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Letter portraitLegal landscapeQuarterYTD

Citizens National Bank of Akron, The

Akron, CO · Cert 2992

FDIC

Q3 2009

$47.0MAssets
$31.8MLoans
$37.1MDeposits
$8.9MEquity
Loan mix
92%RE $16.3M7%C&I $1.3M1%Consumer $0.2MQ3 2008Q3 2009
Deposit mix
85%Interest-bearing $31.7M15%Noninterest $5.4MQ3 2008Q3 2009

NIM

6.18%Q3 ’075.67%Q3 ’085.47%Q3 ’09+7%+5%

Non-interest income vs. expense

2.66%Q3 ’072.69%Q3 ’082.76%Q3 ’09+2%-4%

Executive Summary

  • Earnings: ROA of 1.31%, up 13 bps year over year; NIM at 4.08%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 85.54% of deposits as of Q3 2009.

Financial Results

Return on Assets (quarter, annualized)

1.31%+13 bps YoY

Net Interest Margin (quarter, annualized)

4.08%+20 bps YoY

Efficiency Ratio (quarter, annualized)

60.98%-366 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2008Q4 2008Q1 2009Q2 2009Q3 2009YoY ΔTrend
Earnings
Return on Assets1.18%1.16%1.13%0.88%1.31%+13 bps
Return on Equity6.75%6.45%6.03%4.78%7.13%+38 bps
Net Interest Margin3.87%4.01%4.05%3.85%4.08%+20 bps
Efficiency Ratio64.63%65.71%64.52%70.19%60.98%-366 bps
Non-Interest Burden2.40%2.55%2.55%2.65%2.31%-9 bps
Growth
Asset Growth (YoY)6.08%1.88%-6.07%1.59%0.10%-599 bps
Loan Growth (YoY)4.70%5.54%9.43%4.28%5.01%+30 bps
Deposit Growth (YoY)5.57%-3.54%-8.75%1.03%1.80%-377 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.04%0.01%0.00%0.00%-3 bps
Allowance / Loans1.24%1.23%1.26%1.25%1.24%0 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 Capital26.02%26.47%28.82%27.89%28.09%+207 bps
Equity / Assets17.55%18.27%19.06%17.95%18.87%+132 bps
Liquidity & Funding
Loans / Deposits82.93%85.50%84.17%79.65%85.54%+261 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