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Citizens State Bank of Waterville

Waterville, MN · Cert 15918

FDIC

Q2 2006

$22.4MAssets
$12.5MLoans
$20.2MDeposits
$2.1MEquity
Deposit mix
79%Interest-bearing $16.0M21%Noninterest $4.2MQ2 2005Q2 2006

NIM

4.87%Q2 ’045.41%Q2 ’056.05%Q2 ’06+14%+3%

Non-interest income vs. expense

3.13%Q2 ’042.87%Q2 ’052.99%Q2 ’06+0%+1%

Executive Summary

  • Earnings: ROA of 2.50%, up 12 bps year over year; NIM at 4.64%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 62.09% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

2.50%+12 bps YoY

Net Interest Margin (quarter, annualized)

4.64%+12 bps YoY

Efficiency Ratio (quarter, annualized)

54.07%-1 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets2.38%2.44%2.37%2.03%2.50%+12 bps
Return on Equity24.56%24.34%22.53%20.20%26.79%+223 bps
Net Interest Margin4.52%4.37%4.68%4.38%4.64%+12 bps
Efficiency Ratio54.08%53.31%54.29%61.22%54.07%-1 bps
Non-Interest Burden2.08%1.96%2.15%2.29%2.11%+3 bps
Growth
Asset Growth (YoY)-0.57%-0.42%-2.47%1.66%-3.60%-302 bps
Loan Growth (YoY)4.76%16.99%14.22%4.15%-3.80%-856 bps
Deposit Growth (YoY)-1.03%-0.75%-3.33%2.02%-3.32%-229 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.06%0.03%0.00%0 bps
Allowance / Loans1.04%0.98%1.03%1.08%1.13%+9 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 Capital13.91%14.44%15.58%13.18%14.14%+23 bps
Equity / Assets9.73%10.30%10.73%9.31%9.34%-39 bps
Liquidity & Funding
Loans / Deposits62.41%67.37%67.21%65.13%62.09%-31 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a