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Citizens State Bank

Fort Dodge, IA · Cert 26720

FDIC · 3 branches

Q3 2014

$145.3MAssets
$89.9MLoans
$125.9MDeposits
$16.6MEquity
Loan mix
73%RE $42.1M23%C&I $13.3M5%Consumer $2.6MQ3 2013Q3 2014
Deposit mix
82%Interest-bearing $102.9M18%Noninterest $22.9MQ3 2013Q3 2014

NIM

4.00%Q3 ’123.84%Q3 ’133.76%Q3 ’14-2%-2%

Non-interest income vs. expense

2.05%Q3 ’122.21%Q3 ’131.99%Q3 ’14+16%-9%

Executive Summary

  • Earnings: ROA of 1.30%, up 4 bps year over year; NIM at 3.45%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 71.40% of deposits as of Q3 2014.

Financial Results

Return on Assets (quarter, annualized)

1.30%+4 bps YoY

Net Interest Margin (quarter, annualized)

3.45%-9 bps YoY

Efficiency Ratio (quarter, annualized)

53.19%-371 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2013Q4 2013Q1 2014Q2 2014Q3 2014YoY ΔTrend
Earnings
Return on Assets1.25%1.12%1.09%1.22%1.30%+4 bps
Return on Equity11.69%10.45%10.21%11.10%11.39%-30 bps
Net Interest Margin3.54%3.43%3.29%3.34%3.45%-9 bps
Efficiency Ratio56.90%60.09%60.53%55.14%53.19%-371 bps
Non-Interest Burden1.87%1.94%1.90%1.69%1.70%-17 bps
Growth
Asset Growth (YoY)3.54%0.96%3.24%2.74%1.22%-233 bps
Loan Growth (YoY)6.83%2.00%5.93%2.03%6.81%-2 bps
Deposit Growth (YoY)4.24%9.57%3.26%1.89%-0.20%-444 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.31%0.00%-0.01%-0.03%-0.01%-32 bps
Allowance / Loans1.83%1.67%1.78%1.78%1.73%-11 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 Capital16.01%15.10%15.98%16.22%16.16%+14 bps
Equity / Assets10.77%10.66%10.63%11.36%11.44%+67 bps
Liquidity & Funding
Loans / Deposits66.71%72.64%65.67%68.99%71.40%+469 bps
Liquid Assets / Assets4.48%2.17%7.12%2.39%0.67%-381 bps
CRE / Total Capitaln/an/an/an/an/an/an/a