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First American Bank & Trust

Madison, SD · Cert 27078

FDIC · 7 branches

Q3 2020

$1.2BAssets
$926.2MLoans
$991.2MDeposits
$130.7MEquity
Loan mix
56%RE $376.4M42%C&I $284.3M2%Consumer $11.8MQ3 2019Q3 2020
Deposit mix
75%Interest-bearing $741.3M25%Noninterest $249.8MQ3 2019Q3 2020

NIM

5.52%Q3 ’185.39%Q3 ’194.59%Q3 ’20-10%-8%

Non-interest income vs. expense

3.74%Q3 ’183.56%Q3 ’193.25%Q3 ’20-9%-23%

Market Position · Sioux Falls, SD · 2020 SOD (annual) · 0.1% share · #7 of 38 inst. · $0.8B of $771.7B

0.2% Minnehaha
52.6% Lake
0.0% Lincoln
2.2% Codington

Executive Summary

  • Earnings: ROA of 1.47%, up 9 bps year over year; NIM at 4.09%.
  • Asset quality: problem loans at 2.07% of loans (+56 bps YoY), with net charge-offs at 0.14%.
  • Capital: tier 1 leverage ratio of 9.90%, down 82 bps from a year ago.
  • Funding: loans stand at 93.44% of deposits as of Q3 2020.

Financial Results

Return on Assets (YTD, annualized)

1.47%+9 bps YoY

Net Interest Margin (YTD, annualized)

4.09%-34 bps YoY

Efficiency Ratio (YTD, annualized)

57.58%-434 bps YoY

Tier 1 Leverage Ratio

9.90%-82 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2019Q4 2019Q1 2020Q2 2020Q3 2020YoY ΔTrend
Earnings
Return on Assets1.38%1.39%1.28%1.29%1.47%+9 bps
Return on Equity11.54%11.57%10.42%10.66%12.40%+86 bps
Net Interest Margin4.44%4.40%4.30%4.06%4.09%-34 bps
Efficiency Ratio61.92%60.94%63.16%59.14%57.58%-434 bps
Non-Interest Burden2.38%2.32%2.39%1.97%1.84%-54 bps
Growth
Asset Growth (YoY)11.54%4.48%9.83%13.56%13.50%+196 bps
Loan Growth (YoY)1.23%4.22%10.00%11.29%16.58%+1,535 bps
Deposit Growth (YoY)12.33%4.01%9.25%13.85%12.22%-10 bps
Asset Quality
Nonperforming Loans / Loans1.51%1.33%1.05%2.25%2.07%+56 bps
Net Charge-Offs / Loans0.12%0.18%0.07%0.16%0.14%+2 bps
Allowance / Loans1.28%1.27%1.25%1.39%1.36%+9 bps
Allowance Coverage of NPLs0.8x1.0x1.2x0.6x0.7x-0.2x
Capital
Tier 1 Leverage Ratio10.73%10.88%10.90%10.43%9.90%-82 bps
Total Risk-Based Capital13.66%13.90%10.90%10.43%9.90%-376 bps
Equity / Assets12.10%12.32%12.23%11.80%11.26%-84 bps
Liquidity & Funding
Loans / Deposits89.95%91.90%92.21%89.36%93.44%+349 bps
Liquid Assets / Assets2.31%2.29%1.25%3.28%1.14%-118 bps
CRE / Total Capitaln/an/an/an/an/an/an/a