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Letter portraitLegal landscapeQuarterYTD

First State Bank of Emmons

Emmons, MN · Cert 5139

FDIC

Q2 2003

$7.9MAssets
$3.7MLoans
$6.6MDeposits
$1.3MEquity
Loan mix
65%RE $1.2M35%C&I $0.6M0%Consumer $0.0MQ2 2002Q2 2003
Deposit mix
84%Interest-bearing $5.5M16%Noninterest $1.0MQ2 2002Q2 2003

NIM

7.77%Q2 ’016.45%Q2 ’025.61%Q2 ’03+1%-8%

Non-interest income vs. expense

4.57%Q2 ’014.35%Q2 ’023.83%Q2 ’03-5%-5%

Executive Summary

  • Earnings: ROA of 0.49%, down 4 bps year over year; NIM at 4.42%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 55.69% of deposits as of Q2 2003.

Financial Results

Return on Assets (YTD, annualized)

0.49%-4 bps YoY

Net Interest Margin (YTD, annualized)

4.42%-39 bps YoY

Efficiency Ratio (YTD, annualized)

84.41%+160 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets0.54%0.51%0.51%0.05%10.49%-4 bps
Return on Equity3.68%3.48%3.46%0.31%3.05%-63 bps
Net Interest Margin4.80%4.62%4.60%3.70%4.42%-39 bps
Efficiency Ratio82.81%83.13%88.94%97.70%84.41%+160 bps
Non-Interest Burden3.90%3.76%4.09%3.61%3.71%-19 bps
Growth
Asset Growth (YoY)6.70%1.45%-4.77%-3.50%-7.06%-1,376 bps
Loan Growth (YoY)-10.03%-8.02%-8.26%-20.09%-27.38%-1,735 bps
Deposit Growth (YoY)7.84%1.24%-6.74%-5.11%-8.64%-1,648 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.59%0.40%0.29%0.00%0.00%-59 bps
Allowance / Loans1.68%1.85%1.38%1.60%1.83%+14 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 Capital23.78%24.19%25.96%29.44%31.67%+789 bps
Equity / Assets15.03%14.84%15.71%15.95%16.66%+163 bps
Liquidity & Funding
Loans / Deposits70.06%67.12%68.33%60.29%55.69%-1,437 bps
Liquid Assets / Assets3.90%3.53%3.70%3.60%3.71%-20 bps
CRE / Total Capitaln/an/an/an/an/an/an/a