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Letter portraitLegal landscapeQuarterYTD

Community First National Bank

Fargo, ND · Cert 3924

FDIC

Q3 2004

$5.4BAssets
$3.5BLoans
$4.4BDeposits
$475.8MEquity
Loan mix
60%RE $677.3M37%C&I $419.2M2%Consumer $23.2MQ3 2003Q3 2004
Deposit mix
90%Interest-bearing $4.0B10%Noninterest $0.4BQ3 2003Q3 2004

NIM

6.48%Q3 ’025.76%Q3 ’035.15%Q3 ’04-4%-7%

Non-interest income vs. expense

3.28%Q3 ’023.32%Q3 ’033.26%Q3 ’04-3%-1%

Executive Summary

  • Earnings: ROA of 1.71%, down 10 bps year over year; NIM at 4.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.22%.
  • Funding: loans stand at 79.11% of deposits as of Q3 2004.

Financial Results

Return on Assets (YTD, annualized)

1.71%-10 bps YoY

Net Interest Margin (YTD, annualized)

4.35%-34 bps YoY

Efficiency Ratio (YTD, annualized)

53.96%+222 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets1.81%1.82%1.70%1.74%1.71%-10 bps
Return on Equity18.30%18.52%18.46%19.46%19.21%+91 bps
Net Interest Margin4.69%4.67%4.44%4.39%4.35%-34 bps
Efficiency Ratio51.73%51.82%54.73%53.37%53.96%+222 bps
Non-Interest Burden1.71%1.71%1.78%1.66%1.70%-1 bps
Growth
Asset Growth (YoY)-2.40%-6.18%-4.69%-0.20%-0.27%+214 bps
Loan Growth (YoY)-7.91%-7.05%-5.27%0.16%3.42%+1,133 bps
Deposit Growth (YoY)-5.84%-5.88%-3.21%-1.53%0.40%+624 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.50%0.50%0.25%0.24%0.22%-28 bps
Allowance / Loans1.61%1.57%1.58%1.53%1.52%-8 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 Capital12.29%12.36%11.58%11.30%11.21%-108 bps
Equity / Assets9.53%9.48%8.98%8.37%8.77%-76 bps
Liquidity & Funding
Loans / Deposits76.80%75.60%75.23%78.06%79.11%+231 bps
Liquid Assets / Assets0.05%0.05%0.02%0.03%0.04%-1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a