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Farmers and Merchants Bank and Trust

Mount Pleasant, IA · Cert 35334

FDIC

Q2 2005

$13.1MAssets
$7.0MLoans
$10.7MDeposits
$2.3MEquity
Loan mix
49%RE $1.3M46%C&I $1.2M5%Consumer $0.1MQ2 2004Q2 2005
Deposit mix
96%Interest-bearing $10.3M4%Noninterest $0.5MQ2 2004Q2 2005

NIM

3.75%Q2 ’034.11%Q2 ’045.13%Q2 ’05+36%+19%

Non-interest income vs. expense

2.36%Q2 ’032.50%Q2 ’042.47%Q2 ’05+7%-2%

Executive Summary

  • Earnings: ROA of 0.48%, up 8 bps year over year; NIM at 3.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 65.02% of deposits as of Q2 2005.

Financial Results

Return on Assets (quarter, annualized)

0.48%+8 bps YoY

Net Interest Margin (quarter, annualized)

3.01%+48 bps YoY

Efficiency Ratio (quarter, annualized)

76.47%-1,510 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2004Q3 2004Q4 2004Q1 2005Q2 2005YoY ΔTrend
Earnings
Return on Assets0.40%0.51%0.22%0.34%0.48%+8 bps
Return on Equity2.06%2.41%1.03%1.72%2.58%+51 bps
Net Interest Margin2.53%3.18%3.15%3.09%3.01%+48 bps
Efficiency Ratio91.57%78.57%90.53%84.04%76.47%-1,510 bps
Non-Interest Burden2.30%2.38%2.82%2.56%2.25%-5 bps
Growth
Asset Growth (YoY)-10.53%-8.17%0.44%1.49%7.27%+1,779 bps
Loan Growth (YoY)61.19%47.65%15.96%8.26%2.84%-5,834 bps
Deposit Growth (YoY)-12.79%-9.20%0.39%2.03%8.49%+2,128 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.27%0.27%0.27%0.29%0.30%+4 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 Capital31.72%34.38%31.95%31.73%30.74%-98 bps
Equity / Assets18.88%23.73%19.89%19.13%17.85%-103 bps
Liquidity & Funding
Loans / Deposits68.59%90.73%74.12%71.07%65.02%-357 bps
Liquid Assets / Assets0.00%6.03%11.00%6.55%1.51%+151 bps
CRE / Total Capitaln/an/an/an/an/an/an/a