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Wabasha County Bank

Wabasha, MN · Cert 34568

FDIC

Q4 2003

$20.2MAssets
$11.9MLoans
$16.4MDeposits
$3.7MEquity
Loan mix
88%RE $5.6M12%C&I $0.8M0%Consumer $0.0MQ4 2002Q4 2003
Deposit mix
89%Interest-bearing $14.6M11%Noninterest $1.8MQ4 2002Q4 2003

NIM

6.96%Q4 ’016.06%Q4 ’024.99%Q4 ’03+14%-11%

Non-interest income vs. expense

1.55%Q4 ’011.50%Q4 ’021.49%Q4 ’03-9%+22%

Executive Summary

  • Earnings: ROA of 2.50%, down 7 bps year over year; NIM at 3.53%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 72.26% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

2.50%-7 bps YoY

Net Interest Margin (YTD, annualized)

3.53%-42 bps YoY

Efficiency Ratio (YTD, annualized)

38.10%+505 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets2.58%2.69%2.62%2.38%2.50%-7 bps
Return on Equity15.57%15.48%15.13%13.72%14.27%-130 bps
Net Interest Margin3.95%3.51%3.71%3.54%3.53%-42 bps
Efficiency Ratio33.05%30.98%37.84%41.57%38.10%+505 bps
Non-Interest Burden0.91%0.81%1.16%1.24%1.10%+20 bps
Growth
Asset Growth (YoY)-1.52%8.29%10.35%13.17%12.14%+1,366 bps
Loan Growth (YoY)1.93%-3.01%-8.34%-11.94%0.10%-183 bps
Deposit Growth (YoY)-4.48%7.35%9.69%13.54%11.65%+1,614 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.79%0.00%-0.02%-0.01%-0.01%-80 bps
Allowance / Loans1.17%1.19%1.28%1.28%1.18%+1 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 Capital29.78%29.55%31.54%33.21%32.81%+302 bps
Equity / Assets17.83%16.97%17.11%17.42%18.34%+51 bps
Liquidity & Funding
Loans / Deposits80.60%71.91%65.60%65.13%72.26%-834 bps
Liquid Assets / Assets25.26%26.74%33.23%41.60%37.42%+1,216 bps
CRE / Total Capitaln/an/an/an/an/an/an/a