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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

6.36%Q3 ’027.25%Q3 ’036.16%Q3 ’04+36%-17%

Non-interest income vs. expense

3.93%Q3 ’024.70%Q3 ’034.40%Q3 ’04+45%-20%

Executive Summary

  • Earnings: ROA of 1.04%, up 7 bps year over year; NIM at 5.00%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.54%.
  • Funding: loans stand at 99.46% of deposits as of Q3 2004.

Financial Results

Return on Assets (quarter, annualized)

1.04%+7 bps YoY

Net Interest Margin (quarter, annualized)

5.00%-102 bps YoY

Efficiency Ratio (quarter, annualized)

73.49%+75 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets0.97%0.66%0.98%0.89%1.04%+7 bps
Return on Equity9.90%7.14%10.64%9.41%11.21%+132 bps
Net Interest Margin6.02%5.46%4.90%4.82%5.00%-102 bps
Efficiency Ratio72.74%80.95%72.38%77.94%73.49%+75 bps
Non-Interest Burden4.25%4.34%3.26%3.48%3.41%-84 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 / Loans0.01%0.14%-0.01%-0.06%-0.54%-56 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