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Vermillion State Bank

Vermillion, KS · Cert 16404

FDIC

Q4 2008

$15.3MAssets
$5.6MLoans
$12.2MDeposits
$2.4MEquity
Deposit mix
89%Interest-bearing $10.9M11%Noninterest $1.3MQ4 2007Q4 2008

NIM

5.53%Q4 ’062.81%Q4 ’075.61%Q4 ’08-50%+93%

Non-interest income vs. expense

3.32%Q4 ’060.89%Q4 ’072.27%Q4 ’08-76%+167%

Executive Summary

  • Earnings: ROA of 1.52%, up 66 bps year over year; NIM at 3.42%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.54%.
  • Funding: loans stand at 45.91% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

1.52%+66 bps YoY

Net Interest Margin (YTD, annualized)

3.42%+165 bps YoY

Efficiency Ratio (YTD, annualized)

60.63%+1,445 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets0.87%1.48%1.74%1.58%1.52%+66 bps
Return on Equity4.23%7.89%10.09%9.59%9.37%+515 bps
Net Interest Margin1.77%3.54%3.46%3.44%3.42%+165 bps
Efficiency Ratio46.18%53.59%61.36%61.70%60.63%+1,445 bps
Non-Interest Burden0.73%1.75%1.97%1.99%1.94%+122 bps
Growth
Asset Growth (YoY)-1.01%-9.12%0.06%-1.09%-5.25%-423 bps
Loan Growth (YoY)-17.70%-23.81%-17.31%-4.39%-3.31%+1,439 bps
Deposit Growth (YoY)-5.40%-5.44%1.43%1.64%-1.96%+344 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.05%-0.08%0.74%0.69%0.54%+59 bps
Allowance / Loans2.11%2.43%1.77%1.65%1.80%-30 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 Capital41.39%25.05%23.68%23.77%25.49%-1,591 bps
Equity / Assets22.46%14.87%13.93%14.20%15.35%-711 bps
Liquidity & Funding
Loans / Deposits46.55%40.06%45.47%47.52%45.91%-64 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