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Farmers & Merchants State Bank of Krum

Krum, TX · Cert 16674

FDIC

Q4 2004

$155.3MAssets
$115.7MLoans
$142.2MDeposits
$11.8MEquity
Deposit mix
75%Interest-bearing $106.7M25%Noninterest $35.5MQ4 2003Q4 2004

NIM

7.16%Q4 ’026.54%Q4 ’036.39%Q4 ’04-6%-4%

Non-interest income vs. expense

8.03%Q4 ’026.71%Q4 ’036.99%Q4 ’04-30%+34%

Executive Summary

  • Earnings: ROA of 1.04%, down 18 bps year over year; NIM at 4.97%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.35%.
  • Funding: loans stand at 81.36% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

1.04%-18 bps YoY

Net Interest Margin (quarter, annualized)

4.97%-20 bps YoY

Efficiency Ratio (quarter, annualized)

84.15%+1,080 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.22%2.10%2.24%2.77%1.04%-18 bps
Return on Equity14.75%25.99%28.56%35.84%13.32%-142 bps
Net Interest Margin5.17%5.13%5.28%5.26%4.97%-20 bps
Efficiency Ratio73.35%69.63%71.27%68.48%84.15%+1,080 bps
Non-Interest Burden2.73%2.31%2.54%2.17%3.66%+93 bps
Growth
Asset Growth (YoY)14.69%13.82%20.13%16.27%24.05%+935 bps
Loan Growth (YoY)10.34%9.98%17.73%18.09%25.66%+1,532 bps
Deposit Growth (YoY)14.43%13.62%21.56%16.87%24.73%+1,030 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.53%0.76%0.23%0.25%1.35%-18 bps
Allowance / Loans0.67%0.71%0.72%0.71%0.43%-24 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 Capital11.25%11.67%10.94%11.09%10.63%-62 bps
Equity / Assets7.94%8.22%7.50%7.98%7.62%-32 bps
Liquidity & Funding
Loans / Deposits80.76%78.58%81.19%83.55%81.36%+60 bps
Liquid Assets / Assets0.00%0.43%0.39%0.39%0.36%+36 bps
CRE / Total Capitaln/an/an/an/an/an/an/a