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First Valley Bank

Seeley Lake, MT · Cert 26190

FDIC

Q1 2014

$51.7MAssets
$34.4MLoans
$47.4MDeposits
$4.3MEquity
Loan mix
79%RE $21.7M16%C&I $4.4M5%Consumer $1.2MQ1 2013Q1 2014
Deposit mix
82%Interest-bearing $38.7M18%Noninterest $8.6MQ1 2013Q1 2014

NIM

4.75%Q1 ’124.38%Q1 ’133.85%Q1 ’14-6%-12%

Non-interest income vs. expense

2.04%Q1 ’121.95%Q1 ’132.69%Q1 ’14-1%+43%

Executive Summary

  • Earnings: ROA of 0.58%, down 114 bps year over year; NIM at 3.06%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.20%.
  • Funding: loans stand at 72.63% of deposits as of Q1 2014.

Financial Results

Return on Assets (quarter, annualized)

0.58%-114 bps YoY

Net Interest Margin (quarter, annualized)

3.06%-42 bps YoY

Efficiency Ratio (quarter, annualized)

82.20%+2,937 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2013Q2 2013Q3 2013Q4 2013Q1 2014YoY ΔTrend
Earnings
Return on Assets1.73%1.87%0.48%1.76%0.58%-114 bps
Return on Equity18.85%20.53%5.29%19.06%6.59%-1,226 bps
Net Interest Margin3.47%3.71%3.23%3.10%3.06%-42 bps
Efficiency Ratio52.83%52.55%86.06%59.05%82.20%+2,937 bps
Non-Interest Burden1.73%1.83%2.75%1.74%2.47%+74 bps
Growth
Asset Growth (YoY)-1.12%0.09%-1.13%-0.39%0.05%+117 bps
Loan Growth (YoY)-1.57%-3.07%-9.83%-10.01%-8.46%-689 bps
Deposit Growth (YoY)-0.77%0.00%-1.04%-0.44%0.91%+169 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.03%0.20%+20 bps
Allowance / Loans1.13%1.15%1.21%1.07%1.03%-10 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 Capital14.03%14.59%15.32%15.60%13.95%-8 bps
Equity / Assets8.99%9.19%9.06%9.45%8.28%-71 bps
Liquidity & Funding
Loans / Deposits80.07%78.24%73.79%73.59%72.63%-743 bps
Liquid Assets / Assets21.00%23.09%26.30%22.37%26.47%+547 bps
CRE / Total Capitaln/an/an/an/an/an/an/a