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Farmers State Bank

Ridgeland, WI · Cert 2484

FDIC

Q3 2008

$115.0MAssets
$82.3MLoans
$86.7MDeposits
$11.5MEquity
Loan mix
55%RE $31.7M44%C&I $24.9M1%Consumer $0.6MQ3 2007Q3 2008
Deposit mix
92%Interest-bearing $79.9M8%Noninterest $6.8MQ3 2007Q3 2008

NIM

5.76%Q3 ’064.53%Q3 ’074.62%Q3 ’08-32%0%

Non-interest income vs. expense

2.32%Q3 ’065.32%Q3 ’073.85%Q3 ’08+170%-32%

Executive Summary

  • Earnings: ROA of -2.63%, up 2 bps year over year; NIM at 2.11%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.08%.
  • Funding: loans stand at 94.93% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

-2.63%+2 bps YoY

Net Interest Margin (YTD, annualized)

2.11%-1 bps YoY

Efficiency Ratio (YTD, annualized)

150.79%-6,561 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets-2.64%-2.41%-5.83%-3.53%-2.63%+2 bps
Return on Equity-12.21%-12.84%-49.07%-31.99%-24.53%-1,232 bps
Net Interest Margin2.11%1.88%2.36%2.38%2.11%-1 bps
Efficiency Ratio216%175.29%169.32%159.00%150.79%-6,561 bps
Non-Interest Burden4.97%3.63%4.50%4.11%3.40%-157 bps
Growth
Asset Growth (YoY)40.14%102.81%209%169.14%141.77%+10,164 bps
Loan Growth (YoY)35.20%100.26%156.06%146.14%148.04%+11,284 bps
Deposit Growth (YoY)8.42%53.21%235%322%176.03%+16,761 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%9.27%3.79%2.08%+208 bps
Allowance / Loans1.10%1.42%1.28%1.38%1.40%+30 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 Capital21.80%15.41%12.43%11.79%12.65%-914 bps
Equity / Assets19.65%12.96%10.90%9.73%10.04%-961 bps
Liquidity & Funding
Loans / Deposits105.65%107.61%115.91%92.63%94.93%-1,071 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a