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State Bank of Moorhead

Moorhead, MN · Cert 34349

FDIC

Q2 2003

$129.9MAssets
$112.1MLoans
$118.5MDeposits
$10.2MEquity
Loan mix
57%RE $30.3M42%C&I $22.5M1%Consumer $0.3MQ2 2002Q2 2003
Deposit mix
86%Interest-bearing $102.0M14%Noninterest $16.5MQ2 2002Q2 2003

NIM

7.42%Q2 ’016.25%Q2 ’025.40%Q2 ’03+8%-3%

Non-interest income vs. expense

2.07%Q2 ’011.93%Q2 ’021.87%Q2 ’03-5%-16%

Executive Summary

  • Earnings: ROA of 1.36%, up 13 bps year over year; NIM at 3.66%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 94.57% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

1.36%+13 bps YoY

Net Interest Margin (quarter, annualized)

3.66%-10 bps YoY

Efficiency Ratio (quarter, annualized)

44.49%-237 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets1.22%1.20%1.40%1.20%1.36%+13 bps
Return on Equity15.97%15.38%17.50%14.44%16.55%+58 bps
Net Interest Margin3.76%4.02%3.85%3.64%3.66%-10 bps
Efficiency Ratio46.85%42.49%44.85%47.20%44.49%-237 bps
Non-Interest Burden1.57%1.48%1.42%1.47%1.32%-25 bps
Growth
Asset Growth (YoY)15.61%17.40%11.47%11.10%9.66%-595 bps
Loan Growth (YoY)19.65%23.84%15.91%13.00%13.65%-600 bps
Deposit Growth (YoY)16.13%12.63%10.46%10.18%9.75%-638 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.03%0.06%0.00%0.04%+5 bps
Allowance / Loans1.22%1.28%1.35%1.35%1.27%+5 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 Capital10.16%10.40%11.15%11.41%10.41%+25 bps
Equity / Assets7.71%7.83%8.15%8.51%7.88%+17 bps
Liquidity & Funding
Loans / Deposits91.33%95.75%87.29%90.62%94.57%+324 bps
Liquid Assets / Assets0.48%0.38%0.31%0.23%0.17%-31 bps
CRE / Total Capitaln/an/an/an/an/an/an/a