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Corridor State Bank

Coralville, IA · Cert 58284

FDIC

Q3 2010

$58.4MAssets
$47.3MLoans
$51.0MDeposits
$4.5MEquity
Loan mix
72%RE $30.4M28%C&I $12.1M0%Consumer $0.0MQ3 2009Q3 2010
Deposit mix
96%Interest-bearing $49.2M4%Noninterest $1.8MQ3 2009Q3 2010

NIM

5.21%Q3 ’085.50%Q3 ’095.98%Q3 ’10+33%+27%

Non-interest income vs. expense

2.54%Q3 ’082.76%Q3 ’093.26%Q3 ’10+8%+25%

Executive Summary

  • Earnings: ROA of -2.57%, down 228 bps year over year; NIM at 3.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.80%.
  • Funding: loans stand at 92.60% of deposits as of Q3 2010.

Financial Results

Return on Assets (YTD, annualized)

-2.57%-228 bps YoY

Net Interest Margin (YTD, annualized)

3.57%+75 bps YoY

Efficiency Ratio (YTD, annualized)

95.53%-159 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets-0.29%-0.39%-2.59%-1.33%-2.57%-228 bps
Return on Equity-3.04%-4.24%-32.82%-16.75%-32.70%-2,965 bps
Net Interest Margin2.81%2.78%2.87%3.12%3.57%+75 bps
Efficiency Ratio97.12%94.74%96.93%94.40%95.53%-159 bps
Non-Interest Burden2.73%2.63%2.78%2.96%3.41%+68 bps
Growth
Asset Growth (YoY)12.48%12.79%15.72%6.19%-10.64%-2,312 bps
Loan Growth (YoY)14.27%7.99%9.21%-2.86%-17.71%-3,198 bps
Deposit Growth (YoY)21.44%21.95%26.30%14.20%-6.05%-2,749 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.26%0.27%0.76%0.39%2.80%+254 bps
Allowance / Loans1.18%1.41%2.07%2.34%2.48%+131 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 Capital11.45%11.22%10.53%11.50%10.80%-65 bps
Equity / Assets8.93%8.52%7.32%7.98%7.65%-128 bps
Liquidity & Funding
Loans / Deposits105.72%99.75%89.19%90.39%92.60%-1,312 bps
Liquid Assets / Assets1.81%4.75%5.28%5.30%2.23%+43 bps
CRE / Total Capitaln/an/an/an/an/an/an/a