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Merchants Bank, National Association

La Crescent, MN · Cert 57493

FDIC

Q1 2009

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q1 2009, the quarter ended March 31, 2009, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-10

Merchants Bank, National Association

La Crescent, MN · Cert 57493

FDIC

Q1 2009

$96.0MAssets
$69.1MLoans
$86.4MDeposits
$8.2MEquity
Loan mix
63%RE $35.1M36%C&I $19.8M1%Consumer $0.7MQ1 2008Q1 2009
Deposit mix
87%Interest-bearing $75.2M13%Noninterest $11.2MQ1 2008Q1 2009

NIM

6.56%Q1 ’076.49%Q1 ’085.29%Q1 ’09+9%-22%

Non-interest income vs. expense

3.33%Q1 ’073.82%Q1 ’083.82%Q1 ’09-3%-19%

Executive Summary

  • Earnings: ROA of 0.98%, down 57 bps year over year; NIM at 3.69%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.44%.
  • Funding: loans stand at 79.98% of deposits as of Q1 2009.

Financial Results

Return on Assets (YTD, annualized)

0.98%-57 bps YoY

Net Interest Margin (YTD, annualized)

3.69%-105 bps YoY

Efficiency Ratio (YTD, annualized)

66.35%+673 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009YoY ΔTrend
Earnings
Return on Assets1.55%1.06%1.01%0.99%0.98%-57 bps
Return on Equity15.91%10.25%9.65%9.96%11.49%-442 bps
Net Interest Margin4.75%4.45%4.25%3.93%3.69%-105 bps
Efficiency Ratio59.62%72.77%72.69%71.18%66.35%+673 bps
Non-Interest Burden2.16%2.80%2.68%2.42%1.76%-40 bps
Growth
Asset Growth (YoY)-2.76%44.30%49.50%62.47%72.72%+7,548 bps
Loan Growth (YoY)-6.64%44.78%46.89%62.11%67.40%+7,404 bps
Deposit Growth (YoY)-0.01%44.86%50.79%64.58%78.72%+7,873 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.21%0.13%0.12%0.44%+42 bps
Allowance / Loans1.22%1.29%1.31%1.30%1.35%+13 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 Capital13.29%13.51%13.72%11.55%11.85%-145 bps
Equity / Assets10.09%11.26%10.60%8.53%8.52%-157 bps
Liquidity & Funding
Loans / Deposits85.39%88.71%83.77%83.98%79.98%-540 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a