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Hurley State Bank

Sioux Falls, SD · Cert 16100

FDIC

Q3 2006

$7.4BAssets
$6.6BLoans
$1.6BDeposits
$809.5MEquity
Loan mix
0%RE $0.0B86%C&I $5.6B14%Consumer $0.9BQ3 2005Q3 2006
Deposit mix
67%Interest-bearing $1.1B33%Noninterest $0.5BQ3 2005Q3 2006

NIM

7.63%Q3 ’048.36%Q3 ’057.92%Q3 ’06+2%-28%

Non-interest income vs. expense

12.68%Q3 ’0412.12%Q3 ’0511.65%Q3 ’06+15%-15%

Executive Summary

  • Earnings: ROA of 4.08%, down 90 bps year over year; NIM at 4.88%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.07%.
  • Funding: loans stand at 410.30% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

4.08%-90 bps YoY

Net Interest Margin (YTD, annualized)

4.88%-186 bps YoY

Efficiency Ratio (YTD, annualized)

57.49%+264 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets4.98%3.98%3.75%3.87%4.08%-90 bps
Return on Equity26.39%23.27%33.26%33.62%35.84%+945 bps
Net Interest Margin6.74%5.26%5.19%4.70%4.88%-186 bps
Efficiency Ratio54.85%57.17%58.44%58.69%57.49%+264 bps
Non-Interest Burden-2.77%-2.23%-2.68%-3.03%-3.18%-42 bps
Growth
Asset Growth (YoY)21.61%19.85%17.60%16.35%6.18%-1,543 bps
Loan Growth (YoY)17.72%19.59%20.32%21.57%11.28%-644 bps
Deposit Growth (YoY)-3.11%-15.44%35.25%41.85%17.62%+2,073 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.11%2.27%2.29%2.12%2.07%-3 bps
Allowance / Loans1.76%1.74%1.66%1.57%1.52%-25 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 Capital13.87%12.48%13.20%13.59%12.75%-112 bps
Equity / Assets12.26%10.73%11.83%11.99%10.98%-128 bps
Liquidity & Funding
Loans / Deposits434%465%356%393%410%-2,337 bps
Liquid Assets / Assets0.01%0.02%0.05%0.04%0.04%+3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a