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Valley Bank

North Mankato, MN · Cert 18845

FDIC

Q1 2010

$249.1MAssets
$139.5MLoans
$211.1MDeposits
$31.2MEquity
Loan mix
71%RE $69.9M29%C&I $28.1M0%Consumer $0.3MQ1 2009Q1 2010
Deposit mix
84%Interest-bearing $178.1M16%Noninterest $33.0MQ1 2009Q1 2010

NIM

5.36%Q1 ’084.48%Q1 ’093.86%Q1 ’10+5%-11%

Non-interest income vs. expense

2.46%Q1 ’082.73%Q1 ’092.93%Q1 ’10+14%+17%

Executive Summary

  • Earnings: ROA of 0.14%, down 155 bps year over year; NIM at 3.17%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.18%.
  • Funding: loans stand at 66.10% of deposits as of Q1 2010.

Financial Results

Return on Assets (quarter, annualized)

0.14%-155 bps YoY

Net Interest Margin (quarter, annualized)

3.17%-40 bps YoY

Efficiency Ratio (quarter, annualized)

74.23%+1,293 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2009Q2 2009Q3 2009Q4 2009Q1 2010YoY ΔTrend
Earnings
Return on Assets1.69%1.33%1.06%1.27%0.14%-155 bps
Return on Equity13.35%10.62%8.30%9.83%1.14%-1,221 bps
Net Interest Margin3.57%3.62%4.44%3.30%3.17%-40 bps
Efficiency Ratio61.30%68.90%70.55%62.00%74.23%+1,293 bps
Non-Interest Burden1.85%2.21%2.81%1.68%2.16%+31 bps
Growth
Asset Growth (YoY)-2.81%-1.37%19.61%19.11%19.03%+2,184 bps
Loan Growth (YoY)16.80%11.00%13.63%-2.08%-0.55%-1,735 bps
Deposit Growth (YoY)-4.43%-1.49%19.63%20.80%20.45%+2,487 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.02%0.30%0.61%2.18%+217 bps
Allowance / Loans1.23%1.22%1.55%1.70%1.60%+38 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 Capital10.49%10.68%11.75%13.21%12.34%+184 bps
Equity / Assets12.42%12.62%13.02%12.90%12.52%+10 bps
Liquidity & Funding
Loans / Deposits80.06%79.80%74.89%66.00%66.10%-1,396 bps
Liquid Assets / Assets0.00%0.00%0.65%0.67%1.29%+129 bps
CRE / Total Capitaln/an/an/an/an/an/an/a