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First National Bank of Pine City, The

Pine City, MN · Cert 5226

FDIC

Q3 2007

$55.3MAssets
$35.1MLoans
$43.9MDeposits
$10.9MEquity
Loan mix
85%RE $23.2M15%C&I $4.0M0%Consumer $0.1MQ3 2006Q3 2007
Deposit mix
88%Interest-bearing $38.8M12%Noninterest $5.2MQ3 2006Q3 2007

NIM

5.88%Q3 ’056.35%Q3 ’066.62%Q3 ’07-5%+7%

Non-interest income vs. expense

2.53%Q3 ’052.55%Q3 ’063.01%Q3 ’07+4%+21%

Executive Summary

  • Earnings: ROA of 1.69%, down 13 bps year over year; NIM at 4.30%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 79.79% of deposits as of Q3 2007.

Financial Results

Return on Assets (quarter, annualized)

1.69%-13 bps YoY

Net Interest Margin (quarter, annualized)

4.30%+29 bps YoY

Efficiency Ratio (quarter, annualized)

64.32%+610 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets1.82%-5.33%2.10%2.25%1.69%-13 bps
Return on Equity17.25%-36.95%11.44%11.80%8.62%-863 bps
Net Interest Margin4.01%-11.87%3.99%4.31%4.30%+29 bps
Efficiency Ratio58.22%82.14%52.57%52.51%64.32%+610 bps
Non-Interest Burden2.18%-6.28%1.89%2.05%2.63%+45 bps
Growth
Asset Growth (YoY)-0.58%2.28%6.30%1.83%4.28%+485 bps
Loan Growth (YoY)2.30%3.10%1.00%3.50%4.66%+236 bps
Deposit Growth (YoY)-0.69%-7.36%-3.55%-8.49%-6.31%-562 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.08%0.00%0.23%0.00%0 bps
Allowance / Loans1.42%1.41%1.43%1.31%1.28%-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 Capital21.60%19.36%24.46%24.09%24.26%+266 bps
Equity / Assets10.65%17.95%18.82%19.40%19.69%+905 bps
Liquidity & Funding
Loans / Deposits71.42%72.14%73.78%77.62%79.79%+837 bps
Liquid Assets / Assets0.07%0.06%0.07%0.07%0.07%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a