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Letter portraitLegal landscapeQuarterYTD

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 $4.2MQ3 2004Q2 2006

Executive Summary

  • Earnings: ROA of 2.25%, up 15 bps year over year; NIM at 4.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 62.09% of deposits as of Q2 2006.

Return on Assets (YTD, annualized)

2.25%+15 bps YoY

Net Interest Margin (YTD, annualized)

4.47%+2 bps YoY

Efficiency Ratio (YTD, annualized)

57.57%+200 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

4.79%Q2 ’045.28%Q2 ’055.81%Q2 ’06+15%+1%

Non-interest income vs. expense

3.05%Q2 ’042.93%Q2 ’053.11%Q2 ’06+3%+3%

Year to date, annualized, through each quarter.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets1.17%1.22%1.87%2.10%2.22%2.26%2.03%2.25%+15 bps
Return on Equity12.21%12.60%19.19%21.55%22.45%22.46%20.20%22.97%+142 bps
Net Interest Margin3.86%3.78%4.34%4.45%4.25%4.46%4.38%4.47%+2 bps
Efficiency Ratio63.69%62.29%57.09%55.57%54.80%54.67%61.22%57.57%+200 bps
Non-Interest Burden2.12%2.03%2.11%2.11%1.98%2.07%2.29%2.18%+7 bps
Growth
Asset Growth (YoY)-3.40%-0.91%-5.78%-0.57%-0.42%-2.47%1.66%-3.60%-302 bps
Loan Growth (YoY)-4.60%-4.50%-4.85%4.76%16.99%14.22%4.15%-3.80%-856 bps
Deposit Growth (YoY)-3.45%-0.45%-5.34%-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%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.17%0.18%0.00%0.00%0.00%0.01%0.03%0.02%+2 bps
Allowance / Loans1.21%1.14%1.09%1.04%0.98%1.03%1.08%1.13%+9 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital13.72%13.92%12.97%13.91%14.44%15.58%13.18%14.14%+23 bps
Equity / Assets9.77%9.86%9.67%9.73%10.30%10.73%9.31%9.34%-39 bps
Liquidity & Funding
Loans / Deposits57.15%56.88%63.80%62.41%67.37%67.21%65.13%62.09%-31 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a