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Farmers State Bank

Schleswig, IA · Cert 5801

FDIC

Q4 2010

$144.6MAssets
$94.0MLoans
$108.6MDeposits
$13.9MEquity
Loan mix
82%RE $43.8M17%C&I $9.3M0%Consumer $0.0MQ4 2009Q4 2010
Deposit mix
88%Interest-bearing $95.4M12%Noninterest $13.1MQ4 2009Q4 2010

NIM

5.24%Q4 ’084.66%Q4 ’094.35%Q4 ’10-4%+6%

Non-interest income vs. expense

1.84%Q4 ’082.00%Q4 ’091.95%Q4 ’10+5%-4%

Executive Summary

  • Earnings: ROA of 1.37%, up 19 bps year over year; NIM at 3.00%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.12%.
  • Funding: loans stand at 86.64% of deposits as of Q4 2010.

Financial Results

Return on Assets (YTD, annualized)

1.37%+19 bps YoY

Net Interest Margin (YTD, annualized)

3.00%+16 bps YoY

Efficiency Ratio (YTD, annualized)

53.56%-405 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets1.17%1.24%1.33%1.28%1.37%+19 bps
Return on Equity12.62%13.40%14.15%13.63%14.48%+186 bps
Net Interest Margin2.84%2.98%2.97%3.04%3.00%+16 bps
Efficiency Ratio57.60%55.71%54.28%54.91%53.56%-405 bps
Non-Interest Burden1.52%1.55%1.50%1.55%1.47%-6 bps
Growth
Asset Growth (YoY)4.23%4.71%2.75%4.28%2.51%-172 bps
Loan Growth (YoY)3.95%3.06%2.49%2.84%-2.14%-609 bps
Deposit Growth (YoY)9.50%6.64%3.03%5.22%3.49%-601 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.00%0.00%0.15%0.12%+5 bps
Allowance / Loans0.77%0.82%0.84%0.81%0.87%+9 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 Capital10.81%11.75%11.72%11.30%12.22%+141 bps
Equity / Assets9.23%9.31%9.77%9.26%9.63%+40 bps
Liquidity & Funding
Loans / Deposits91.62%86.95%91.73%86.61%86.64%-498 bps
Liquid Assets / Assets3.23%7.65%1.33%5.18%3.58%+35 bps
CRE / Total Capitaln/an/an/an/an/an/an/a