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Pella State Bank

Pella, IA · Cert 34600

FDIC

Q4 2005

$62.8MAssets
$39.9MLoans
$49.5MDeposits
$5.3MEquity
Loan mix
63%RE $11.5M37%C&I $6.6M0%Consumer $0.0MQ4 2004Q4 2005
Deposit mix
92%Interest-bearing $45.7M8%Noninterest $3.8MQ4 2004Q4 2005

NIM

6.34%Q4 ’036.25%Q4 ’045.83%Q4 ’05-2%-23%

Non-interest income vs. expense

2.78%Q4 ’032.44%Q4 ’042.06%Q4 ’05-18%-17%

Executive Summary

  • Earnings: ROA of 0.82%, down 3 bps year over year; NIM at 3.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.29%.
  • Funding: loans stand at 80.50% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

0.82%-3 bps YoY

Net Interest Margin (quarter, annualized)

3.09%-93 bps YoY

Efficiency Ratio (quarter, annualized)

60.00%+460 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets0.85%1.09%0.97%0.72%0.82%-3 bps
Return on Equity9.95%13.40%11.95%8.68%9.77%-18 bps
Net Interest Margin4.02%4.43%4.13%3.13%3.09%-93 bps
Efficiency Ratio55.40%46.84%54.16%61.84%60.00%+460 bps
Non-Interest Burden2.05%1.91%2.10%1.81%1.71%-34 bps
Growth
Asset Growth (YoY)14.71%9.36%5.60%3.02%-7.29%-2,200 bps
Loan Growth (YoY)29.70%29.58%18.31%13.09%0.28%-2,941 bps
Deposit Growth (YoY)13.98%9.83%-0.10%-3.04%-15.79%-2,977 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.90%1.23%0.74%0.45%0.29%-60 bps
Allowance / Loans1.64%1.67%1.65%1.66%1.74%+10 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 Capital12.63%12.45%12.23%12.42%12.67%+4 bps
Equity / Assets8.20%8.13%8.17%8.36%8.48%+29 bps
Liquidity & Funding
Loans / Deposits67.59%71.27%75.57%75.83%80.50%+1,290 bps
Liquid Assets / Assets3.42%3.46%3.44%3.58%3.67%+24 bps
CRE / Total Capitaln/an/an/an/an/an/an/a