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Anchor Bank Farmington, National Association

Farmington, MN · Cert 5147

FDIC

Q3 2008

$123.8MAssets
$98.4MLoans
$106.6MDeposits
$13.6MEquity
Loan mix
76%RE $62.7M24%C&I $19.3M0%Consumer $0.2MQ3 2007Q3 2008
Deposit mix
80%Interest-bearing $85.7M20%Noninterest $20.9MQ3 2007Q3 2008

NIM

7.15%Q3 ’066.84%Q3 ’075.25%Q3 ’08-11%-13%

Non-interest income vs. expense

4.13%Q3 ’064.91%Q3 ’075.03%Q3 ’08+26%+1%

Executive Summary

  • Earnings: ROA of -0.97%, down 132 bps year over year; NIM at 3.67%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.79%.
  • Funding: loans stand at 92.27% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

-0.97%-132 bps YoY

Net Interest Margin (quarter, annualized)

3.67%-54 bps YoY

Efficiency Ratio (quarter, annualized)

97.64%+1,009 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.35%-0.26%-0.60%-0.28%-0.97%-132 bps
Return on Equity3.68%-2.77%-5.89%-2.55%-8.84%-1,252 bps
Net Interest Margin4.21%4.44%3.76%4.10%3.67%-54 bps
Efficiency Ratio87.55%79.12%88.88%83.72%97.64%+1,009 bps
Non-Interest Burden3.51%3.17%3.20%3.16%3.55%+4 bps
Growth
Asset Growth (YoY)4.49%5.82%6.26%9.86%4.24%-26 bps
Loan Growth (YoY)11.36%14.56%15.23%9.33%-0.82%-1,219 bps
Deposit Growth (YoY)7.57%3.00%1.98%6.05%1.90%-568 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.70%0.36%2.16%1.79%+177 bps
Allowance / Loans1.32%1.65%1.98%1.90%2.17%+85 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 Capital10.38%10.14%12.50%12.53%12.65%+227 bps
Equity / Assets9.39%9.23%11.10%10.95%11.00%+161 bps
Liquidity & Funding
Loans / Deposits94.80%96.88%97.24%95.92%92.27%-253 bps
Liquid Assets / Assets0.02%0.02%0.04%0.04%0.03%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a