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Bankfirst

Sioux Falls, SD · Cert 34103

FDIC

Q2 2009

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q2 2009, the quarter ended June 30, 2009, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Bankfirst

Sioux Falls, SD · Cert 34103

FDIC

Q2 2009

$210.8MAssets
$153.6MLoans
$232.2MDeposits
$-24775KEquity
Loan mix
62%RE $74.9M38%C&I $45.9M0%Consumer $0.0MQ2 2008Q2 2009
Deposit mix
95%Interest-bearing $220.5M5%Noninterest $11.7MQ2 2008Q2 2009

NIM

7.69%Q2 ’074.10%Q2 ’083.22%Q2 ’09-70%-43%

Non-interest income vs. expense

8.41%Q2 ’075.42%Q2 ’088.51%Q2 ’09-57%+1042%

Executive Summary

  • Earnings: ROA of -44.12%, down 1,026 bps year over year; NIM at 0.81%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 46.06%.
  • Funding: loans stand at 66.15% of deposits as of Q2 2009.

Financial Results

Return on Assets (YTD, annualized)

-44.12%-1,026 bps YoY

Net Interest Margin (YTD, annualized)

0.81%-60 bps YoY

Efficiency Ratio (YTD, annualized)

n/a

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2008Q3 2008Q4 2008Q1 2009Q2 2009YoY ΔTrend
Earnings
Return on Assets-33.86%-27.01%-22.21%-19.98%-44.12%-1,026 bps
Return on Equity-163.69%-144.40%-127.77%-234%-1426%-126,280 bps
Net Interest Margin1.41%1.39%1.27%0.46%0.81%-60 bps
Efficiency Ratio107.23%150.54%165.97%n/an/an/a
Non-Interest Burden1.83%3.75%4.37%13.02%20.92%+1,909 bps
Growth
Asset Growth (YoY)-36.06%-36.46%-33.57%-33.19%-39.11%-306 bps
Loan Growth (YoY)-24.07%-30.72%-31.32%-36.16%-48.59%-2,452 bps
Deposit Growth (YoY)-35.41%-35.18%-16.21%-16.63%-22.71%+1,270 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans8.08%17.23%20.34%20.92%46.06%+3,799 bps
Allowance / Loans25.81%22.39%18.56%18.38%25.18%-64 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 Capital16.63%14.61%13.51%8.68%-14.69%-3,133 bps
Equity / Assets12.14%11.20%10.62%6.29%-11.75%-2,389 bps
Liquidity & Funding
Loans / Deposits99.45%91.07%88.19%79.37%66.15%-3,330 bps
Liquid Assets / Assets0.06%0.03%4.48%10.09%14.93%+1,488 bps
CRE / Total Capitaln/an/an/an/an/an/an/a