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Letter portraitLegal landscapeQuarterYTD

State Bank of Hudson

Hudson, SD · Cert 17148

FDIC

Q3 2004

$18.8MAssets
$12.2MLoans
$15.7MDeposits
$3.0MEquity
Deposit mix
87%Interest-bearing $13.7M13%Noninterest $2.0MQ3 2003Q3 2004

NIM

6.03%Q3 ’025.61%Q3 ’034.85%Q3 ’04+10%-10%

Non-interest income vs. expense

2.04%Q3 ’021.97%Q3 ’031.91%Q3 ’04+23%-4%

Executive Summary

  • Earnings: ROA of 1.74%, down 4 bps year over year; NIM at 3.33%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.52%.
  • Funding: loans stand at 77.80% of deposits as of Q3 2004.

Financial Results

Return on Assets (YTD, annualized)

1.74%-4 bps YoY

Net Interest Margin (YTD, annualized)

3.33%-37 bps YoY

Efficiency Ratio (YTD, annualized)

55.65%+362 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets1.78%1.48%2.17%1.88%1.74%-4 bps
Return on Equity12.03%10.03%15.15%12.76%11.57%-46 bps
Net Interest Margin3.70%3.41%3.22%3.21%3.33%-37 bps
Efficiency Ratio52.03%60.25%53.94%52.15%55.65%+362 bps
Non-Interest Burden1.89%2.02%1.69%1.63%1.81%-8 bps
Growth
Asset Growth (YoY)15.86%2.94%8.61%6.95%-4.71%-2,057 bps
Loan Growth (YoY)-2.18%1.08%-2.03%-8.35%-5.15%-297 bps
Deposit Growth (YoY)18.72%3.03%10.16%7.38%-6.52%-2,523 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.06%0.05%-1.24%-0.64%-0.52%-59 bps
Allowance / Loans1.71%1.66%1.80%1.85%1.81%+9 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 Capital21.65%21.70%23.27%24.47%24.58%+293 bps
Equity / Assets14.21%14.44%14.20%15.51%16.04%+183 bps
Liquidity & Funding
Loans / Deposits76.68%79.61%71.03%74.82%77.80%+112 bps
Liquid Assets / Assets7.14%11.37%2.30%4.54%1.99%-515 bps
CRE / Total Capitaln/an/an/an/an/an/an/a