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Security State Bank

Milford, IA · Cert 218

FDIC

Q1 2002

$40.1MAssets
$27.9MLoans
$36.8MDeposits
$2.8MEquity
Loan mix
45%RE $6.2M55%C&I $7.7M0%Consumer $0.0MQ1 2001Q1 2002
Deposit mix
93%Interest-bearing $34.0M7%Noninterest $2.7MQ1 2001Q1 2002

NIM

7.47%Q1 ’015.37%Q1 ’02-5%

Non-interest income vs. expense

3.17%Q1 ’013.13%Q1 ’02-3%

Executive Summary

  • Earnings: ROA of -2.35%, down 240 bps year over year; NIM at 2.74%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 5.93%.
  • Funding: loans stand at 75.81% of deposits as of Q1 2002.

Financial Results

Return on Assets (quarter, annualized)

-2.35%-240 bps YoY

Net Interest Margin (quarter, annualized)

2.74%-15 bps YoY

Efficiency Ratio (quarter, annualized)

100.61%+213 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets0.05%0.62%0.63%1.53%-2.35%-240 bps
Return on Equityn/a9.97%10.02%23.14%-34.82%n/a
Net Interest Margin2.88%3.20%3.66%2.83%2.74%-15 bps
Efficiency Ratio98.48%81.87%84.86%118.88%100.61%+213 bps
Non-Interest Burden2.84%2.56%3.06%3.43%2.76%-8 bps
Growth
Asset Growth (YoY)16.32%24.76%10.28%11.81%-3.99%-2,030 bps
Loan Growth (YoY)33.12%58.97%38.21%11.56%-12.40%-4,552 bps
Deposit Growth (YoY)23.67%21.58%7.50%11.19%-4.85%-2,852 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.19%0.03%0.19%10.18%5.93%+574 bps
Allowance / Loans2.99%2.54%2.59%1.25%1.33%-167 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 Capital9.73%8.71%9.16%10.91%11.11%+138 bps
Equity / Assets6.36%6.02%6.61%6.64%6.86%+50 bps
Liquidity & Funding
Loans / Deposits82.34%94.62%95.20%75.19%75.81%-653 bps
Liquid Assets / Assets0.98%0.90%0.49%0.47%0.52%-46 bps
CRE / Total Capitaln/an/an/an/an/an/an/a