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Southeast National Bank

Davenport, IA · Cert 35109

FDIC · 6 branches

Q3 2023

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q3 2023, the quarter ended September 30, 2023, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Southeast National Bank

Davenport, IA · Cert 35109

FDIC · 6 branches

Q3 2023

$331.6MAssets
$245.2MLoans
$273.2MDeposits
$25.5MEquity
Loan mix
83%RE $173.7M16%C&I $33.0M1%Consumer $2.0MQ3 2022Q3 2023
Deposit mix
77%Interest-bearing $210.7M23%Noninterest $62.6MQ3 2022Q3 2023

NIM

3.52%Q3 ’213.45%Q3 ’224.59%Q3 ’23+2%+15%

Non-interest income vs. expense

3.04%Q3 ’213.10%Q3 ’223.19%Q3 ’23+4%+5%

Market Position · Davenport-Moline-Rock Island, IA-IL · 2023 SOD (annual) · 2.1% share · #13 of 31 inst. · $0.2B of $10.0B

5.2% Rock Island
1.4% Scott
1.1% Rock
0.4% Winnebago

Executive Summary

  • Earnings: ROA of 1.10%, up 33 bps year over year; NIM at 3.76%.
  • Asset quality: problem loans at 0.29% of loans (-14 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 10.03%, up 80 bps from a year ago.
  • Funding: loans stand at 89.72% of deposits as of Q3 2023.

Financial Results

Return on Assets (YTD, annualized)

1.10%+33 bps YoY

Net Interest Margin (YTD, annualized)

3.76%+49 bps YoY

Efficiency Ratio (YTD, annualized)

69.22%-556 bps YoY

Tier 1 Leverage Ratio

10.03%+80 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2022Q4 2022Q1 2023Q2 2023Q3 2023YoY ΔTrend
Earnings
Return on Assets0.77%0.86%1.09%1.10%1.10%+33 bps
Return on Equity9.25%10.44%13.24%13.47%13.66%+441 bps
Net Interest Margin3.27%3.50%3.88%3.83%3.76%+49 bps
Efficiency Ratio74.78%72.70%68.86%69.17%69.22%-556 bps
Non-Interest Burden2.20%2.28%2.41%2.37%2.32%+12 bps
Growth
Asset Growth (YoY)-4.93%-9.69%-5.84%-5.32%-3.26%+168 bps
Loan Growth (YoY)-3.72%4.38%12.49%9.35%10.95%+1,467 bps
Deposit Growth (YoY)-0.04%-6.30%-4.45%-5.97%-2.89%-285 bps
Asset Quality
Nonperforming Loans / Loans0.43%0.42%0.39%0.36%0.29%-14 bps
Net Charge-Offs / Loans0.02%0.06%0.01%0.04%0.02%+1 bps
Allowance / Loans1.43%1.33%1.30%1.29%1.26%-17 bps
Allowance Coverage of NPLs3.3x3.2x3.4x3.6x4.3x+1.0x
Capital
Tier 1 Leverage Ratio9.23%9.87%9.90%9.85%10.03%+80 bps
Total Risk-Based Capital12.64%12.75%12.25%12.24%14.02%+139 bps
Equity / Assets7.46%8.18%8.33%7.97%7.69%+24 bps
Liquidity & Funding
Loans / Deposits78.53%84.50%85.70%86.64%89.72%+1,119 bps
Liquid Assets / Assets11.36%7.06%5.81%6.51%3.35%-802 bps
CRE / Total Capitaln/an/an/an/an/an/an/a