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First State Bank, Canisteo, N.Y.

Canisteo, NY · Cert 591

FDIC

Q2 2010

$53.4MAssets
$13.6MLoans
$44.3MDeposits
$7.7MEquity
Loan mix
86%RE $10.7M13%C&I $1.7M0%Consumer $0.0MQ2 2009Q2 2010
Deposit mix
80%Interest-bearing $35.3M20%Noninterest $9.0MQ2 2009Q2 2010

NIM

4.29%Q2 ’083.46%Q2 ’093.10%Q2 ’10-19%-6%

Non-interest income vs. expense

3.85%Q2 ’083.06%Q2 ’092.55%Q2 ’10-23%-17%

Executive Summary

  • Earnings: ROA of 0.24%, up 17 bps year over year; NIM at 2.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.12%.
  • Funding: loans stand at 30.79% of deposits as of Q2 2010.

Financial Results

Return on Assets (quarter, annualized)

0.24%+17 bps YoY

Net Interest Margin (quarter, annualized)

2.13%-13 bps YoY

Efficiency Ratio (quarter, annualized)

90.03%-840 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets0.07%-0.89%0.24%10.10%0.24%+17 bps
Return on Equity0.49%-6.03%1.60%0.69%1.73%+124 bps
Net Interest Margin2.26%2.31%2.12%2.06%2.13%-13 bps
Efficiency Ratio98.43%86.92%93.00%92.57%90.03%-840 bps
Non-Interest Burden2.31%2.00%2.02%1.93%1.93%-38 bps
Growth
Asset Growth (YoY)7.43%8.53%5.30%5.93%5.81%-162 bps
Loan Growth (YoY)-13.77%-11.73%-11.99%-6.99%-7.26%+652 bps
Deposit Growth (YoY)6.98%9.98%6.81%5.75%6.55%-43 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.19%0.00%0.09%0.00%-0.12%-31 bps
Allowance / Loans1.03%1.05%1.09%1.06%1.14%+10 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 Capital23.37%23.43%24.73%23.60%24.80%+143 bps
Equity / Assets14.63%14.88%14.73%13.74%14.42%-21 bps
Liquidity & Funding
Loans / Deposits35.37%34.96%32.62%31.19%30.79%-458 bps
Liquid Assets / Assets0.34%0.82%0.46%0.79%0.89%+55 bps
CRE / Total Capitaln/an/an/an/an/an/an/a