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First State Bank, Jones, Oklahoma

Jones, OK · Cert 4126

FDIC

Q4 2009

$42.3MAssets
$9.9MLoans
$36.7MDeposits
$5.4MEquity
Loan mix
67%RE $4.1M32%C&I $1.9M1%Consumer $0.1MQ4 2008Q4 2009
Deposit mix
80%Interest-bearing $29.5M20%Noninterest $7.2MQ4 2008Q4 2009

NIM

5.46%Q4 ’074.75%Q4 ’08-11.80%Q4 ’09-1%-367%

Non-interest income vs. expense

4.14%Q4 ’073.61%Q4 ’08-9.65%Q4 ’09-10%-371%

Executive Summary

  • Earnings: ROA of -1.17%, down 168 bps year over year; NIM at -9.16%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 1.21%.
  • Funding: loans stand at 27.07% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

-1.17%-168 bps YoY

Net Interest Margin (quarter, annualized)

-9.16%-1,259 bps YoY

Efficiency Ratio (quarter, annualized)

81.93%-208 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets0.50%0.64%0.29%0.34%-1.17%-168 bps
Return on Equity4.34%5.56%2.61%2.87%-9.30%-1,364 bps
Net Interest Margin3.43%3.16%3.09%3.11%-9.16%-1,259 bps
Efficiency Ratio84.01%82.52%86.00%85.35%81.93%-208 bps
Non-Interest Burden2.74%2.48%2.54%2.54%-7.43%-1,017 bps
Growth
Asset Growth (YoY)18.09%6.88%-0.79%-5.11%6.33%-1,177 bps
Loan Growth (YoY)-0.39%-2.29%-9.00%-13.82%-18.53%-1,814 bps
Deposit Growth (YoY)19.98%8.05%-1.33%-2.81%5.32%-1,466 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.33%0.86%0.14%0.04%-1.21%-154 bps
Allowance / Loans2.47%2.51%2.70%2.81%0.00%-247 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 Capital26.61%26.97%27.85%28.81%26.79%+19 bps
Equity / Assets11.84%11.08%11.47%12.38%12.84%+100 bps
Liquidity & Funding
Loans / Deposits34.99%31.27%31.72%33.58%27.07%-792 bps
Liquid Assets / Assets0.63%3.56%6.78%6.53%1.77%+114 bps
CRE / Total Capitaln/an/an/an/an/an/an/a