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First State Bank

Junction City, KS · Cert 17278

FDIC

Q4 2006

$44.0MAssets
$18.5MLoans
$40.6MDeposits
$3.3MEquity
Deposit mix
85%Interest-bearing $34.4M15%Noninterest $6.2MQ4 2005Q4 2006

NIM

3.94%Q4 ’044.71%Q4 ’056.02%Q4 ’06+9%+22%

Non-interest income vs. expense

4.56%Q4 ’044.16%Q4 ’053.44%Q4 ’06+9%-31%

Executive Summary

  • Earnings: ROA of 2.53%, up 194 bps year over year; NIM at 3.90%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 1.51%.
  • Funding: loans stand at 45.59% of deposits as of Q4 2006.

Financial Results

Return on Assets (quarter, annualized)

2.53%+194 bps YoY

Net Interest Margin (quarter, annualized)

3.90%+70 bps YoY

Efficiency Ratio (quarter, annualized)

62.79%-2,641 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets0.59%1.13%1.03%1.91%2.53%+194 bps
Return on Equity6.98%14.00%13.58%23.95%32.31%+2,533 bps
Net Interest Margin3.19%3.14%3.39%3.55%3.90%+70 bps
Efficiency Ratio89.20%77.19%77.51%65.87%62.79%-2,641 bps
Non-Interest Burden2.69%1.99%2.27%1.58%1.85%-84 bps
Growth
Asset Growth (YoY)-10.65%11.41%-11.56%7.89%24.80%+3,545 bps
Loan Growth (YoY)2.67%6.72%-2.70%8.78%9.15%+648 bps
Deposit Growth (YoY)-10.18%12.64%-12.50%7.90%26.32%+3,650 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.20%0.09%0.02%-1.51%-156 bps
Allowance / Loans0.47%0.39%0.39%0.37%0.39%-8 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 Capital13.64%12.05%12.42%14.21%13.87%+22 bps
Equity / Assets8.65%7.52%7.69%8.22%7.47%-118 bps
Liquidity & Funding
Loans / Deposits52.76%47.91%49.04%53.46%45.59%-717 bps
Liquid Assets / Assets6.88%5.95%6.03%6.08%5.45%-143 bps
CRE / Total Capitaln/an/an/an/an/an/an/a