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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

5.78%Q4 ’056.29%Q4 ’065.62%Q4 ’07+1%-17%

Non-interest income vs. expense

3.19%Q4 ’054.76%Q4 ’062.39%Q4 ’07+76%-59%

Executive Summary

  • Earnings: ROA of 1.21%, up 119 bps year over year; NIM at 3.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.74%.
  • Funding: loans stand at 82.98% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

1.21%+119 bps YoY

Net Interest Margin (quarter, annualized)

3.39%-68 bps YoY

Efficiency Ratio (quarter, annualized)

57.69%-4,043 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.02%0.47%1.09%1.40%1.21%+119 bps
Return on Equity0.24%2.87%4.71%5.81%4.99%+476 bps
Net Interest Margin4.07%1.24%3.25%3.32%3.39%-68 bps
Efficiency Ratio98.12%62.70%66.45%55.58%57.69%-4,043 bps
Non-Interest Burden3.98%0.70%1.96%1.56%1.64%-234 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%0.00%0.00%1.74%+174 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