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First National Bank of Fairfield, The

Fairfield, MT · Cert 2173

FDIC

Q4 2009

$93.0MAssets
$50.7MLoans
$74.1MDeposits
$15.9MEquity
Loan mix
73%RE $23.5M23%C&I $7.5M3%Consumer $1.0MQ4 2008Q4 2009
Deposit mix
83%Interest-bearing $61.4M17%Noninterest $12.7MQ4 2008Q4 2009

NIM

6.68%Q4 ’075.71%Q4 ’085.04%Q4 ’09-3%-6%

Non-interest income vs. expense

2.49%Q4 ’072.09%Q4 ’082.13%Q4 ’09-22%+11%

Executive Summary

  • Earnings: ROA of 1.36%, down 20 bps year over year; NIM at 3.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.54%.
  • Funding: loans stand at 68.37% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

1.36%-20 bps YoY

Net Interest Margin (quarter, annualized)

3.40%-22 bps YoY

Efficiency Ratio (quarter, annualized)

53.33%+498 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets1.56%1.84%1.18%11.32%1.36%-20 bps
Return on Equity9.79%10.92%6.94%7.68%7.79%-200 bps
Net Interest Margin3.61%3.51%3.25%3.51%3.40%-22 bps
Efficiency Ratio48.35%54.02%66.21%57.72%53.33%+498 bps
Non-Interest Burden1.38%1.63%1.96%1.77%1.53%+15 bps
Growth
Asset Growth (YoY)-2.58%-4.52%-1.51%-4.54%3.68%+627 bps
Loan Growth (YoY)-1.06%1.78%3.19%6.05%5.54%+659 bps
Deposit Growth (YoY)-4.00%-6.67%-2.86%-6.38%1.04%+504 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.80%-0.14%0.06%-0.03%0.54%-26 bps
Allowance / Loans2.21%2.44%2.42%2.26%2.14%-7 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 Capital26.29%28.36%28.01%27.56%26.92%+63 bps
Equity / Assets16.54%17.21%16.66%17.80%17.13%+59 bps
Liquidity & Funding
Loans / Deposits65.46%62.17%61.73%70.44%68.37%+291 bps
Liquid Assets / Assets15.51%14.50%9.33%10.23%8.06%-745 bps
CRE / Total Capitaln/an/an/an/an/an/an/a