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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

4.95%Q4 ’084.69%Q4 ’094.39%Q4 ’100%+3%

Non-interest income vs. expense

1.90%Q4 ’081.77%Q4 ’091.92%Q4 ’10-11%-1%

Executive Summary

  • Earnings: ROA of 1.60%, up 12 bps year over year; NIM at 3.07%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 86.64% of deposits as of Q4 2010.

Financial Results

Return on Assets (quarter, annualized)

1.60%+12 bps YoY

Net Interest Margin (quarter, annualized)

3.07%+8 bps YoY

Efficiency Ratio (quarter, annualized)

49.78%+94 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets1.48%1.24%1.41%1.19%1.60%+12 bps
Return on Equity16.36%13.40%14.83%12.55%16.97%+61 bps
Net Interest Margin2.98%2.98%3.05%3.16%3.07%+8 bps
Efficiency Ratio48.84%55.71%52.93%56.10%49.78%+94 bps
Non-Interest Burden1.32%1.55%1.49%1.65%1.31%-1 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 / Loans0.09%0.00%0.00%0.45%0.00%-9 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