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Letter portraitLegal landscapeQuarterYTD

American State Bank of Rapid City

Rapid City, SD · Cert 21131

FDIC

Q4 2003

$176.2MAssets
$145.3MLoans
$145.4MDeposits
$19.0MEquity
Loan mix
32%RE $14.7M67%C&I $30.6M1%Consumer $0.6MQ4 2002Q4 2003
Deposit mix
83%Interest-bearing $121.0M17%Noninterest $24.4MQ4 2002Q4 2003

NIM

7.64%Q4 ’016.20%Q4 ’025.77%Q4 ’03-1%+5%

Non-interest income vs. expense

2.22%Q4 ’012.24%Q4 ’022.36%Q4 ’03+4%-6%

Executive Summary

  • Earnings: ROA of 0.96%, up 10 bps year over year; NIM at 3.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.17%.
  • Funding: loans stand at 99.89% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

0.96%+10 bps YoY

Net Interest Margin (YTD, annualized)

3.57%+18 bps YoY

Efficiency Ratio (YTD, annualized)

57.79%-325 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets0.87%0.79%0.92%0.98%0.96%+10 bps
Return on Equity9.04%7.72%9.09%9.50%9.31%+26 bps
Net Interest Margin3.39%3.54%3.62%3.46%3.57%+18 bps
Efficiency Ratio61.04%62.22%59.66%58.56%57.79%-325 bps
Non-Interest Burden1.96%2.09%2.04%1.85%1.85%-11 bps
Growth
Asset Growth (YoY)12.79%8.26%14.37%2.94%1.41%-1,138 bps
Loan Growth (YoY)3.76%-0.70%13.68%11.38%16.45%+1,269 bps
Deposit Growth (YoY)10.15%6.64%6.55%1.76%-0.59%-1,074 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%0.18%0.13%0.17%0.17%-13 bps
Allowance / Loans1.33%1.36%1.22%1.23%1.31%-2 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 Capital13.56%13.65%12.50%12.90%12.97%-59 bps
Equity / Assets10.05%10.49%9.92%10.60%10.80%+74 bps
Liquidity & Funding
Loans / Deposits85.27%88.44%100.31%97.60%99.89%+1,461 bps
Liquid Assets / Assets0.02%0.02%0.01%0.02%0.00%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a