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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

6.02%Q3 ’066.32%Q3 ’075.47%Q3 ’08-12%-5%

Non-interest income vs. expense

2.18%Q3 ’066.13%Q3 ’074.20%Q3 ’08+221%-31%

Executive Summary

  • Earnings: ROA of -1.26%, up 94 bps year over year; NIM at 2.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 94.93% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

-1.26%+94 bps YoY

Net Interest Margin (quarter, annualized)

2.57%-14 bps YoY

Efficiency Ratio (quarter, annualized)

138.27%-3,841 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets-2.19%-2.18%-5.83%-1.66%-1.26%+94 bps
Return on Equity-9.73%-13.92%-49.07%-16.16%-12.71%-298 bps
Net Interest Margin2.71%3.17%2.36%2.72%2.57%-14 bps
Efficiency Ratio176.68%125.91%169.32%150.36%138.27%-3,841 bps
Non-Interest Burden5.37%4.27%4.50%4.33%3.73%-164 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%0.00%0.00%0 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