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Wolverine Bank, F.S.B.

Midland, MI · Cert 28918

FDIC · 3 branches

Q3 2017

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q3 2017, the quarter ended September 30, 2017, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Wolverine Bank, F.S.B.

Midland, MI · Cert 28918

FDIC · 3 branches

Q3 2017

$385.5MAssets
$317.1MLoans
$272.1MDeposits
$64.1MEquity
Loan mix
93%RE $196.3M7%C&I $14.7M0%Consumer $0.9MQ3 2016Q3 2017
Deposit mix
90%Interest-bearing $245.8M10%Noninterest $26.3MQ3 2016Q3 2017

NIM

4.43%Q3 ’154.60%Q3 ’165.07%Q3 ’17+3%+13%

Non-interest income vs. expense

2.06%Q3 ’151.98%Q3 ’162.20%Q3 ’17+0%+15%

Market Position · Midland, MI · 2017 SOD (annual) · 11.5% share · #2 of 7 inst. · $0.2B of $2.0B

11.5% Midland
1.6% Saginaw

Executive Summary

  • Earnings: ROA of 1.86%, up 58 bps year over year; NIM at 4.01%.
  • Asset quality: problem loans at 1.28% of loans (+128 bps YoY), with net recoveries of 0.33%.
  • Capital: tier 1 leverage ratio of 17.43%, up 41 bps from a year ago.
  • Funding: loans stand at 116.55% of deposits as of Q3 2017.

Financial Results

Return on Assets (YTD, annualized)

1.86%+58 bps YoY

Net Interest Margin (YTD, annualized)

4.01%+45 bps YoY

Efficiency Ratio (YTD, annualized)

52.50%+13 bps YoY

Tier 1 Leverage Ratio

17.43%+41 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2016Q4 2016Q1 2017Q2 2017Q3 2017YoY ΔTrend
Earnings
Return on Assets1.28%1.17%1.42%1.74%1.86%+58 bps
Return on Equity8.02%7.52%9.37%11.24%11.82%+380 bps
Net Interest Margin3.57%3.54%3.42%3.68%4.01%+45 bps
Efficiency Ratio52.37%53.24%51.52%54.68%52.50%+13 bps
Non-Interest Burden1.76%1.78%1.70%1.92%2.02%+26 bps
Growth
Asset Growth (YoY)7.76%3.92%-1.56%2.29%4.12%-364 bps
Loan Growth (YoY)2.31%1.51%-3.02%-6.07%-2.47%-478 bps
Deposit Growth (YoY)10.46%-0.06%-1.25%-0.69%5.83%-463 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%1.53%1.39%1.28%+128 bps
Net Charge-Offs / Loans-0.01%-0.01%-0.01%-0.01%-0.33%-33 bps
Allowance / Loans2.87%2.82%2.69%2.27%2.29%-57 bps
Allowance Coverage of NPLsn/an/a1.8x1.6x1.8xn/a
Capital
Tier 1 Leverage Ratio17.02%16.24%16.64%16.98%17.43%+41 bps
Total Risk-Based Capital23.78%21.41%22.61%21.54%22.90%-88 bps
Equity / Assets17.34%14.06%16.49%15.97%16.62%-73 bps
Liquidity & Funding
Loans / Deposits126.46%115.89%118.86%121.10%116.55%-991 bps
Liquid Assets / Assets11.54%23.64%13.79%15.59%14.90%+336 bps
CRE / Total Capitaln/an/an/an/an/an/an/a