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First National Bank, Valparaiso

Valparaiso, IN · Cert 8057

FDIC

Q1 2008

$693.9MAssets
$242.5MLoans
$537.4MDeposits
$133.7MEquity
Loan mix
99%RE $138.3M1%C&I $0.8M0%Consumer $0.3MQ1 2007Q1 2008
Deposit mix
88%Interest-bearing $475.5M12%Noninterest $61.9MQ1 2007Q1 2008

NIM

5.21%Q1 ’065.61%Q1 ’074.00%Q1 ’08+0%-35%

Non-interest income vs. expense

2.86%Q1 ’062.93%Q1 ’072.11%Q1 ’08+1%-25%

Executive Summary

  • Earnings: ROA of 0.28%, down 93 bps year over year; NIM at 2.08%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 45.13% of deposits as of Q1 2008.

Financial Results

Return on Assets (YTD, annualized)

0.28%-93 bps YoY

Net Interest Margin (YTD, annualized)

2.08%-112 bps YoY

Efficiency Ratio (YTD, annualized)

74.45%-225 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets1.21%0.08%0.09%0.11%0.28%-93 bps
Return on Equity10.94%0.61%0.57%0.69%1.41%-953 bps
Net Interest Margin3.20%0.49%1.12%1.48%2.08%-112 bps
Efficiency Ratio76.70%74.45%84.10%78.99%74.45%-225 bps
Non-Interest Burden2.31%0.39%1.03%1.27%1.74%-57 bps
Growth
Asset Growth (YoY)-4.39%16.55%7.88%8.75%14.06%+1,846 bps
Loan Growth (YoY)10.17%9.11%5.54%5.59%1.98%-819 bps
Deposit Growth (YoY)-3.05%7.04%-2.48%-2.07%4.75%+781 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.02%0.19%0.19%0.01%-2 bps
Allowance / Loans1.03%1.05%0.91%1.15%1.16%+13 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 Capital24.08%22.23%22.94%24.12%23.08%-101 bps
Equity / Assets11.12%18.32%19.81%20.17%19.27%+815 bps
Liquidity & Funding
Loans / Deposits46.35%42.74%47.41%49.08%45.13%-123 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a