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Elkhart Community Bank

Elkhart, IN · Cert 35270

FDIC

Q4 2009

$94.2MAssets
$71.5MLoans
$86.9MDeposits
$5.9MEquity
Loan mix
75%RE $49.2M25%C&I $16.1M0%Consumer $0.0MQ4 2008Q4 2009
Deposit mix
95%Interest-bearing $82.2M5%Noninterest $4.7MQ4 2008Q4 2009

NIM

7.69%Q4 ’075.16%Q4 ’084.25%Q4 ’09-41%+12%

Non-interest income vs. expense

2.43%Q4 ’072.00%Q4 ’082.82%Q4 ’09-19%+89%

Executive Summary

  • Earnings: ROA of -2.25%, down 156 bps year over year; NIM at 2.59%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 5.99%.
  • Funding: loans stand at 82.30% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

-2.25%-156 bps YoY

Net Interest Margin (quarter, annualized)

2.59%+28 bps YoY

Efficiency Ratio (quarter, annualized)

133.54%+5,560 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-0.70%-1.69%-2.25%-7.75%-2.25%-156 bps
Return on Equity-7.84%-19.90%-30.01%-117.61%-35.62%-2,778 bps
Net Interest Margin2.31%2.02%2.31%2.55%2.59%+28 bps
Efficiency Ratio77.94%99.04%93.76%113.30%133.54%+5,560 bps
Non-Interest Burden1.75%2.00%2.15%2.85%3.30%+155 bps
Growth
Asset Growth (YoY)11.60%5.81%19.34%-0.12%-5.76%-1,735 bps
Loan Growth (YoY)5.33%-2.87%-9.65%-14.31%-18.97%-2,430 bps
Deposit Growth (YoY)13.82%9.87%27.56%3.38%-2.89%-1,672 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.74%1.28%0.57%7.37%5.99%+325 bps
Allowance / Loans1.93%2.50%3.72%3.55%3.31%+138 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 Capital10.08%10.32%9.83%8.17%8.22%-186 bps
Equity / Assets8.62%8.40%6.73%6.42%6.22%-240 bps
Liquidity & Funding
Loans / Deposits98.62%98.48%80.00%87.17%82.30%-1,633 bps
Liquid Assets / Assets4.19%7.35%22.43%16.87%20.40%+1,620 bps
CRE / Total Capitaln/an/an/an/an/an/an/a