Valley State Bank

Eldridge, IA · Cert 33828

FDIC

Q4 2001

$223.4MAssets

$149.1MLoans

$164.0MDeposits

$17.4MEquity

Loan mix

Deposit mix

Executive Summary

Earnings: ROA of 0.85%, up 2 bps year over year; NIM at 3.25%.
Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.64%.
Funding: loans stand at 90.92% of deposits as of Q4 2001.

Return on Assets (quarter, annualized)

0.85%+2 bps YoY

Net Interest Margin (quarter, annualized)

3.25%

Efficiency Ratio (quarter, annualized)

71.52%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

Metric	Q1 2000	Q2 2000	Q3 2000	Q4 2000	Q1 2001	Q2 2001	Q3 2001	Q4 2001	YoY Δ	Trend
Earnings
Return on Assets	0.84%	0.91%	0.86%	0.83%	0.82%	0.76%	0.86%	0.85%	+2 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	9.39%	10.66%	10.72%	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	2.73%	2.93%	3.37%	3.25%	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	57.21%	62.18%	63.01%	71.52%	n/a
Non-Interest Burden	n/a	n/a	n/a	n/a	1.11%	1.32%	1.63%	1.81%	n/a
Growth
Asset Growth (YoY)	27.48%	23.00%	20.26%	27.06%	30.89%	29.49%	27.02%	20.45%	-661 bps
Loan Growth (YoY)	40.90%	27.86%	22.98%	24.92%	23.68%	26.24%	17.71%	22.62%	-230 bps
Deposit Growth (YoY)	16.21%	7.74%	20.79%	18.13%	26.76%	27.91%	24.25%	19.23%	+110 bps
Asset Quality
Nonperforming Loans / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	0.00%	1.29%	0.04%	0.64%	n/a
Allowance / Loans	n/a	n/a	n/a	n/a	1.05%	0.94%	1.12%	1.07%	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	n/a	n/a	n/a	n/a	12.60%	12.31%	12.16%	11.53%	n/a
Equity / Assets	n/a	n/a	n/a	n/a	8.12%	8.04%	8.01%	7.78%	n/a
Liquidity & Funding
Loans / Deposits	91.19%	91.94%	88.58%	88.41%	88.97%	90.74%	83.92%	90.92%	+251 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.02%	0.01%	0.01%	0.01%	+1 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a