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Letter portraitLegal landscapeQuarterYTD

American State Bank of Olivia

Olivia, MN · Cert 20712

FDIC

Q3 2005

$75.6MAssets
$69.9MLoans
$61.1MDeposits
$7.0MEquity
Loan mix
67%RE $21.3M33%C&I $10.3M0%Consumer $0.1MQ3 2004Q3 2005
Deposit mix
95%Interest-bearing $58.3M5%Noninterest $2.8MQ3 2004Q3 2005

NIM

6.40%Q3 ’036.03%Q3 ’046.43%Q3 ’05-3%-1%

Non-interest income vs. expense

2.68%Q3 ’032.13%Q3 ’042.21%Q3 ’05-18%+4%

Executive Summary

  • Earnings: ROA of 0.20%, down 69 bps year over year; NIM at 4.16%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.10%.
  • Funding: loans stand at 114.43% of deposits as of Q3 2005.

Financial Results

Return on Assets (YTD, annualized)

0.20%-69 bps YoY

Net Interest Margin (YTD, annualized)

4.16%-3 bps YoY

Efficiency Ratio (YTD, annualized)

52.00%+240 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005YoY ΔTrend
Earnings
Return on Assets0.89%0.94%1.09%0.77%0.20%-69 bps
Return on Equity9.67%10.37%12.16%8.36%2.17%-750 bps
Net Interest Margin4.20%4.01%4.28%4.25%4.16%-3 bps
Efficiency Ratio49.60%49.74%54.57%51.86%52.00%+240 bps
Non-Interest Burden2.03%1.95%2.30%2.16%2.12%+9 bps
Growth
Asset Growth (YoY)29.69%31.52%14.44%17.39%9.22%-2,047 bps
Loan Growth (YoY)31.12%30.96%17.52%14.15%10.11%-2,101 bps
Deposit Growth (YoY)31.00%33.07%15.97%18.23%2.44%-2,855 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.28%0.29%0.02%0.03%0.10%-18 bps
Allowance / Loans1.49%1.48%1.51%1.84%1.82%+33 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 Capital10.89%11.23%11.25%11.17%10.73%-17 bps
Equity / Assets9.10%8.71%9.22%9.60%9.33%+23 bps
Liquidity & Funding
Loans / Deposits106.46%99.88%105.68%103.99%114.43%+797 bps
Liquid Assets / Assets3.01%2.52%2.14%1.78%1.47%-153 bps
CRE / Total Capitaln/an/an/an/an/an/an/a