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Farmers and Merchants Bank

Hale, MO · Cert 1651

FDIC

Q4 2007

$17.5MAssets
$12.6MLoans
$15.3MDeposits
$1.5MEquity
Deposit mix
82%Interest-bearing $12.6M18%Noninterest $2.8MQ4 2006Q4 2007

NIM

6.16%Q4 ’056.88%Q4 ’067.38%Q4 ’07+2%+5%

Non-interest income vs. expense

3.83%Q4 ’053.96%Q4 ’064.14%Q4 ’07+3%+9%

Executive Summary

  • Earnings: ROA of 0.10%, down 50 bps year over year; NIM at 4.20%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.47%.
  • Funding: loans stand at 81.85% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

0.10%-50 bps YoY

Net Interest Margin (YTD, annualized)

4.20%+21 bps YoY

Efficiency Ratio (YTD, annualized)

83.29%+189 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.60%-0.29%-0.19%0.08%0.10%-50 bps
Return on Equity6.59%-3.21%-2.15%0.89%1.13%-546 bps
Net Interest Margin3.99%3.79%4.42%4.17%4.20%+21 bps
Efficiency Ratio81.41%84.49%75.92%78.75%83.29%+189 bps
Non-Interest Burden3.08%3.09%3.15%3.11%3.37%+28 bps
Growth
Asset Growth (YoY)4.05%0.81%2.95%5.14%4.04%-2 bps
Loan Growth (YoY)6.39%5.18%0.99%3.55%3.13%-326 bps
Deposit Growth (YoY)4.21%0.62%4.88%7.68%4.26%+5 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%2.33%3.02%1.95%1.47%+116 bps
Allowance / Loans1.63%1.39%1.05%1.05%1.08%-55 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 Capital12.64%13.86%13.51%13.59%13.67%+103 bps
Equity / Assets8.91%9.01%8.82%9.15%8.84%-7 bps
Liquidity & Funding
Loans / Deposits82.74%84.31%85.57%87.55%81.85%-90 bps
Liquid Assets / Assets0.41%0.36%0.44%0.53%1.36%+95 bps
CRE / Total Capitaln/an/an/an/an/an/an/a