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Magic Valley Bank

Twin Falls, ID · Cert 34555

FDIC

Q3 2004

$80.0MAssets
$67.8MLoans
$68.2MDeposits
$7.5MEquity
Loan mix
32%RE $11.6M67%C&I $24.3M1%Consumer $0.4MQ3 2003Q3 2004
Deposit mix
79%Interest-bearing $53.6M21%Noninterest $14.6MQ3 2003Q3 2004

NIM

6.20%Q3 ’026.81%Q3 ’035.78%Q3 ’04+33%-15%

Non-interest income vs. expense

4.21%Q3 ’024.22%Q3 ’034.26%Q3 ’04+17%-14%

Executive Summary

  • Earnings: ROA of 0.96%, down 1 bps year over year; NIM at 4.67%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.20%.
  • Funding: loans stand at 99.46% of deposits as of Q3 2004.

Financial Results

Return on Assets (YTD, annualized)

0.96%-1 bps YoY

Net Interest Margin (YTD, annualized)

4.67%-81 bps YoY

Efficiency Ratio (YTD, annualized)

74.66%+349 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets0.97%0.88%0.98%0.92%0.96%-1 bps
Return on Equity9.90%9.19%10.64%10.04%10.43%+53 bps
Net Interest Margin5.48%5.36%4.90%4.68%4.67%-81 bps
Efficiency Ratio71.17%73.66%72.38%75.29%74.66%+349 bps
Non-Interest Burden3.76%3.83%3.26%3.25%3.22%-54 bps
Growth
Asset Growth (YoY)11.20%22.54%12.58%13.64%19.10%+790 bps
Loan Growth (YoY)19.30%21.89%26.57%19.89%25.08%+577 bps
Deposit Growth (YoY)9.28%21.42%10.49%15.60%19.09%+981 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.19%0.17%-0.01%-0.03%-0.20%-40 bps
Allowance / Loans1.54%1.40%1.40%1.32%1.37%-17 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 Capital12.69%13.26%12.83%11.88%11.27%-141 bps
Equity / Assets10.00%8.70%9.69%9.25%9.35%-65 bps
Liquidity & Funding
Loans / Deposits94.70%85.29%93.45%95.15%99.46%+476 bps
Liquid Assets / Assets2.32%1.99%2.10%1.74%1.32%-100 bps
CRE / Total Capitaln/an/an/an/an/an/an/a