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Security State Bank of Maple Lake (Incorporated)

Maple Lake, MN · Cert 1924

FDIC

Q4 2007

$79.9MAssets
$49.2MLoans
$59.3MDeposits
$19.1MEquity
Loan mix
88%RE $33.2M11%C&I $4.1M1%Consumer $0.2MQ4 2006Q4 2007
Deposit mix
82%Interest-bearing $48.8M18%Noninterest $10.5MQ4 2006Q4 2007

NIM

5.56%Q4 ’056.22%Q4 ’064.73%Q4 ’07+5%-34%

Non-interest income vs. expense

2.91%Q4 ’053.46%Q4 ’061.99%Q4 ’07+28%-46%

Executive Summary

  • Earnings: ROA of 1.06%, down 42 bps year over year; NIM at 2.78%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.47%.
  • Funding: loans stand at 82.98% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

1.06%-42 bps YoY

Net Interest Margin (YTD, annualized)

2.78%-143 bps YoY

Efficiency Ratio (YTD, annualized)

60.08%-935 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets1.48%0.47%0.80%1.01%1.06%-42 bps
Return on Equity15.36%2.87%4.22%4.95%5.01%-1,035 bps
Net Interest Margin4.21%1.24%2.17%2.56%2.78%-143 bps
Efficiency Ratio69.42%62.70%65.51%61.16%60.08%-935 bps
Non-Interest Burden2.69%0.70%1.29%1.38%1.45%-124 bps
Growth
Asset Growth (YoY)-0.61%16.56%18.61%13.31%13.16%+1,377 bps
Loan Growth (YoY)-1.77%-2.51%-3.58%-0.93%2.19%+396 bps
Deposit Growth (YoY)1.44%3.61%5.67%-2.47%-2.52%-396 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.13%0.07%0.04%0.47%+47 bps
Allowance / Loans1.23%1.26%1.30%1.45%1.22%-1 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 Capital13.94%15.76%14.91%15.44%15.23%+129 bps
Equity / Assets9.31%23.02%23.48%24.70%23.91%+1,460 bps
Liquidity & Funding
Loans / Deposits79.16%80.79%82.30%87.63%82.98%+383 bps
Liquid Assets / Assets0.30%0.27%0.27%0.28%0.25%-5 bps
CRE / Total Capitaln/an/an/an/an/an/an/a