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Letter portraitLegal landscapeQuarterYTD

U.S. Bank National Association ND

Fargo, ND · Cert 34590

FDIC

Q1 2013

$6.4BAssets
$6.2BLoans
$45.9MDeposits
$973.8MEquity
Loan mix
31%RE $1.9B43%C&I $2.7B26%Consumer $1.6BQ1 2012Q1 2013
Deposit mix
45%Interest-bearing $20.8M55%Noninterest $25.0MQ1 2012Q1 2013

NIM

4.65%Q1 ’114.68%Q1 ’124.48%Q1 ’13+2%-4%

Non-interest income vs. expense

5.61%Q1 ’115.80%Q1 ’125.28%Q1 ’13+80%-267%

Executive Summary

  • Earnings: ROA of 2.22%, up 34 bps year over year; NIM at 4.34%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.32%.
  • Funding: loans stand at 13585.86% of deposits as of Q1 2013.

Financial Results

Return on Assets (quarter, annualized)

2.22%+34 bps YoY

Net Interest Margin (quarter, annualized)

4.34%-20 bps YoY

Efficiency Ratio (quarter, annualized)

50.95%-345 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2012Q2 2012Q3 2012Q4 2012Q1 2013YoY ΔTrend
Earnings
Return on Assets1.87%2.33%2.96%2.35%2.22%+34 bps
Return on Equity14.25%17.49%21.38%16.05%14.58%+33 bps
Net Interest Margin4.54%4.30%4.35%4.35%4.34%-20 bps
Efficiency Ratio54.40%51.41%43.28%49.88%50.95%-345 bps
Non-Interest Burden-0.17%-0.83%-1.80%-0.86%-0.64%-47 bps
Growth
Asset Growth (YoY)7.80%6.10%4.17%3.66%2.00%-581 bps
Loan Growth (YoY)7.32%5.87%3.94%3.35%1.62%-570 bps
Deposit Growth (YoY)-4.83%3.86%4.94%-3.95%-5.82%-99 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.47%1.49%1.69%1.59%1.32%-15 bps
Allowance / Loans3.23%3.19%3.10%3.24%3.14%-9 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 Capital16.17%16.66%17.47%18.76%18.67%+250 bps
Equity / Assets13.13%13.53%14.20%15.10%15.32%+219 bps
Liquidity & Funding
Loans / Deposits12591%12545%12953%11639%13586%+99,471 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a