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Countrybank USA

Cando, ND · Cert 19765

FDIC

Q4 2009

$48.1MAssets
$26.3MLoans
$40.7MDeposits
$4.8MEquity
Loan mix
76%RE $10.5M23%C&I $3.2M2%Consumer $0.2MQ4 2008Q4 2009
Deposit mix
93%Interest-bearing $38.0M7%Noninterest $2.7MQ4 2008Q4 2009

NIM

6.67%Q4 ’075.58%Q4 ’084.65%Q4 ’09+2%-11%

Non-interest income vs. expense

5.26%Q4 ’075.51%Q4 ’085.22%Q4 ’09+6%+6%

Executive Summary

  • Earnings: ROA of -0.17%, up 28 bps year over year; NIM at 3.12%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.81%.
  • Funding: loans stand at 64.53% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

-0.17%+28 bps YoY

Net Interest Margin (quarter, annualized)

3.12%-40 bps YoY

Efficiency Ratio (quarter, annualized)

101.45%+1,026 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-0.44%0.66%0.63%1.47%-0.17%+28 bps
Return on Equity-4.60%6.82%6.46%14.68%-1.67%+294 bps
Net Interest Margin3.52%3.32%3.15%3.28%3.12%-40 bps
Efficiency Ratio91.19%84.82%85.98%74.65%101.45%+1,026 bps
Non-Interest Burden3.03%2.52%2.41%1.61%3.22%+19 bps
Growth
Asset Growth (YoY)2.07%-0.89%4.56%6.24%5.03%+296 bps
Loan Growth (YoY)2.23%-1.18%-7.26%-2.36%-6.71%-893 bps
Deposit Growth (YoY)-2.32%-1.96%3.74%6.54%5.19%+751 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.65%-0.06%0.49%0.63%0.81%+15 bps
Allowance / Loans1.27%1.40%1.29%1.11%1.02%-25 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 Capital13.72%14.32%15.02%15.01%15.21%+150 bps
Equity / Assets9.61%9.74%9.66%10.32%9.89%+28 bps
Liquidity & Funding
Loans / Deposits72.76%67.83%67.61%71.17%64.53%-823 bps
Liquid Assets / Assets3.60%9.46%12.72%11.55%9.72%+611 bps
CRE / Total Capitaln/an/an/an/an/an/an/a