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First Western Bank Sturgis, The

Sturgis, SD · Cert 26773

FDIC

Q2 2009

$519.9MAssets
$351.8MLoans
$396.5MDeposits
$112.7MEquity
Loan mix
78%RE $179.1M22%C&I $50.9M0%Consumer $0.8MQ2 2008Q2 2009
Deposit mix
84%Interest-bearing $335.0M16%Noninterest $61.5MQ2 2008Q2 2009

NIM

7.18%Q2 ’075.69%Q2 ’084.93%Q2 ’09-11%-10%

Non-interest income vs. expense

2.09%Q2 ’072.32%Q2 ’082.35%Q2 ’09+19%+1%

Executive Summary

  • Earnings: ROA of 0.82%, down 55 bps year over year; NIM at 3.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.31%.
  • Funding: loans stand at 88.73% of deposits as of Q2 2009.

Financial Results

Return on Assets (YTD, annualized)

0.82%-55 bps YoY

Net Interest Margin (YTD, annualized)

3.35%-39 bps YoY

Efficiency Ratio (YTD, annualized)

54.50%+628 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2008Q3 2008Q4 2008Q1 2009Q2 2009YoY ΔTrend
Earnings
Return on Assets1.38%1.09%0.74%0.87%0.82%-55 bps
Return on Equity7.28%5.48%3.67%3.95%3.77%-351 bps
Net Interest Margin3.74%3.64%3.43%3.29%3.35%-39 bps
Efficiency Ratio48.22%49.61%50.33%52.80%54.50%+628 bps
Non-Interest Burden1.68%1.70%1.59%1.65%1.71%+2 bps
Growth
Asset Growth (YoY)22.51%21.55%23.65%6.94%7.46%-1,506 bps
Loan Growth (YoY)5.69%6.65%11.14%6.02%2.65%-304 bps
Deposit Growth (YoY)3.29%3.12%5.69%8.95%8.33%+504 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.03%0.81%0.58%0.31%+26 bps
Allowance / Loans1.81%2.12%2.08%2.09%2.22%+41 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 Capital12.12%11.94%12.42%14.01%13.83%+171 bps
Equity / Assets23.05%22.48%21.77%22.16%21.68%-136 bps
Liquidity & Funding
Loans / Deposits93.63%92.95%89.83%89.26%88.73%-491 bps
Liquid Assets / Assets0.05%0.04%0.06%0.08%0.05%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a