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Farmers and Merchants State Bank, The

Wakefield, KS · Cert 1871

FDIC

Q2 2010

$22.2MAssets
$9.4MLoans
$17.1MDeposits
$2.1MEquity
Deposit mix
81%Interest-bearing $13.9M19%Noninterest $3.2MQ2 2009Q2 2010

NIM

5.73%Q2 ’085.00%Q2 ’094.67%Q2 ’10-1%-5%

Non-interest income vs. expense

2.78%Q2 ’082.94%Q2 ’093.04%Q2 ’10+11%+2%

Executive Summary

  • Earnings: ROA of 1.07%, down 5 bps year over year; NIM at 3.42%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.18%.
  • Funding: loans stand at 54.86% of deposits as of Q2 2010.

Financial Results

Return on Assets (quarter, annualized)

1.07%-5 bps YoY

Net Interest Margin (quarter, annualized)

3.42%-18 bps YoY

Efficiency Ratio (quarter, annualized)

74.01%+439 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets1.12%-2.81%-0.50%0.42%1.07%-5 bps
Return on Equity11.11%-29.37%-5.66%4.52%11.01%-11 bps
Net Interest Margin3.60%3.73%3.46%3.44%3.42%-18 bps
Efficiency Ratio69.62%66.54%76.52%68.64%74.01%+439 bps
Non-Interest Burden2.31%2.27%2.49%2.16%2.35%+4 bps
Growth
Asset Growth (YoY)-3.00%6.55%8.43%-1.92%1.09%+409 bps
Loan Growth (YoY)-7.69%-9.84%-17.64%-15.85%-11.07%-338 bps
Deposit Growth (YoY)-0.23%6.38%14.13%0.82%5.74%+597 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%2.80%11.09%0.00%2.18%+218 bps
Allowance / Loans1.60%3.29%1.73%2.41%1.74%+15 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 Capital15.47%14.03%14.63%17.07%16.62%+115 bps
Equity / Assets10.24%8.93%8.74%9.80%9.65%-60 bps
Liquidity & Funding
Loans / Deposits65.23%60.32%53.21%53.09%54.86%-1,036 bps
Liquid Assets / Assets2.64%2.38%2.25%2.45%2.36%-28 bps
CRE / Total Capitaln/an/an/an/an/an/an/a