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First National Bank in Montevideo

Montevideo, MN · Cert 5211

FDIC

Q1 2005

$132.3MAssets
$80.9MLoans
$107.6MDeposits
$19.9MEquity
Loan mix
69%RE $28.2M29%C&I $11.8M3%Consumer $1.1MQ1 2004Q1 2005
Deposit mix
86%Interest-bearing $92.6M14%Noninterest $15.1MQ1 2004Q1 2005

NIM

5.76%Q1 ’035.00%Q1 ’045.07%Q1 ’05-5%+6%

Non-interest income vs. expense

2.62%Q1 ’032.77%Q1 ’042.45%Q1 ’05-20%-2%

Executive Summary

  • Earnings: ROA of 2.07%, up 25 bps year over year; NIM at 3.61%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.06%.
  • Funding: loans stand at 75.15% of deposits as of Q1 2005.

Financial Results

Return on Assets (quarter, annualized)

2.07%+25 bps YoY

Net Interest Margin (quarter, annualized)

3.61%+21 bps YoY

Efficiency Ratio (quarter, annualized)

53.51%-600 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2004Q2 2004Q3 2004Q4 2004Q1 2005YoY ΔTrend
Earnings
Return on Assets1.82%1.88%1.81%3.45%2.07%+25 bps
Return on Equity13.09%13.06%12.15%22.79%13.80%+71 bps
Net Interest Margin3.40%3.50%3.68%3.69%3.61%+21 bps
Efficiency Ratio59.51%58.04%60.39%61.22%53.51%-600 bps
Non-Interest Burden1.51%1.64%1.86%1.92%1.48%-3 bps
Growth
Asset Growth (YoY)-7.59%-10.63%-9.50%-9.11%-6.23%+136 bps
Loan Growth (YoY)-20.99%-17.30%-11.36%-9.39%-5.35%+1,564 bps
Deposit Growth (YoY)-11.07%-13.87%-13.96%-12.02%-5.04%+603 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.09%-0.13%-0.14%0.06%-0.06%-15 bps
Allowance / Loans1.99%1.99%2.05%1.43%1.50%-49 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 Capital20.30%20.50%20.56%20.49%20.90%+59 bps
Equity / Assets14.41%14.46%15.32%14.99%15.03%+62 bps
Liquidity & Funding
Loans / Deposits75.39%79.66%81.99%78.92%75.15%-24 bps
Liquid Assets / Assets1.36%0.01%0.01%0.02%2.52%+116 bps
CRE / Total Capitaln/an/an/an/an/an/an/a