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Citizens First State Bank

Hartford City, IN · Cert 5782

FDIC

Q4 2004

$94.0MAssets
$70.1MLoans
$80.9MDeposits
$7.8MEquity
Loan mix
80%RE $30.8M19%C&I $7.4M0%Consumer $0.1MQ4 2003Q4 2004
Deposit mix
87%Interest-bearing $70.7M13%Noninterest $10.3MQ4 2003Q4 2004

NIM

6.83%Q4 ’025.74%Q4 ’035.16%Q4 ’04-11%-9%

Non-interest income vs. expense

3.54%Q4 ’023.55%Q4 ’033.79%Q4 ’04-1%+9%

Executive Summary

  • Earnings: ROA of 0.45%, down 50 bps year over year; NIM at 4.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.30%.
  • Funding: loans stand at 86.66% of deposits as of Q4 2004.

Financial Results

Return on Assets (YTD, annualized)

0.45%-50 bps YoY

Net Interest Margin (YTD, annualized)

4.09%-38 bps YoY

Efficiency Ratio (YTD, annualized)

77.30%+1,020 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets0.95%0.64%0.58%0.54%0.45%-50 bps
Return on Equity11.16%7.79%7.13%6.53%5.50%-566 bps
Net Interest Margin4.47%4.00%4.01%4.16%4.09%-38 bps
Efficiency Ratio67.10%74.23%75.96%76.83%77.30%+1,020 bps
Non-Interest Burden2.73%2.74%2.85%3.00%2.97%+24 bps
Growth
Asset Growth (YoY)7.81%-0.01%-5.56%-1.27%-4.78%-1,259 bps
Loan Growth (YoY)3.13%-2.20%-7.82%-5.93%-6.48%-962 bps
Deposit Growth (YoY)9.48%0.95%-6.73%3.62%-5.55%-1,504 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.29%0.31%0.28%0.31%0.30%0 bps
Allowance / Loans1.37%1.40%1.41%1.37%1.59%+22 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 Capital12.03%12.27%12.06%11.54%10.99%-104 bps
Equity / Assets8.05%8.31%8.22%8.27%8.32%+27 bps
Liquidity & Funding
Loans / Deposits87.52%88.19%89.38%89.75%86.66%-86 bps
Liquid Assets / Assets0.11%0.11%0.10%0.09%0.09%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a