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First Minnesota Bank, National Association

Minnetonka, MN · Cert 5151

FDIC · 10 branches

Q2 2019

$352.0MAssets
$125.1MLoans
$283.6MDeposits
$57.0MEquity
Loan mix
76%RE $64.5M18%C&I $15.2M6%Consumer $4.8MQ2 2018Q2 2019
Deposit mix
82%Interest-bearing $233.8M18%Noninterest $49.8MQ2 2018Q2 2019

NIM

3.56%Q2 ’173.93%Q2 ’183.83%Q2 ’19+14%-8%

Non-interest income vs. expense

2.41%Q2 ’172.55%Q2 ’182.31%Q2 ’19+59%-39%

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2019 SOD (annual) · 0.1% share · #48 of 145 inst. · $0.2B of $189.3B

11.0% McLeod
0.1% Hennepin
4.0% Wright
0.8% Carver

Executive Summary

  • Earnings: ROA of 1.17%, up 62 bps year over year; NIM at 3.19%.
  • Asset quality: problem loans at 0.15% of loans (-39 bps YoY), with net recoveries of 0.04%.
  • Capital: tier 1 leverage ratio of 15.70%, up 138 bps from a year ago.
  • Funding: loans stand at 44.12% of deposits as of Q2 2019.

Financial Results

Return on Assets (quarter, annualized)

1.17%+62 bps YoY

Net Interest Margin (quarter, annualized)

3.19%-27 bps YoY

Efficiency Ratio (quarter, annualized)

61.81%-1,947 bps YoY

Tier 1 Leverage Ratio

15.70%+138 bps YoY

Discrete quarter, annualized.

MetricQ2 2018Q3 2018Q4 2018Q1 2019Q2 2019YoY ΔTrend
Earnings
Return on Assets0.55%1.15%1.79%1.17%1.17%+62 bps
Return on Equity3.78%7.80%11.71%7.42%7.26%+348 bps
Net Interest Margin3.47%3.45%3.45%3.14%3.19%-27 bps
Efficiency Ratio81.28%62.90%50.86%70.44%61.81%-1,947 bps
Non-Interest Burden2.86%1.89%0.80%2.06%1.76%-110 bps
Growth
Asset Growth (YoY)-8.28%-6.67%-7.05%-6.25%-3.08%+520 bps
Loan Growth (YoY)2.19%-1.18%-0.13%-3.10%-3.39%-559 bps
Deposit Growth (YoY)-8.39%-4.43%-5.82%-5.39%-3.55%+484 bps
Asset Quality
Nonperforming Loans / Loans0.54%0.27%0.26%0.26%0.15%-39 bps
Net Charge-Offs / Loans0.00%0.00%0.27%-0.03%-0.04%-4 bps
Allowance / Loans1.92%1.94%1.92%1.43%1.32%-59 bps
Allowance Coverage of NPLs3.5x7.3x7.3x5.5x8.6x+5.1x
Capital
Tier 1 Leverage Ratio14.32%14.97%15.19%15.79%15.70%+138 bps
Total Risk-Based Capital24.61%25.27%27.74%28.30%29.35%+474 bps
Equity / Assets14.64%14.89%15.73%15.93%16.19%+154 bps
Liquidity & Funding
Loans / Deposits44.05%43.23%43.64%44.42%44.12%+7 bps
Liquid Assets / Assets11.19%11.62%17.88%26.51%28.90%+1,771 bps
CRE / Total Capitaln/an/an/an/an/an/an/a