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Waukee State Bank

Waukee, IA · Cert 34185

FDIC

Q2 2006

$54.5MAssets
$32.1MLoans
$44.9MDeposits
$5.4MEquity
Loan mix
67%RE $17.4M33%C&I $8.6M0%Consumer $0.0MQ2 2005Q2 2006
Deposit mix
82%Interest-bearing $37.0M18%Noninterest $7.9MQ2 2005Q2 2006

NIM

4.73%Q2 ’044.95%Q2 ’055.63%Q2 ’06+12%+0%

Non-interest income vs. expense

2.48%Q2 ’042.64%Q2 ’052.68%Q2 ’06+6%+2%

Executive Summary

  • Earnings: ROA of 0.68%, down 2 bps year over year; NIM at 3.12%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 71.51% of deposits as of Q2 2006.

Financial Results

Return on Assets (YTD, annualized)

0.68%-2 bps YoY

Net Interest Margin (YTD, annualized)

3.12%0 bps YoY

Efficiency Ratio (YTD, annualized)

71.79%+100 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets0.70%0.68%0.70%0.61%0.68%-2 bps
Return on Equity7.64%7.36%7.47%6.44%7.06%-58 bps
Net Interest Margin3.11%3.16%3.08%3.07%3.12%0 bps
Efficiency Ratio70.79%73.43%73.55%74.31%71.79%+100 bps
Non-Interest Burden2.02%2.18%2.12%2.13%2.06%+4 bps
Growth
Asset Growth (YoY)-0.25%3.41%-3.15%2.53%-1.58%-133 bps
Loan Growth (YoY)-6.46%-9.59%-9.32%-7.12%-8.20%-174 bps
Deposit Growth (YoY)2.34%9.20%-0.21%4.98%6.98%+464 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.29%0.20%0.21%-0.01%-0.01%-30 bps
Allowance / Loans1.09%1.04%0.94%0.96%1.02%-7 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 Capital16.01%16.61%16.58%16.67%17.44%+143 bps
Equity / Assets9.46%9.56%9.61%9.45%9.88%+43 bps
Liquidity & Funding
Loans / Deposits83.34%79.72%78.58%75.94%71.51%-1,183 bps
Liquid Assets / Assets4.16%4.23%4.17%4.22%4.26%+10 bps
CRE / Total Capitaln/an/an/an/an/an/an/a