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Letter portraitLegal landscapeQuarterYTD

First National Bank in Creston, The

Creston, IA · Cert 4444

FDIC · 4 branches

Q1 2024

$449.7MAssets
$278.8MLoans
$351.0MDeposits
$36.2MEquity
Loan mix
76%RE $154.4M20%C&I $41.4M4%Consumer $7.4MQ2 2022Q1 2024
Deposit mix
87%Interest-bearing $303.8M13%Noninterest $47.3MQ2 2022Q1 2024

Executive Summary

  • Earnings: ROA of 0.48%, down 12 bps year over year; NIM at 2.22%.
  • Asset quality: problem loans at 0.39% of loans (-11 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 9.41%, up 71 bps from a year ago.
  • Funding: loans stand at 79.41% of deposits as of Q1 2024.

Return on Assets (YTD, annualized)

0.48%-12 bps YoY

Net Interest Margin (YTD, annualized)

2.22%-27 bps YoY

Efficiency Ratio (YTD, annualized)

77.27%+192 bps YoY

Tier 1 Leverage Ratio

9.41%+71 bps YoY

NIM

2.58%Q1 ’223.54%Q1 ’233.96%Q1 ’24+2%-11%

Non-interest income vs. expense

3.06%Q1 ’223.09%Q1 ’232.96%Q1 ’24+6%-8%

Year to date, annualized, through each quarter.

MetricQ2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024YoY ΔTrend
Earnings
Return on Assets0.64%0.73%0.77%0.60%0.59%0.60%0.58%0.48%-12 bps
Return on Equity7.96%9.64%10.34%8.67%8.43%8.52%7.96%6.05%-261 bps
Net Interest Margin2.53%2.64%2.60%2.49%2.49%2.48%2.46%2.22%-27 bps
Efficiency Ratio74.53%72.37%71.53%75.35%75.59%75.31%75.83%77.27%+192 bps
Non-Interest Burden1.63%1.62%1.57%1.64%1.65%1.63%1.65%1.51%-13 bps
Growth
Asset Growth (YoY)3.58%7.40%6.56%4.05%4.97%3.06%0.09%0.99%-306 bps
Loan Growth (YoY)-3.99%5.60%10.76%12.63%14.36%8.81%2.39%0.06%-1,256 bps
Deposit Growth (YoY)3.89%12.55%7.18%1.77%-4.99%-9.64%-7.09%-5.61%-738 bps
Asset Quality
Nonperforming Loans / Loans0.28%0.48%0.48%0.50%0.28%0.20%0.32%0.39%-11 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.05%0.02%0.01%0.02%0.02%-3 bps
Allowance / Loans1.33%1.26%1.23%1.11%1.14%1.19%1.22%1.27%+15 bps
Allowance Coverage of NPLs4.8x2.6x2.6x2.2x4.1x6.1x3.8x3.3x+1.0x
Capital
Tier 1 Leverage Ratio8.48%8.69%8.56%8.71%8.89%9.06%9.23%9.41%+71 bps
Total Risk-Based Capital13.20%12.57%12.33%12.82%13.07%13.18%13.50%14.47%+164 bps
Equity / Assets7.22%6.37%6.68%7.19%7.28%7.15%7.97%8.04%+85 bps
Liquidity & Funding
Loans / Deposits65.98%70.08%73.65%74.91%79.41%84.39%81.16%79.41%+450 bps
Liquid Assets / Assets1.23%1.36%0.86%0.52%0.37%0.34%0.39%4.12%+360 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a