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Ridgedale State Bank

Minnetonka, MN · Cert 22660

FDIC

Q2 2008

$115.6MAssets
$87.6MLoans
$94.4MDeposits
$20.2MEquity
Loan mix
74%RE $51.3M26%C&I $18.0M0%Consumer $0.2MQ2 2007Q2 2008
Deposit mix
79%Interest-bearing $74.5M21%Noninterest $19.9MQ2 2007Q2 2008

NIM

5.79%Q2 ’066.31%Q2 ’074.52%Q2 ’08-2%-23%

Non-interest income vs. expense

2.97%Q2 ’062.81%Q2 ’074.41%Q2 ’08-4%+65%

Executive Summary

  • Earnings: ROA of -2.02%, down 293 bps year over year; NIM at 2.88%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.79%.
  • Funding: loans stand at 92.81% of deposits as of Q2 2008.

Financial Results

Return on Assets (YTD, annualized)

-2.02%-293 bps YoY

Net Interest Margin (YTD, annualized)

2.88%-87 bps YoY

Efficiency Ratio (YTD, annualized)

134.33%+6,611 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets0.91%0.94%0.54%-5.37%-2.02%-293 bps
Return on Equity12.05%12.45%6.98%-41.64%-13.89%-2,594 bps
Net Interest Margin3.75%3.98%3.92%3.28%2.88%-87 bps
Efficiency Ratio68.21%68.54%71.48%208%134.33%+6,611 bps
Non-Interest Burden2.45%2.61%2.69%7.38%4.05%+160 bps
Growth
Asset Growth (YoY)-7.13%4.09%-6.12%12.84%21.32%+2,845 bps
Loan Growth (YoY)6.47%1.72%-3.82%-4.29%11.29%+481 bps
Deposit Growth (YoY)-2.24%7.53%1.45%10.05%10.60%+1,284 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.77%0.59%1.05%-0.07%0.79%+2 bps
Allowance / Loans0.98%1.00%0.94%2.01%1.31%+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 Capital11.72%11.86%12.14%12.23%11.32%-40 bps
Equity / Assets7.92%7.65%8.04%16.89%17.50%+959 bps
Liquidity & Funding
Loans / Deposits92.24%86.94%86.52%77.43%92.81%+57 bps
Liquid Assets / Assets0.05%0.04%0.03%0.07%0.02%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a