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First National Bank of Montgomery

Montgomery, MN · Cert 18705

FDIC

Q2 2008

$65.7MAssets
$37.7MLoans
$48.9MDeposits
$16.2MEquity
Loan mix
78%RE $22.0M21%C&I $6.1M0%Consumer $0.1MQ2 2007Q2 2008
Deposit mix
85%Interest-bearing $41.3M15%Noninterest $7.6MQ2 2007Q2 2008

NIM

5.87%Q2 ’066.06%Q2 ’072.26%Q2 ’08-9%-53%

Non-interest income vs. expense

2.98%Q2 ’063.04%Q2 ’071.69%Q2 ’08+0%-190%

Executive Summary

  • Earnings: ROA of 4.26%, up 341 bps year over year; NIM at 1.64%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.86%.
  • Funding: loans stand at 77.16% of deposits as of Q2 2008.

Financial Results

Return on Assets (YTD, annualized)

4.26%+341 bps YoY

Net Interest Margin (YTD, annualized)

1.64%-182 bps YoY

Efficiency Ratio (YTD, annualized)

28.05%-4,825 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets0.85%0.80%0.59%-0.88%4.26%+341 bps
Return on Equity7.53%7.09%5.14%-7.27%25.75%+1,822 bps
Net Interest Margin3.47%3.39%3.40%3.26%1.64%-182 bps
Efficiency Ratio76.31%75.91%79.79%105.60%28.05%-4,825 bps
Non-Interest Burden2.52%2.46%2.62%3.47%-2.28%-480 bps
Growth
Asset Growth (YoY)7.67%0.83%-3.95%-5.11%4.35%-332 bps
Loan Growth (YoY)-0.80%-4.12%-4.94%-6.49%-14.11%-1,331 bps
Deposit Growth (YoY)7.27%0.14%-5.07%-5.96%-11.16%-1,842 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.17%0.86%0.79%1.39%0.86%-31 bps
Allowance / Loans0.90%0.94%0.99%0.91%1.79%+89 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 Capital17.59%18.11%18.35%18.65%23.30%+572 bps
Equity / Assets11.29%11.48%11.79%12.33%24.68%+1,339 bps
Liquidity & Funding
Loans / Deposits79.81%78.80%80.04%82.22%77.16%-265 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%3.04%+304 bps
CRE / Total Capitaln/an/an/an/an/an/an/a