits64.99%69.57%60.58%62.14%61.13%-386 bps
Liquid Assets / Assets1.68%2.84%2.74%2.45%3.22%+154 bps
CRE / Total Capitaln/an/an/an/an/an/an/a