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First State Bank, Southwest Indiana

Tell City, IN · Cert 33949

FDIC

Q2 2006

$110.3MAssets
$81.5MLoans
$97.2MDeposits
$11.5MEquity
Loan mix
74%RE $43.1M26%C&I $15.3M0%Consumer $0.1MQ2 2005Q2 2006
Deposit mix
90%Interest-bearing $87.4M10%Noninterest $9.7MQ2 2005Q2 2006

NIM

5.33%Q2 ’045.12%Q2 ’056.08%Q2 ’06-13%+5%

Non-interest income vs. expense

2.59%Q2 ’042.10%Q2 ’052.42%Q2 ’06-28%+20%

Executive Summary

  • Earnings: ROA of 1.19%, down 13 bps year over year; NIM at 3.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.20%.
  • Funding: loans stand at 83.85% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

1.19%-13 bps YoY

Net Interest Margin (quarter, annualized)

3.47%+16 bps YoY

Efficiency Ratio (quarter, annualized)

54.39%+389 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets1.32%1.18%0.97%1.04%1.19%-13 bps
Return on Equity16.01%13.85%9.41%9.32%11.25%-475 bps
Net Interest Margin3.32%3.48%3.39%3.46%3.47%+16 bps
Efficiency Ratio50.50%49.56%67.90%58.33%54.39%+389 bps
Non-Interest Burden1.26%1.28%2.12%1.76%1.51%+25 bps
Growth
Asset Growth (YoY)10.87%7.32%50.48%37.57%32.76%+2,189 bps
Loan Growth (YoY)-1.98%-3.23%44.17%43.19%46.19%+4,817 bps
Deposit Growth (YoY)11.67%11.88%53.86%38.69%31.04%+1,937 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.14%0.42%0.76%0.20%+12 bps
Allowance / Loans1.29%1.36%1.10%0.95%0.92%-38 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 Capital11.74%12.17%14.09%12.69%12.03%+29 bps
Equity / Assets8.34%8.78%11.47%10.78%10.38%+204 bps
Liquidity & Funding
Loans / Deposits75.16%76.93%82.56%82.35%83.85%+869 bps
Liquid Assets / Assets1.18%0.17%0.33%0.34%0.30%-88 bps
CRE / Total Capitaln/an/an/an/an/an/an/a