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First State Bank

Van, TX · Cert 16768

FDIC

Q3 2011

$42.8MAssets
$32.1MLoans
$35.9MDeposits
$6.8MEquity
Loan mix
69%RE $21.5M8%C&I $2.4M23%Consumer $7.1MQ3 2010Q3 2011
Deposit mix
76%Interest-bearing $27.1M24%Noninterest $8.7MQ3 2010Q3 2011

NIM

5.60%Q3 ’095.16%Q3 ’104.86%Q3 ’11-1%-1%

Non-interest income vs. expense

3.42%Q3 ’093.36%Q3 ’103.34%Q3 ’11-4%+1%

Executive Summary

  • Earnings: ROA of 1.05%, down 1 bps year over year; NIM at 4.23%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.21%.
  • Funding: loans stand at 89.64% of deposits as of Q3 2011.

Financial Results

Return on Assets (YTD, annualized)

1.05%-1 bps YoY

Net Interest Margin (YTD, annualized)

4.23%-2 bps YoY

Efficiency Ratio (YTD, annualized)

66.98%+49 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets1.06%1.09%0.94%1.04%1.05%-1 bps
Return on Equity7.10%7.24%6.17%6.75%6.77%-33 bps
Net Interest Margin4.25%4.30%4.26%4.14%4.23%-2 bps
Efficiency Ratio66.48%65.60%69.79%67.07%66.98%+49 bps
Non-Interest Burden2.56%2.55%2.75%2.53%2.59%+3 bps
Growth
Asset Growth (YoY)4.00%0.21%1.23%0.34%0.19%-381 bps
Loan Growth (YoY)-0.59%-2.14%-2.75%1.23%-1.06%-48 bps
Deposit Growth (YoY)4.04%-0.44%0.84%-0.29%-0.50%-454 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.17%0.14%0.51%0.24%0.21%+4 bps
Allowance / Loans1.02%1.06%0.99%1.01%1.00%-2 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 Capital25.73%26.13%26.81%26.79%27.50%+177 bps
Equity / Assets15.26%15.47%15.15%15.37%15.85%+59 bps
Liquidity & Funding
Loans / Deposits90.15%89.99%86.39%86.86%89.64%-51 bps
Liquid Assets / Assets10.66%9.46%11.10%11.00%10.83%+17 bps
CRE / Total Capitaln/an/an/an/an/an/an/a