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Iowa Bank

Bellevue, IA · Cert 34694

FDIC

Q1 2010

$53.3MAssets
$39.2MLoans
$46.8MDeposits
$5.0MEquity
Loan mix
66%RE $15.5M34%C&I $8.1M0%Consumer $0.0MQ1 2009Q1 2010
Deposit mix
92%Interest-bearing $42.9M8%Noninterest $3.9MQ1 2009Q1 2010

NIM

6.40%Q1 ’085.62%Q1 ’094.89%Q1 ’10+1%-10%

Non-interest income vs. expense

2.69%Q1 ’082.86%Q1 ’092.77%Q1 ’10+13%-5%

Executive Summary

  • Earnings: ROA of -0.96%, down 170 bps year over year; NIM at 3.20%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 5.03%.
  • Funding: loans stand at 83.63% of deposits as of Q1 2010.

Financial Results

Return on Assets (quarter, annualized)

-0.96%-170 bps YoY

Net Interest Margin (quarter, annualized)

3.20%-35 bps YoY

Efficiency Ratio (quarter, annualized)

76.39%+405 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2009Q2 2009Q3 2009Q4 2009Q1 2010YoY ΔTrend
Earnings
Return on Assets0.74%0.71%1.08%-0.57%-0.96%-170 bps
Return on Equity7.28%6.96%10.54%-5.76%-9.94%-1,722 bps
Net Interest Margin3.55%3.59%3.95%3.14%3.20%-35 bps
Efficiency Ratio72.34%68.89%61.57%73.21%76.39%+405 bps
Non-Interest Burden2.46%2.30%2.21%2.15%2.34%-12 bps
Growth
Asset Growth (YoY)-2.67%2.25%7.51%6.75%7.08%+975 bps
Loan Growth (YoY)4.10%0.94%2.94%4.56%-6.35%-1,045 bps
Deposit Growth (YoY)-3.29%2.33%8.17%9.03%10.97%+1,426 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.00%0.01%0.26%5.03%+500 bps
Allowance / Loans0.61%0.68%0.70%1.25%1.01%+39 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 Capital10.74%10.90%11.05%11.45%11.42%+68 bps
Equity / Assets10.22%10.26%10.21%9.77%9.48%-74 bps
Liquidity & Funding
Loans / Deposits99.11%99.23%99.38%93.36%83.63%-1,548 bps
Liquid Assets / Assets1.58%3.45%6.48%8.25%13.06%+1,148 bps
CRE / Total Capitaln/an/an/an/an/an/an/a