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Security Savings Bank

Eagle Grove, IA · Cert 5795

FDIC · 4 branches

Q4 2014

$117.0MAssets
$78.2MLoans
$95.0MDeposits
$13.1MEquity
Loan mix
33%RE $16.2M65%C&I $31.6M1%Consumer $0.5MQ4 2013Q4 2014
Deposit mix
79%Interest-bearing $75.3M21%Noninterest $19.8MQ4 2013Q4 2014

NIM

4.16%Q4 ’123.88%Q4 ’134.04%Q4 ’14-4%+10%

Non-interest income vs. expense

2.02%Q4 ’122.09%Q4 ’132.45%Q4 ’14+10%+15%

Executive Summary

  • Earnings: ROA of 1.22%, up 3 bps year over year; NIM at 3.52%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.43%.
  • Funding: loans stand at 82.30% of deposits as of Q4 2014.

Financial Results

Return on Assets (quarter, annualized)

1.22%+3 bps YoY

Net Interest Margin (quarter, annualized)

3.52%+33 bps YoY

Efficiency Ratio (quarter, annualized)

64.30%+297 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2013Q1 2014Q2 2014Q3 2014Q4 2014YoY ΔTrend
Earnings
Return on Assets1.19%1.34%1.23%1.47%1.22%+3 bps
Return on Equity11.80%12.88%11.49%13.22%10.77%-103 bps
Net Interest Margin3.19%3.38%3.36%3.69%3.52%+33 bps
Efficiency Ratio61.33%59.09%62.14%58.66%64.30%+297 bps
Non-Interest Burden1.87%1.88%2.00%2.05%2.16%+29 bps
Growth
Asset Growth (YoY)-7.86%-9.09%-6.28%-7.50%-1.84%+602 bps
Loan Growth (YoY)11.94%4.13%5.85%0.81%-12.18%-2,411 bps
Deposit Growth (YoY)-9.43%-11.00%-8.25%-11.07%-3.06%+637 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.43%+43 bps
Allowance / Loans1.42%1.57%1.52%1.57%1.66%+24 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 Capital13.12%14.28%13.71%14.13%15.21%+210 bps
Equity / Assets10.26%10.61%10.84%11.43%11.17%+91 bps
Liquidity & Funding
Loans / Deposits90.85%83.88%91.24%95.69%82.30%-855 bps
Liquid Assets / Assets0.16%5.93%2.93%0.27%0.71%+55 bps
CRE / Total Capitaln/an/an/an/an/an/an/a