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First State Bank of Sinai

Sinai, SD · Cert 498

FDIC

Q3 2003

$19.6MAssets
$17.0MLoans
$15.4MDeposits
$2.9MEquity
Deposit mix
94%Interest-bearing $14.4M6%Noninterest $1.0MQ3 2002Q3 2003

NIM

7.57%Q3 ’016.40%Q3 ’025.55%Q3 ’03-3%+0%

Non-interest income vs. expense

2.44%Q3 ’012.64%Q3 ’022.18%Q3 ’03-9%-3%

Executive Summary

  • Earnings: ROA of 1.25%, up 9 bps year over year; NIM at 3.73%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Funding: loans stand at 110.61% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

1.25%+9 bps YoY

Net Interest Margin (YTD, annualized)

3.73%+1 bps YoY

Efficiency Ratio (YTD, annualized)

54.21%-565 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.15%1.09%0.95%1.07%1.25%+9 bps
Return on Equity7.77%7.32%6.22%7.11%8.36%+58 bps
Net Interest Margin3.72%3.61%3.78%3.80%3.73%+1 bps
Efficiency Ratio59.86%62.31%65.92%58.42%54.21%-565 bps
Non-Interest Burden1.95%2.03%2.41%2.10%1.89%-6 bps
Growth
Asset Growth (YoY)4.92%-1.76%2.44%12.40%14.10%+917 bps
Loan Growth (YoY)6.24%6.67%7.75%12.59%12.48%+624 bps
Deposit Growth (YoY)3.72%-2.68%1.93%8.27%9.23%+551 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.08%0.00%0.21%0.11%+10 bps
Allowance / Loans1.30%1.31%1.31%1.13%1.11%-20 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 Capital20.42%19.69%21.32%20.08%19.77%-65 bps
Equity / Assets15.34%14.92%15.55%14.78%14.53%-81 bps
Liquidity & Funding
Loans / Deposits107.41%94.13%97.63%108.74%110.61%+320 bps
Liquid Assets / Assets7.24%8.05%8.11%7.56%6.90%-33 bps
CRE / Total Capitaln/an/an/an/an/an/an/a