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Midwestone Bank

Burlington, IA · Cert 28495

FDIC

Q4 2005

$181.3MAssets
$128.9MLoans
$120.5MDeposits
$19.9MEquity
Loan mix
80%RE $68.8M20%C&I $17.6M0%Consumer $0.1MQ4 2004Q4 2005
Deposit mix
95%Interest-bearing $114.8M5%Noninterest $5.7MQ4 2004Q4 2005

NIM

6.11%Q1 ’045.78%Q4 ’046.25%Q4 ’05-10%+5%

Non-interest income vs. expense

3.11%Q1 ’042.28%Q4 ’041.96%Q4 ’05-36%-22%

Executive Summary

  • Earnings: ROA of 1.16%, up 52 bps year over year; NIM at 3.38%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.29%.
  • Funding: loans stand at 106.99% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

1.16%+52 bps YoY

Net Interest Margin (quarter, annualized)

3.38%+17 bps YoY

Efficiency Ratio (quarter, annualized)

47.80%-1,143 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets0.64%0.76%0.81%0.64%1.16%+52 bps
Return on Equity5.66%6.71%7.10%5.60%10.32%+466 bps
Net Interest Margin3.21%3.87%3.94%3.15%3.38%+17 bps
Efficiency Ratio59.23%50.03%57.49%61.21%47.80%-1,143 bps
Non-Interest Burden1.77%1.80%2.12%1.82%1.38%-39 bps
Growth
Asset Growth (YoY)-2.37%-3.56%-2.18%-2.35%1.17%+354 bps
Loan Growth (YoY)5.84%2.16%-0.35%-2.19%-1.76%-761 bps
Deposit Growth (YoY)2.00%0.61%1.67%10.41%11.66%+966 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.11%1.13%0.60%0.38%0.29%-82 bps
Allowance / Loans0.88%0.96%1.00%1.07%1.05%+18 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 Capital13.76%14.22%14.22%14.22%13.70%-6 bps
Equity / Assets11.13%11.39%11.44%11.40%11.00%-13 bps
Liquidity & Funding
Loans / Deposits121.61%116.62%119.41%110.99%106.99%-1,462 bps
Liquid Assets / Assets0.96%0.98%0.94%0.89%0.86%-11 bps
CRE / Total Capitaln/an/an/an/an/an/an/a