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Union State Bank

Upton, WY · Cert 522

FDIC

Q3 2006

$41.0MAssets
$14.5MLoans
$34.1MDeposits
$6.6MEquity
Loan mix
19%RE $1.1M81%C&I $4.7M0%Consumer $0.0MQ3 2005Q3 2006
Deposit mix
84%Interest-bearing $28.6M16%Noninterest $5.5MQ3 2005Q3 2006

NIM

4.45%Q3 ’044.93%Q3 ’056.30%Q3 ’06+18%+1%

Non-interest income vs. expense

2.94%Q3 ’042.54%Q3 ’053.05%Q3 ’06-61%+195%

Executive Summary

  • Earnings: ROA of 1.28%, up 56 bps year over year; NIM at 4.10%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 42.56% of deposits as of Q3 2006.

Financial Results

Return on Assets (quarter, annualized)

1.28%+56 bps YoY

Net Interest Margin (quarter, annualized)

4.10%+5 bps YoY

Efficiency Ratio (quarter, annualized)

70.95%+2,579 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets0.72%0.86%2.62%2.43%1.28%+56 bps
Return on Equity3.34%4.91%18.26%15.80%7.85%+451 bps
Net Interest Margin4.05%4.08%4.44%3.96%4.10%+5 bps
Efficiency Ratio45.15%67.05%45.24%48.16%70.95%+2,579 bps
Non-Interest Burden0.97%2.40%1.91%1.55%2.85%+188 bps
Growth
Asset Growth (YoY)17.59%82.73%92.64%63.68%53.32%+3,573 bps
Loan Growth (YoY)139.80%246%246%152.98%-6.83%-14,663 bps
Deposit Growth (YoY)8.21%78.86%84.89%74.22%65.09%+5,688 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%-0.86%-0.03%0.02%0.00%0 bps
Allowance / Loans1.24%1.05%1.06%1.41%1.68%+44 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 Capital29.19%12.55%17.35%24.90%27.75%-144 bps
Equity / Assets22.55%14.31%14.44%16.38%16.10%-645 bps
Liquidity & Funding
Loans / Deposits75.42%64.43%63.07%52.18%42.56%-3,286 bps
Liquid Assets / Assets8.59%2.58%0.00%0.00%0.00%-859 bps
CRE / Total Capitaln/an/an/an/an/an/an/a