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First State Bank

Italy, TX · Cert 3272

FDIC

Q3 2005

$12.3MAssets
$9.0MLoans
$10.7MDeposits
$1.6MEquity
Deposit mix
63%Interest-bearing $6.8M37%Noninterest $4.0MQ3 2004Q3 2005

NIM

5.08%Q3 ’035.56%Q3 ’0415.82%Q3 ’05+24%+177%

Non-interest income vs. expense

4.80%Q3 ’034.90%Q3 ’0413.00%Q3 ’05+10%+169%

Executive Summary

  • Earnings: ROA of -1.95%, down 175 bps year over year; NIM at 11.72%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.22%.
  • Funding: loans stand at 84.32% of deposits as of Q3 2005.

Financial Results

Return on Assets (quarter, annualized)

-1.95%-175 bps YoY

Net Interest Margin (quarter, annualized)

11.72%+748 bps YoY

Efficiency Ratio (quarter, annualized)

101.62%-261 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005YoY ΔTrend
Earnings
Return on Assets-0.20%-0.40%-1.10%1.20%-1.95%-175 bps
Return on Equity-2.59%-5.03%-14.09%11.11%-14.68%-1,209 bps
Net Interest Margin4.24%4.03%4.15%-4.13%11.72%+748 bps
Efficiency Ratio104.23%106.62%121.97%60.00%101.62%-261 bps
Non-Interest Burden4.44%4.33%5.14%-5.23%11.93%+749 bps
Growth
Asset Growth (YoY)-3.76%-7.01%-12.24%-6.38%2.53%+629 bps
Loan Growth (YoY)9.05%15.83%2.68%14.03%38.27%+2,922 bps
Deposit Growth (YoY)-3.17%-7.70%-12.31%-13.29%-2.88%+29 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.18%0.11%0.00%-0.17%0.22%+40 bps
Allowance / Loans1.02%0.96%1.10%1.06%0.83%-20 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 Capital17.27%17.34%17.84%14.10%16.48%-79 bps
Equity / Assets7.99%7.84%7.83%13.70%12.83%+484 bps
Liquidity & Funding
Loans / Deposits59.22%67.57%63.21%73.35%84.32%+2,509 bps
Liquid Assets / Assets19.41%17.74%19.19%13.41%12.51%-690 bps
CRE / Total Capitaln/an/an/an/an/an/an/a