PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Wells Fargo Financial Bank

Sioux Falls, SD · Cert 26983

FDIC

Q4 2008

$6.3BAssets
$6.4BLoans
$185.9MDeposits
$924.9MEquity
Deposit mix
99%Interest-bearing $184.1M1%Noninterest $1.9MQ4 2007Q4 2008

NIM

14.23%Q4 ’0616.43%Q4 ’0716.64%Q4 ’08+20%+15%

Non-interest income vs. expense

2.14%Q4 ’061.83%Q4 ’072.45%Q4 ’08-61%+455%

Executive Summary

  • Earnings: ROA of -2.05%, down 571 bps year over year; NIM at 14.67%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 8.91%.
  • Funding: loans stand at 3454.23% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

-2.05%-571 bps YoY

Net Interest Margin (YTD, annualized)

14.67%+189 bps YoY

Efficiency Ratio (YTD, annualized)

14.98%+230 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets3.66%3.36%1.81%1.22%-2.05%-571 bps
Return on Equity25.10%23.82%12.85%8.84%-14.61%-3,970 bps
Net Interest Margin12.78%15.12%14.77%14.59%14.67%+189 bps
Efficiency Ratio12.67%13.85%14.72%14.75%14.98%+230 bps
Non-Interest Burden0.14%0.47%0.61%0.66%0.75%+62 bps
Growth
Asset Growth (YoY)38.04%37.40%30.15%20.12%11.07%-2,697 bps
Loan Growth (YoY)41.09%38.77%33.29%26.05%18.39%-2,270 bps
Deposit Growth (YoY)3.89%4.00%-17.38%-17.68%-18.42%-2,230 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans5.05%7.83%8.28%8.13%8.91%+386 bps
Allowance / Loans7.01%7.38%8.33%9.20%14.06%+705 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 Capital18.68%19.10%18.67%17.86%16.21%-247 bps
Equity / Assets13.86%14.37%13.94%13.27%14.69%+83 bps
Liquidity & Funding
Loans / Deposits2380%2424%3137%3347%3454%+107,384 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a