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Lakewood Bank, National Association

Baxter, MN · Cert 18969

FDIC

Q3 2011

$140.1MAssets
$102.5MLoans
$119.8MDeposits
$19.9MEquity
Loan mix
81%RE $72.5M13%C&I $11.3M6%Consumer $5.5MQ3 2010Q3 2011
Deposit mix
80%Interest-bearing $95.4M20%Noninterest $24.4MQ3 2010Q3 2011

NIM

5.75%Q3 ’095.08%Q3 ’104.86%Q3 ’11-9%+10%

Non-interest income vs. expense

2.48%Q3 ’092.96%Q3 ’102.64%Q3 ’11+6%+29%

Executive Summary

  • Earnings: ROA of 0.26%, down 36 bps year over year; NIM at 4.10%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.85%.
  • Funding: loans stand at 85.55% of deposits as of Q3 2011.

Financial Results

Return on Assets (quarter, annualized)

0.26%-36 bps YoY

Net Interest Margin (quarter, annualized)

4.10%+38 bps YoY

Efficiency Ratio (quarter, annualized)

66.09%+138 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets0.62%0.56%0.34%0.65%0.26%-36 bps
Return on Equity4.48%4.07%2.43%4.61%1.80%-268 bps
Net Interest Margin3.72%4.09%3.73%3.88%4.10%+38 bps
Efficiency Ratio64.72%71.12%65.51%61.74%66.09%+138 bps
Non-Interest Burden2.19%2.93%2.31%2.23%2.83%+64 bps
Growth
Asset Growth (YoY)7.40%0.66%-2.08%-1.31%-4.95%-1,235 bps
Loan Growth (YoY)-5.94%-7.14%-8.99%-6.08%-6.83%-89 bps
Deposit Growth (YoY)12.66%2.39%-0.01%1.25%-3.32%-1,598 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.63%0.83%1.27%1.29%1.85%+122 bps
Allowance / Loans1.66%1.59%1.57%1.40%1.26%-41 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 Capital12.15%12.55%12.61%12.70%12.54%+39 bps
Equity / Assets13.64%14.10%14.18%14.12%14.22%+58 bps
Liquidity & Funding
Loans / Deposits88.78%87.33%86.37%86.33%85.55%-323 bps
Liquid Assets / Assets0.00%0.10%6.56%5.60%6.02%+602 bps
CRE / Total Capitaln/an/an/an/an/an/an/a