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Independence Federal Bank for Savings

Independence, IA · Cert 29427

FDIC

Q4 2013

$19.5MAssets
$10.6MLoans
$18.0MDeposits
$1.4MEquity
Deposit mix
100%Interest-bearing $18.0M0%Noninterest $0.0MQ4 2012Q4 2013

NIM

3.28%Q1 ’123.56%Q4 ’122.88%Q4 ’13+80%-9%

Non-interest income vs. expense

3.12%Q1 ’122.66%Q4 ’122.99%Q4 ’13-10%+6%

Executive Summary

  • Earnings: ROA of -1.57%, down 54 bps year over year; NIM at 1.37%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.07%.
  • Funding: loans stand at 58.71% of deposits as of Q4 2013.

Financial Results

Return on Assets (YTD, annualized)

-1.57%-54 bps YoY

Net Interest Margin (YTD, annualized)

1.37%-13 bps YoY

Efficiency Ratio (YTD, annualized)

210%+1,890 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2012Q1 2013Q2 2013Q3 2013Q4 2013YoY ΔTrend
Earnings
Return on Assets-1.02%-1.84%-1.61%-1.21%-1.57%-54 bps
Return on Equityn/a-22.23%-19.75%-15.39%-20.29%n/a
Net Interest Margin1.50%1.25%1.41%1.48%1.37%-13 bps
Efficiency Ratio191.50%237%209%177.73%210%+1,890 bps
Non-Interest Burden2.77%2.99%2.99%2.67%2.94%+16 bps
Growth
Asset Growth (YoY)-3.89%-14.42%-10.05%-7.00%-6.01%-212 bps
Loan Growth (YoY)-11.24%-12.41%-11.02%-1.74%1.39%+1,263 bps
Deposit Growth (YoY)-7.84%-4.05%-0.79%5.81%3.23%+1,107 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.14%0.09%0.07%+7 bps
Allowance / Loans1.49%1.50%1.46%1.38%1.41%-9 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 Capital22.30%23.05%22.78%21.08%20.40%-189 bps
Equity / Assets8.40%8.12%7.99%7.02%7.03%-137 bps
Liquidity & Funding
Loans / Deposits59.78%57.39%56.68%58.77%58.71%-107 bps
Liquid Assets / Assets1.82%2.41%2.42%1.76%0.37%-145 bps
CRE / Total Capitaln/an/an/an/an/an/an/a