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First State Bank

Riceville, IA · Cert 4498

FDIC

Q3 2009

$62.2MAssets
$36.4MLoans
$48.7MDeposits
$6.2MEquity
Loan mix
85%RE $16.9M14%C&I $2.9M0%Consumer $0.0MQ3 2008Q3 2009
Deposit mix
85%Interest-bearing $41.4M15%Noninterest $7.3MQ3 2008Q3 2009

NIM

6.11%Q3 ’075.98%Q3 ’085.32%Q3 ’09+6%-4%

Non-interest income vs. expense

2.64%Q3 ’072.55%Q3 ’082.51%Q3 ’09-5%-1%

Executive Summary

  • Earnings: ROA of 1.43%, down 8 bps year over year; NIM at 3.63%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.08%.
  • Funding: loans stand at 74.68% of deposits as of Q3 2009.

Financial Results

Return on Assets (YTD, annualized)

1.43%-8 bps YoY

Net Interest Margin (YTD, annualized)

3.63%-14 bps YoY

Efficiency Ratio (YTD, annualized)

61.69%+139 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2008Q4 2008Q1 2009Q2 2009Q3 2009YoY ΔTrend
Earnings
Return on Assets1.51%1.50%1.53%1.36%1.43%-8 bps
Return on Equity15.06%15.04%15.73%13.97%14.63%-43 bps
Net Interest Margin3.77%3.74%3.85%3.68%3.63%-14 bps
Efficiency Ratio60.30%60.51%59.17%63.32%61.69%+139 bps
Non-Interest Burden2.14%2.12%2.16%2.21%2.11%-3 bps
Growth
Asset Growth (YoY)4.12%5.47%2.84%5.40%7.51%+339 bps
Loan Growth (YoY)-7.41%-4.54%-9.47%-2.38%-0.01%+740 bps
Deposit Growth (YoY)3.42%8.75%4.80%3.53%10.00%+659 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.10%-0.08%-0.04%0.08%-3 bps
Allowance / Loans1.45%1.39%1.57%1.59%1.46%+1 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 Capital12.93%12.46%13.64%13.46%13.22%+28 bps
Equity / Assets9.35%9.68%9.83%9.65%9.97%+62 bps
Liquidity & Funding
Loans / Deposits82.16%80.63%72.45%71.06%74.68%-748 bps
Liquid Assets / Assets0.21%0.21%0.05%0.53%0.51%+31 bps
CRE / Total Capitaln/an/an/an/an/an/an/a