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Valley Bank & Trust

Cherokee, IA · Cert 25866

FDIC

Q3 2011

$29.0MAssets
$23.7MLoans
$26.3MDeposits
$2.7MEquity
Loan mix
69%RE $13.3M17%C&I $3.3M14%Consumer $2.6MQ3 2010Q3 2011
Deposit mix
90%Interest-bearing $23.6M10%Noninterest $2.6MQ3 2010Q3 2011

NIM

5.80%Q3 ’095.81%Q3 ’104.83%Q3 ’11+14%-16%

Non-interest income vs. expense

3.33%Q3 ’093.31%Q3 ’103.26%Q3 ’110%-3%

Executive Summary

  • Earnings: ROA of 0.58%, down 7 bps year over year; NIM at 3.88%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.34%.
  • Funding: loans stand at 90.05% of deposits as of Q3 2011.

Financial Results

Return on Assets (YTD, annualized)

0.58%-7 bps YoY

Net Interest Margin (YTD, annualized)

3.88%-74 bps YoY

Efficiency Ratio (YTD, annualized)

74.16%+922 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets0.65%0.50%0.75%0.41%0.58%-7 bps
Return on Equity7.49%5.78%8.83%4.86%6.62%-86 bps
Net Interest Margin4.62%4.45%3.62%3.86%3.88%-74 bps
Efficiency Ratio64.94%65.98%74.45%74.77%74.16%+922 bps
Non-Interest Burden2.83%2.77%2.59%2.76%2.74%-9 bps
Growth
Asset Growth (YoY)1.75%5.48%7.25%5.49%1.50%-25 bps
Loan Growth (YoY)1.82%-4.07%-6.39%-6.45%-6.32%-814 bps
Deposit Growth (YoY)1.27%5.47%7.53%5.37%1.13%-15 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.54%1.00%-0.35%-0.27%0.34%-21 bps
Allowance / Loans1.68%1.59%1.78%2.14%1.88%+20 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 Capital12.66%12.71%13.69%13.97%14.43%+177 bps
Equity / Assets8.92%8.37%8.52%8.68%9.25%+34 bps
Liquidity & Funding
Loans / Deposits97.20%87.36%86.48%87.41%90.05%-716 bps
Liquid Assets / Assets2.28%2.14%18.73%17.94%15.27%+1,299 bps
CRE / Total Capitaln/an/an/an/an/an/an/a