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Farmers State Bank

Corning, KS · Cert 18020

FDIC

Q4 2005

$6.8MAssets
$4.0MLoans
$5.7MDeposits
$1.1MEquity
Deposit mix
78%Interest-bearing $4.4M22%Noninterest $1.2MQ4 2004Q4 2005

NIM

5.47%Q4 ’035.16%Q4 ’045.64%Q4 ’05-2%+9%

Non-interest income vs. expense

3.32%Q4 ’032.99%Q4 ’043.16%Q4 ’05-12%+6%

Executive Summary

  • Earnings: ROA of 2.82%, up 173 bps year over year; NIM at 4.54%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 70.04% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

2.82%+173 bps YoY

Net Interest Margin (quarter, annualized)

4.54%+39 bps YoY

Efficiency Ratio (quarter, annualized)

59.77%-529 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.08%3.81%-3.71%1.76%2.82%+173 bps
Return on Equity11.06%37.55%-29.77%12.14%18.45%+739 bps
Net Interest Margin4.16%4.03%0.35%4.42%4.54%+39 bps
Efficiency Ratio65.06%51.85%-66.67%47.73%59.77%-529 bps
Non-Interest Burden2.55%1.75%0.23%2.04%2.70%+15 bps
Growth
Asset Growth (YoY)0.53%-6.04%0.91%-2.31%-3.75%-428 bps
Loan Growth (YoY)2.54%-13.15%-17.26%-18.44%-22.46%-2,500 bps
Deposit Growth (YoY)1.42%-6.27%-4.54%-9.63%-9.97%-1,138 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.60%1.50%1.45%1.50%1.64%+4 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 Capital15.96%18.62%18.36%18.80%21.66%+570 bps
Equity / Assets9.74%10.58%14.24%14.79%15.73%+599 bps
Liquidity & Funding
Loans / Deposits81.32%70.93%73.47%75.84%70.04%-1,128 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a