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Firstbank - St. Johns

Saint Johns, MI · Cert 35577

FDIC

Q2 2011

$100.4MAssets
$65.7MLoans
$88.1MDeposits
$9.7MEquity
Loan mix
54%RE $25.3M24%C&I $11.4M22%Consumer $10.1MQ2 2010Q2 2011
Deposit mix
87%Interest-bearing $76.3M13%Noninterest $11.8MQ2 2010Q2 2011

NIM

5.60%Q2 ’094.80%Q2 ’104.38%Q2 ’11-8%+6%

Non-interest income vs. expense

3.77%Q2 ’092.86%Q2 ’103.12%Q2 ’11-2%+5%

Executive Summary

  • Earnings: ROA of -1.03%, down 83 bps year over year; NIM at 3.66%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.67%.
  • Funding: loans stand at 74.51% of deposits as of Q2 2011.

Financial Results

Return on Assets (YTD, annualized)

-1.03%-83 bps YoY

Net Interest Margin (YTD, annualized)

3.66%+22 bps YoY

Efficiency Ratio (YTD, annualized)

74.28%-6 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2010Q3 2010Q4 2010Q1 2011Q2 2011YoY ΔTrend
Earnings
Return on Assets-0.19%-0.14%-0.11%-0.18%-1.03%-83 bps
Return on Equity-2.46%-1.76%-1.40%-2.21%-11.96%-950 bps
Net Interest Margin3.44%3.61%3.73%3.56%3.66%+22 bps
Efficiency Ratio74.34%69.21%68.64%78.42%74.28%-6 bps
Non-Interest Burden2.45%2.27%2.28%2.70%2.58%+13 bps
Growth
Asset Growth (YoY)13.80%8.01%-6.51%2.81%-0.02%-1,382 bps
Loan Growth (YoY)-3.18%-8.25%-5.70%-8.88%-10.14%-697 bps
Deposit Growth (YoY)17.33%9.92%-6.15%3.52%-2.45%-1,978 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.89%1.52%1.45%1.53%4.67%+278 bps
Allowance / Loans1.83%2.51%2.85%2.97%2.66%+83 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 Capital11.99%12.47%12.67%13.07%15.41%+343 bps
Equity / Assets7.89%8.18%8.31%7.85%9.65%+175 bps
Liquidity & Funding
Loans / Deposits80.89%80.57%80.78%72.61%74.51%-638 bps
Liquid Assets / Assets4.98%5.65%6.71%13.65%9.40%+442 bps
CRE / Total Capitaln/an/an/an/an/an/an/a