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Letter portraitLegal landscapeQuarterYTD

First National Bank of Deer River, The

Deer River, MN · Cert 5122

FDIC

Q3 2006

$15.6MAssets
$9.2MLoans
$12.3MDeposits
$2.8MEquity
Loan mix
56%RE $4.1M43%C&I $3.1M0%Consumer $0.0MQ3 2005Q3 2006
Deposit mix
74%Interest-bearing $9.0M26%Noninterest $3.3MQ3 2005Q3 2006

NIM

4.98%Q3 ’045.26%Q3 ’051.30%Q3 ’06+6%-78%

Non-interest income vs. expense

4.43%Q3 ’044.84%Q3 ’050.90%Q3 ’06+21%-80%

Executive Summary

  • Earnings: ROA of 0.11%, down 12 bps year over year; NIM at 0.99%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 74.96% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

0.11%-12 bps YoY

Net Interest Margin (YTD, annualized)

0.99%-344 bps YoY

Efficiency Ratio (YTD, annualized)

81.48%-988 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 Assets0.23%0.34%0.29%0.36%0.11%-12 bps
Return on Equity1.55%2.20%1.71%2.13%0.65%-91 bps
Net Interest Margin4.44%4.60%4.69%4.79%0.99%-344 bps
Efficiency Ratio91.36%91.53%90.86%88.58%81.48%-988 bps
Non-Interest Burden3.98%4.14%4.19%4.15%0.79%-319 bps
Growth
Asset Growth (YoY)-5.23%-17.15%-5.28%-11.46%6.28%+1,151 bps
Loan Growth (YoY)11.30%-3.89%0.99%-4.97%-5.90%-1,720 bps
Deposit Growth (YoY)-6.19%-20.25%-7.02%-13.90%0.19%+638 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.05%-0.05%0.00%0.00%0.00%+5 bps
Allowance / Loans2.65%2.82%2.81%2.80%2.83%+18 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 Capital28.31%29.65%29.74%29.70%28.69%+38 bps
Equity / Assets15.84%16.68%16.88%17.39%18.24%+240 bps
Liquidity & Funding
Loans / Deposits79.81%79.38%81.23%83.87%74.96%-485 bps
Liquid Assets / Assets10.80%12.68%12.12%12.42%12.71%+190 bps
CRE / Total Capitaln/an/an/an/an/an/an/a