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Centennial National Bank

Walker, MN · Cert 34305

FDIC

Q1 2006

$43.7MAssets
$32.2MLoans
$32.7MDeposits
$4.9MEquity
Loan mix
75%RE $12.6M25%C&I $4.1M0%Consumer $0.1MQ1 2005Q1 2006
Deposit mix
87%Interest-bearing $28.4M13%Noninterest $4.3MQ1 2005Q1 2006

NIM

6.10%Q1 ’045.73%Q1 ’056.13%Q1 ’06-4%-9%

Non-interest income vs. expense

3.51%Q1 ’044.27%Q1 ’053.98%Q1 ’06+4%+7%

Executive Summary

  • Earnings: ROA of 0.15%, up 23 bps year over year; NIM at 3.49%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.84%.
  • Funding: loans stand at 98.42% of deposits as of Q1 2006.

Financial Results

Return on Assets (quarter, annualized)

0.15%+23 bps YoY

Net Interest Margin (quarter, annualized)

3.49%-36 bps YoY

Efficiency Ratio (quarter, annualized)

94.63%+926 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2005Q2 2005Q3 2005Q4 2005Q1 2006YoY ΔTrend
Earnings
Return on Assets-0.08%-2.68%0.46%-1.62%0.15%+23 bps
Return on Equity-0.75%-23.38%3.78%-14.11%1.32%+206 bps
Net Interest Margin3.86%-1.86%4.17%3.84%3.49%-36 bps
Efficiency Ratio85.38%129.71%85.80%136.13%94.63%+926 bps
Non-Interest Burden3.13%-0.47%3.57%5.45%3.35%+22 bps
Growth
Asset Growth (YoY)-3.50%-4.34%5.28%4.86%5.70%+921 bps
Loan Growth (YoY)-9.03%-15.15%-1.27%6.90%14.46%+2,349 bps
Deposit Growth (YoY)2.52%-5.56%-0.02%-6.91%-3.03%-555 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%1.53%1.03%0.17%0.84%+77 bps
Allowance / Loans2.29%2.10%1.58%1.50%1.25%-104 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 Capital14.14%16.45%14.90%14.07%14.00%-14 bps
Equity / Assets10.31%12.68%11.60%11.36%11.11%+81 bps
Liquidity & Funding
Loans / Deposits83.37%83.11%90.92%101.32%98.42%+1,505 bps
Liquid Assets / Assets0.57%0.55%0.53%0.45%0.09%-48 bps
CRE / Total Capitaln/an/an/an/an/an/an/a