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Old Mission Bank

Sault Ste Marie, MI · Cert 35303

FDIC · 2 branches

Q2 2023

$123.9MAssets
$53.7MLoans
$107.3MDeposits
$10.0MEquity
Loan mix
74%RE $29.4M18%C&I $7.1M8%Consumer $3.2MQ3 2021Q2 2023
Deposit mix
75%Interest-bearing $80.5M25%Noninterest $26.8MQ3 2021Q2 2023

Executive Summary

  • Earnings: ROA of 0.26%, down 13 bps year over year; NIM at 2.40%.
  • Asset quality: problem loans at 0.10% of loans (-14 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 11.94%, up 90 bps from a year ago.
  • Funding: loans stand at 50.07% of deposits as of Q2 2023.

Return on Assets (quarter, annualized)

0.26%-13 bps YoY

Net Interest Margin (quarter, annualized)

2.40%-25 bps YoY

Efficiency Ratio (quarter, annualized)

91.07%-178 bps YoY

Tier 1 Leverage Ratio

11.94%+90 bps YoY

NIM

3.21%Q2 ’212.96%Q2 ’223.27%Q2 ’23-7%-9%

Non-interest income vs. expense

2.94%Q2 ’212.92%Q2 ’222.77%Q2 ’23+11%-12%

Discrete quarter, annualized.

MetricQ3 2021Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023YoY ΔTrend
Earnings
Return on Assets0.44%0.34%0.36%0.39%0.38%0.32%0.21%0.26%-13 bps
Return on Equity3.81%3.01%3.59%4.70%5.04%4.30%2.66%3.19%-152 bps
Net Interest Margin2.52%2.40%2.39%2.64%2.56%2.49%2.45%2.40%-25 bps
Efficiency Ratio89.12%94.26%93.67%92.85%93.16%95.19%93.25%91.07%-178 bps
Non-Interest Burden2.17%2.23%2.20%2.42%2.35%2.34%2.24%2.12%-29 bps
Growth
Asset Growth (YoY)0.56%4.16%0.67%-8.06%-4.38%-8.38%-9.31%-5.38%+268 bps
Loan Growth (YoY)-25.39%-17.44%-13.63%-2.28%9.51%12.36%12.61%16.32%+1,860 bps
Deposit Growth (YoY)1.00%5.94%3.74%-4.81%0.54%-5.63%-9.25%-9.05%-424 bps
Asset Quality
Nonperforming Loans / Loans0.69%0.69%0.57%0.24%0.25%0.13%0.12%0.10%-14 bps
Net Charge-Offs / Loans0.03%0.03%0.00%0.00%-0.02%0.13%0.00%0.01%+1 bps
Allowance / Loans2.28%2.34%2.10%2.00%1.70%1.56%1.49%1.46%-54 bps
Allowance Coverage of NPLs3.3x3.4x3.7x8.5x6.9x11.7x12.3x14.6x+6.1x
Capital
Tier 1 Leverage Ratio10.88%11.05%10.62%11.03%11.14%11.25%11.76%11.94%+90 bps
Total Risk-Based Capital26.81%26.06%24.41%23.67%23.90%22.90%24.64%22.99%-68 bps
Equity / Assets11.72%11.16%8.80%7.95%7.23%7.56%8.54%8.05%+10 bps
Liquidity & Funding
Loans / Deposits39.41%37.50%38.34%39.15%42.93%44.65%47.58%50.07%+1,092 bps
Liquid Assets / Assets1.99%1.42%0.70%1.77%0.29%0.30%0.89%0.56%-120 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a