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Farmers Savings Bank

Frederika, IA · Cert 25668

FDIC · 1 branch

Q4 2021

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2021, the quarter ended December 31, 2021, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Farmers Savings Bank

Frederika, IA · Cert 25668

FDIC · 1 branch

Q4 2021

$53.8MAssets
$21.4MLoans
$44.7MDeposits
$9.1MEquity
Loan mix
75%RE $10.7M15%C&I $2.2M10%Consumer $1.4MQ4 2020Q4 2021
Deposit mix
68%Interest-bearing $30.5M32%Noninterest $14.2MQ4 2020Q4 2021

NIM

3.58%Q4 ’192.71%Q4 ’201.95%Q4 ’21-26%-27%

Non-interest income vs. expense

1.80%Q4 ’191.49%Q4 ’201.66%Q4 ’21-17%+4%

Market Position · Waterloo-Cedar Falls, IA · 2021 SOD (annual) · 1.0% share · #19 of 24 inst. · $0.0B of $4.6B

Executive Summary

  • Earnings: ROA of 0.12%, down 67 bps year over year; NIM at 1.65%.
  • Asset quality: problem loans at 0.27% of loans (+13 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 16.75%, down 65 bps from a year ago.
  • Funding: loans stand at 47.84% of deposits as of Q4 2021.

Financial Results

Return on Assets (YTD, annualized)

0.12%-67 bps YoY

Net Interest Margin (YTD, annualized)

1.65%-60 bps YoY

Efficiency Ratio (YTD, annualized)

83.54%+2,297 bps YoY

Tier 1 Leverage Ratio

16.75%-65 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2020Q1 2021Q2 2021Q3 2021Q4 2021YoY ΔTrend
Earnings
Return on Assets0.79%0.49%0.55%0.51%0.12%-67 bps
Return on Equity4.35%2.95%3.29%3.01%0.72%-362 bps
Net Interest Margin2.25%1.77%1.66%1.67%1.65%-60 bps
Efficiency Ratio60.57%64.03%61.41%63.94%83.54%+2,297 bps
Non-Interest Burden1.28%1.08%0.93%0.98%1.33%+5 bps
Growth
Asset Growth (YoY)13.29%18.22%12.43%7.31%-0.58%-1,387 bps
Loan Growth (YoY)-9.42%-20.26%-16.10%-17.15%-13.59%-417 bps
Deposit Growth (YoY)12.77%23.08%15.66%8.84%5.71%-707 bps
Asset Quality
Nonperforming Loans / Loans0.15%0.76%0.18%0.30%0.27%+13 bps
Net Charge-Offs / Loans-0.01%-0.07%-0.07%-0.05%-0.03%-2 bps
Allowance / Loans1.22%1.34%1.46%1.53%1.44%+22 bps
Allowance Coverage of NPLs8.4x1.8x8.3x5.1x5.3x-3.1x
Capital
Tier 1 Leverage Ratio17.40%16.97%16.43%16.95%16.75%-65 bps
Total Risk-Based Capital17.40%16.97%16.43%16.95%16.75%-65 bps
Equity / Assets16.75%16.60%16.74%17.37%16.84%+9 bps
Liquidity & Funding
Loans / Deposits58.53%51.01%47.05%46.65%47.84%-1,068 bps
Liquid Assets / Assets34.49%44.42%49.46%49.72%52.45%+1,797 bps
CRE / Total Capitaln/an/an/an/an/an/an/a