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Pioneer National Bank of Duluth, The

Duluth, MN · Cert 5130

FDIC · 3 branches

Q1 2018

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q1 2018, the quarter ended March 31, 2018, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Pioneer National Bank of Duluth, The

Duluth, MN · Cert 5130

FDIC · 3 branches

Q1 2018

$82.1MAssets
$58.4MLoans
$72.6MDeposits
$8.7MEquity
Loan mix
70%RE $34.1M25%C&I $12.0M5%Consumer $2.6MQ1 2017Q1 2018
Deposit mix
78%Interest-bearing $56.7M22%Noninterest $15.8MQ1 2017Q1 2018

NIM

4.00%Q1 ’164.04%Q1 ’174.12%Q1 ’18+2%+2%

Non-interest income vs. expense

3.30%Q1 ’163.51%Q1 ’175.31%Q1 ’18+10%+55%

Market Position · Duluth, MN-WI · 2017 SOD (annual) · 1.7% share · #12 of 30 inst. · $0.1B of $4.3B

Executive Summary

  • Earnings: ROA of -1.17%, down 171 bps year over year; NIM at 3.97%.
  • Asset quality: problem loans at 0.30% of loans (-6 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.59%, down 46 bps from a year ago.
  • Funding: loans stand at 80.55% of deposits as of Q1 2018.

Financial Results

Return on Assets (YTD, annualized)

-1.17%-171 bps YoY

Net Interest Margin (YTD, annualized)

3.97%+8 bps YoY

Efficiency Ratio (YTD, annualized)

126.39%+4,114 bps YoY

Tier 1 Leverage Ratio

10.59%-46 bps YoY

Year to date, annualized, through each quarter.

MetricQ1 2017Q2 2017Q3 2017Q4 2017Q1 2018YoY ΔTrend
Earnings
Return on Assets0.55%0.52%0.70%0.79%-1.17%-171 bps
Return on Equity4.96%4.76%6.42%7.22%-10.88%-1,584 bps
Net Interest Margin3.89%3.88%3.86%3.77%3.97%+8 bps
Efficiency Ratio85.24%84.64%80.89%78.93%126.39%+4,114 bps
Non-Interest Burden3.28%3.25%3.09%2.93%5.08%+180 bps
Growth
Asset Growth (YoY)-2.29%3.19%2.71%2.85%3.31%+561 bps
Loan Growth (YoY)-0.44%-5.43%-3.50%-3.09%0.95%+139 bps
Deposit Growth (YoY)-2.51%5.12%3.31%3.03%4.12%+663 bps
Asset Quality
Nonperforming Loans / Loans0.36%0.35%0.34%0.33%0.30%-6 bps
Net Charge-Offs / Loans0.88%0.45%0.30%0.22%0.00%-88 bps
Allowance / Loans0.96%1.03%1.05%1.06%1.05%+9 bps
Allowance Coverage of NPLs2.7x2.9x3.1x3.3x3.5x+0.8x
Capital
Tier 1 Leverage Ratio11.05%11.00%10.86%10.75%10.59%-46 bps
Total Risk-Based Capital17.36%17.93%17.83%18.01%17.05%-31 bps
Equity / Assets11.07%10.76%10.79%10.90%10.59%-48 bps
Liquidity & Funding
Loans / Deposits83.07%78.12%77.69%77.96%80.55%-252 bps
Liquid Assets / Assets17.11%21.27%21.45%21.15%19.49%+238 bps
CRE / Total Capitaln/an/an/an/an/an/an/a