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Mills County State Bank

Glenwood, IA · Cert 212

FDIC

Q4 2007

$34.0MAssets
$19.8MLoans
$30.4MDeposits
$3.5MEquity
Deposit mix
82%Interest-bearing $24.8M18%Noninterest $5.6MQ4 2006Q4 2007

NIM

5.42%Q4 ’055.69%Q4 ’066.23%Q4 ’07-11%+10%

Non-interest income vs. expense

4.59%Q4 ’054.72%Q4 ’064.52%Q4 ’07+7%-8%

Executive Summary

  • Earnings: ROA of 1.30%, up 64 bps year over year; NIM at 4.21%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Funding: loans stand at 65.30% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

1.30%+64 bps YoY

Net Interest Margin (quarter, annualized)

4.21%+40 bps YoY

Efficiency Ratio (quarter, annualized)

77.69%-1,048 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.66%0.56%1.01%1.07%1.30%+64 bps
Return on Equity7.28%6.10%10.85%11.31%12.96%+567 bps
Net Interest Margin3.81%3.98%3.91%3.96%4.21%+40 bps
Efficiency Ratio88.17%89.13%82.79%80.41%77.69%-1,048 bps
Non-Interest Burden3.18%3.38%2.88%2.84%2.91%-27 bps
Growth
Asset Growth (YoY)-1.65%-2.16%-2.14%0.98%-0.40%+125 bps
Loan Growth (YoY)5.69%-0.98%-6.00%0.90%0.97%-472 bps
Deposit Growth (YoY)-0.44%-0.16%2.27%-5.08%-0.62%-19 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.08%0.00%0.00%0.14%0.06%-2 bps
Allowance / Loans1.44%1.51%1.56%1.40%1.37%-6 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 Capital16.59%17.30%18.15%17.22%18.06%+148 bps
Equity / Assets9.14%9.29%9.27%9.72%10.33%+119 bps
Liquidity & Funding
Loans / Deposits64.27%60.48%58.64%66.89%65.30%+103 bps
Liquid Assets / Assets9.96%9.66%10.25%9.50%8.64%-132 bps
CRE / Total Capitaln/an/an/an/an/an/an/a