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Letter portraitLegal landscapeQuarterYTD

Border State Bank of International Falls

International Falls, MN · Cert 35471

FDIC

Q3 2005

$39.3MAssets
$34.8MLoans
$34.9MDeposits
$3.6MEquity
Loan mix
49%RE $8.1M50%C&I $8.3M1%Consumer $0.1MQ3 2004Q3 2005
Deposit mix
82%Interest-bearing $28.6M18%Noninterest $6.3MQ3 2004Q3 2005

NIM

6.35%Q3 ’036.39%Q3 ’046.70%Q3 ’05+7%-1%

Non-interest income vs. expense

3.04%Q3 ’033.16%Q3 ’043.07%Q3 ’05+15%-6%

Executive Summary

  • Earnings: ROA of 1.62%, down 5 bps year over year; NIM at 4.79%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 99.64% of deposits as of Q3 2005.

Financial Results

Return on Assets (YTD, annualized)

1.62%-5 bps YoY

Net Interest Margin (YTD, annualized)

4.79%-7 bps YoY

Efficiency Ratio (YTD, annualized)

50.91%-122 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005YoY ΔTrend
Earnings
Return on Assets1.66%1.61%1.32%1.55%1.62%-5 bps
Return on Equity20.06%19.25%15.10%17.70%18.32%-174 bps
Net Interest Margin4.86%4.71%4.82%4.87%4.79%-7 bps
Efficiency Ratio52.14%52.81%55.45%51.99%50.91%-122 bps
Non-Interest Burden1.96%1.96%2.20%1.98%1.84%-12 bps
Growth
Asset Growth (YoY)11.32%12.58%14.01%15.38%6.93%-439 bps
Loan Growth (YoY)13.75%20.69%16.86%18.94%14.42%+67 bps
Deposit Growth (YoY)8.59%11.52%17.88%16.44%10.66%+207 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.04%0.03%0.00%0.04%0.03%-1 bps
Allowance / Loans1.35%1.33%1.39%1.39%1.47%+12 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 Capital11.31%11.18%11.27%11.13%11.47%+16 bps
Equity / Assets8.16%8.69%8.74%8.75%9.10%+94 bps
Liquidity & Funding
Loans / Deposits96.36%103.35%100.00%103.16%99.64%+328 bps
Liquid Assets / Assets3.51%1.66%2.21%2.30%2.28%-123 bps
CRE / Total Capitaln/an/an/an/an/an/an/a