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Letter portraitLegal landscapeQuarterYTD

First National Bank of Crosby, The

Crosby, MN · Cert 5119

FDIC

Q3 2006

$57.9MAssets
$29.9MLoans
$52.2MDeposits
$5.4MEquity
Loan mix
82%RE $15.1M18%C&I $3.3M0%Consumer $0.1MQ3 2005Q3 2006
Deposit mix
87%Interest-bearing $45.5M13%Noninterest $6.7MQ3 2005Q3 2006

NIM

4.94%Q3 ’044.73%Q3 ’055.76%Q3 ’06-17%+11%

Non-interest income vs. expense

2.50%Q3 ’042.39%Q3 ’052.52%Q3 ’06-4%+5%

Executive Summary

  • Earnings: ROA of 1.41%, up 18 bps year over year; NIM at 3.55%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 57.32% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

1.41%+18 bps YoY

Net Interest Margin (YTD, annualized)

3.55%+36 bps YoY

Efficiency Ratio (YTD, annualized)

63.73%-337 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets1.23%1.22%1.33%1.39%1.41%+18 bps
Return on Equity13.19%13.32%15.10%15.66%15.74%+255 bps
Net Interest Margin3.19%3.35%3.54%3.61%3.55%+36 bps
Efficiency Ratio67.10%67.16%65.66%64.06%63.73%-337 bps
Non-Interest Burden2.02%2.12%2.20%2.18%2.12%+10 bps
Growth
Asset Growth (YoY)15.41%15.87%8.23%5.27%-0.22%-1,563 bps
Loan Growth (YoY)4.15%1.33%2.99%2.18%-3.30%-745 bps
Deposit Growth (YoY)17.65%17.54%8.84%5.68%-0.99%-1,865 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.01%0.03%0.03%0.02%+2 bps
Allowance / Loans1.50%1.56%1.53%1.53%1.60%+10 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 Capital18.40%18.33%19.29%18.98%19.56%+116 bps
Equity / Assets8.70%8.48%9.19%8.90%9.34%+64 bps
Liquidity & Funding
Loans / Deposits58.69%56.27%60.10%59.31%57.32%-137 bps
Liquid Assets / Assets3.57%2.98%2.57%1.94%1.93%-164 bps
CRE / Total Capitaln/an/an/an/an/an/an/a