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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

6.38%Q4 ’025.47%Q4 ’035.16%Q4 ’04-9%-6%

Non-interest income vs. expense

4.04%Q4 ’023.85%Q4 ’033.83%Q4 ’04-5%-2%

Executive Summary

  • Earnings: ROA of 0.20%, down 41 bps year over year; NIM at 4.07%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.21%.
  • Funding: loans stand at 86.66% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

0.20%-41 bps YoY

Net Interest Margin (quarter, annualized)

4.07%-28 bps YoY

Efficiency Ratio (quarter, annualized)

78.75%+330 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets0.61%0.64%0.53%0.44%0.20%-41 bps
Return on Equity7.41%7.79%6.44%5.38%2.41%-500 bps
Net Interest Margin4.36%4.00%3.92%4.19%4.07%-28 bps
Efficiency Ratio75.45%74.23%77.83%78.57%78.75%+330 bps
Non-Interest Burden3.10%2.74%2.88%3.13%3.04%-6 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 / Loans0.52%0.31%0.25%0.38%0.21%-31 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