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Valley State Bank

Guttenberg, IA · Cert 34224

FDIC

Q4 2006

$34.5MAssets
$25.7MLoans
$25.9MDeposits
$2.5MEquity
Deposit mix
91%Interest-bearing $23.6M9%Noninterest $2.3MQ1 2005Q4 2006

Executive Summary

  • Earnings: ROA of 0.91%, up 2 bps year over year; NIM at 2.72%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.02%.
  • Funding: loans stand at 99.22% of deposits as of Q4 2006.

Return on Assets (YTD, annualized)

0.91%+2 bps YoY

Net Interest Margin (YTD, annualized)

2.72%-2 bps YoY

Efficiency Ratio (YTD, annualized)

55.23%-4 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

5.17%Q4 ’045.31%Q4 ’055.86%Q4 ’06+0%-1%

Non-interest income vs. expense

1.89%Q4 ’041.71%Q4 ’051.75%Q4 ’06-21%-4%

Year to date, annualized, through each quarter.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets0.86%0.89%0.89%0.90%0.87%0.89%0.90%0.91%+2 bps
Return on Equity11.18%11.46%11.50%11.52%11.23%11.63%11.85%12.19%+67 bps
Net Interest Margin2.88%2.84%2.79%2.74%2.81%2.77%2.75%2.72%-2 bps
Efficiency Ratio56.33%55.48%55.57%55.27%55.78%56.11%55.57%55.23%-4 bps
Non-Interest Burden1.49%1.43%1.40%1.36%1.40%1.35%1.34%1.30%-6 bps
Growth
Asset Growth (YoY)6.66%6.09%10.81%9.61%11.07%10.47%11.47%11.46%+184 bps
Loan Growth (YoY)20.48%15.27%19.64%17.07%12.36%20.56%16.45%9.12%-796 bps
Deposit Growth (YoY)0.58%2.42%6.34%4.04%8.69%7.69%11.10%14.13%+1,009 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%-0.01%0.05%0.03%-0.10%-0.05%-0.03%-0.02%-6 bps
Allowance / Loans0.77%0.80%0.73%0.72%0.72%0.70%0.71%0.74%+2 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital12.45%12.88%13.01%12.81%12.11%11.64%11.52%11.72%-108 bps
Equity / Assets7.67%7.82%7.80%7.91%7.59%7.50%7.30%7.21%-70 bps
Liquidity & Funding
Loans / Deposits100.16%95.93%99.06%103.79%103.55%107.40%103.83%99.22%-456 bps
Liquid Assets / Assets1.69%2.34%1.85%1.16%0.96%0.94%0.89%0.82%-34 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a