PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Citizens Bank

Clive, IA · Cert 35516

FDIC

Q4 2006

$672.9MAssets
$496.6MLoans
$549.8MDeposits
$64.2MEquity
Loan mix
71%RE $195.4M29%C&I $79.5M0%Consumer $0.7MQ4 2005Q4 2006
Deposit mix
87%Interest-bearing $477.0M13%Noninterest $72.8MQ4 2005Q4 2006

NIM

5.65%Q4 ’046.31%Q4 ’056.72%Q4 ’06+1%-12%

Non-interest income vs. expense

2.90%Q4 ’043.34%Q4 ’053.38%Q4 ’06+12%-2%

Executive Summary

  • Earnings: ROA of 1.09%, down 30 bps year over year; NIM at 3.92%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.29%.
  • Funding: loans stand at 90.33% of deposits as of Q4 2006.

Financial Results

Return on Assets (quarter, annualized)

1.09%-30 bps YoY

Net Interest Margin (quarter, annualized)

3.92%-55 bps YoY

Efficiency Ratio (quarter, annualized)

62.51%+629 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets1.39%1.36%1.44%1.36%1.09%-30 bps
Return on Equity13.91%13.71%14.94%14.35%11.33%-258 bps
Net Interest Margin4.48%4.30%4.09%4.00%3.92%-55 bps
Efficiency Ratio56.22%57.90%55.92%56.54%62.51%+629 bps
Non-Interest Burden2.06%2.01%1.78%1.74%2.02%-5 bps
Growth
Asset Growth (YoY)-0.55%2.61%7.52%10.11%11.85%+1,240 bps
Loan Growth (YoY)-1.28%-0.10%4.05%9.87%12.20%+1,349 bps
Deposit Growth (YoY)5.78%6.37%6.67%5.13%5.01%-77 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%-0.10%0.22%0.07%0.29%+28 bps
Allowance / Loans1.48%1.55%1.43%1.43%1.38%-9 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 Capital11.41%11.58%11.12%11.14%11.16%-25 bps
Equity / Assets9.96%9.84%9.40%9.61%9.55%-42 bps
Liquidity & Funding
Loans / Deposits84.54%83.38%89.83%92.76%90.33%+579 bps
Liquid Assets / Assets0.00%0.00%0.04%0.00%0.89%+89 bps
CRE / Total Capitaln/an/an/an/an/an/an/a