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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

7.65%Q3 ’016.58%Q3 ’025.95%Q3 ’03+2%+2%

Non-interest income vs. expense

2.48%Q3 ’012.47%Q3 ’022.11%Q3 ’03-2%-16%

Executive Summary

  • Earnings: ROA of 1.58%, up 40 bps year over year; NIM at 4.16%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.07%.
  • Funding: loans stand at 110.61% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

1.58%+40 bps YoY

Net Interest Margin (quarter, annualized)

4.16%+9 bps YoY

Efficiency Ratio (quarter, annualized)

47.11%-901 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.18%0.91%0.95%1.21%1.58%+40 bps
Return on Equity7.64%6.01%6.22%8.00%10.79%+315 bps
Net Interest Margin4.07%3.76%3.78%3.99%4.16%+9 bps
Efficiency Ratio56.12%69.79%65.92%51.74%47.11%-901 bps
Non-Interest Burden2.13%2.51%2.41%1.90%1.79%-34 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 / Loans0.13%0.28%0.00%0.41%-0.07%-20 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