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Letter portraitLegal landscapeQuarterYTD

First State Bank, The

Ketchum, OK · Cert 417

FDIC

Q3 2008

$24.3MAssets
$19.9MLoans
$22.1MDeposits
$2.2MEquity
Deposit mix
82%Interest-bearing $18.2M18%Noninterest $3.9MQ3 2007Q3 2008

NIM

8.29%Q3 ’068.22%Q3 ’077.12%Q3 ’08-3%-11%

Non-interest income vs. expense

3.99%Q3 ’064.98%Q3 ’073.87%Q3 ’08+46%-27%

Executive Summary

  • Earnings: ROA of 0.77%, up 134 bps year over year; NIM at 4.50%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.41%.
  • Funding: loans stand at 89.94% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

0.77%+134 bps YoY

Net Interest Margin (YTD, annualized)

4.50%-57 bps YoY

Efficiency Ratio (YTD, annualized)

82.59%-1,709 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets-0.57%-0.51%0.22%0.59%0.77%+134 bps
Return on Equity-7.12%-6.41%2.71%7.28%9.29%+1,641 bps
Net Interest Margin5.06%4.81%4.34%4.36%4.50%-57 bps
Efficiency Ratio99.68%101.56%92.72%85.76%82.59%-1,709 bps
Non-Interest Burden5.05%4.88%4.05%3.73%3.68%-137 bps
Growth
Asset Growth (YoY)-7.56%-0.97%-2.70%-0.74%-5.86%+170 bps
Loan Growth (YoY)-18.84%-12.14%3.58%22.12%25.75%+4,459 bps
Deposit Growth (YoY)-5.97%-0.57%-2.92%-1.06%-6.76%-79 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.61%2.39%0.24%0.45%0.41%-220 bps
Allowance / Loans2.35%1.87%1.63%1.32%1.22%-113 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 Capital12.84%12.46%12.11%12.40%12.65%-18 bps
Equity / Assets8.03%7.82%8.13%8.35%8.94%+92 bps
Liquidity & Funding
Loans / Deposits66.69%65.81%76.50%84.28%89.94%+2,325 bps
Liquid Assets / Assets5.86%5.36%5.51%3.95%3.31%-255 bps
CRE / Total Capitaln/an/an/an/an/an/an/a