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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

5.57%Q3 ’085.80%Q3 ’095.72%Q3 ’10+31%+13%

Non-interest income vs. expense

2.55%Q3 ’082.78%Q3 ’093.48%Q3 ’10+12%+15%

Executive Summary

  • Earnings: ROA of -5.25%, down 488 bps year over year; NIM at 3.62%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 7.53%.
  • Funding: loans stand at 92.60% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

-5.25%-488 bps YoY

Net Interest Margin (quarter, annualized)

3.62%+43 bps YoY

Efficiency Ratio (quarter, annualized)

97.65%+157 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets-0.38%-0.69%-2.59%-0.02%-5.25%-488 bps
Return on Equity-4.09%-7.89%-32.82%-0.23%-67.11%-6,302 bps
Net Interest Margin3.20%3.22%2.87%3.36%3.62%+43 bps
Efficiency Ratio96.08%88.87%96.93%91.84%97.65%+157 bps
Non-Interest Burden3.08%2.86%2.78%3.12%3.54%+46 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 / Loans0.54%0.29%0.76%-0.04%7.53%+700 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