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First State Bank

Nora Springs, IA · Cert 8093

FDIC

Q3 2009

$86.3MAssets
$53.3MLoans
$72.8MDeposits
$9.2MEquity
Loan mix
88%RE $30.6M11%C&I $3.9M0%Consumer $0.2MQ3 2008Q3 2009
Deposit mix
83%Interest-bearing $60.3M17%Noninterest $12.4MQ3 2008Q3 2009

NIM

6.37%Q3 ’075.63%Q3 ’084.99%Q3 ’09+3%-10%

Non-interest income vs. expense

2.66%Q3 ’072.44%Q3 ’082.01%Q3 ’09-8%-17%

Executive Summary

  • Earnings: ROA of 1.29%, down 41 bps year over year; NIM at 3.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.49%.
  • Funding: loans stand at 73.23% of deposits as of Q3 2009.

Financial Results

Return on Assets (quarter, annualized)

1.29%-41 bps YoY

Net Interest Margin (quarter, annualized)

3.40%-38 bps YoY

Efficiency Ratio (quarter, annualized)

52.06%-398 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2008Q4 2008Q1 2009Q2 2009Q3 2009YoY ΔTrend
Earnings
Return on Assets1.70%1.14%1.56%0.50%1.29%-41 bps
Return on Equity15.88%10.38%13.80%4.47%12.00%-387 bps
Net Interest Margin3.78%3.74%3.83%3.54%3.40%-38 bps
Efficiency Ratio56.04%68.22%59.21%63.05%52.06%-398 bps
Non-Interest Burden1.95%2.45%2.13%2.11%1.62%-32 bps
Growth
Asset Growth (YoY)57.74%49.94%1.80%7.17%11.92%-4,582 bps
Loan Growth (YoY)36.39%30.48%5.24%5.50%5.67%-3,072 bps
Deposit Growth (YoY)64.69%55.42%2.60%8.87%15.14%-4,956 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.22%0.10%0.31%1.49%+138 bps
Allowance / Loans1.25%1.27%1.23%1.47%1.23%-2 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 Capital12.33%12.68%12.87%12.56%12.54%+21 bps
Equity / Assets10.84%11.15%11.52%10.89%10.64%-20 bps
Liquidity & Funding
Loans / Deposits79.79%75.26%78.88%75.65%73.23%-656 bps
Liquid Assets / Assets0.19%0.07%0.09%0.12%2.94%+275 bps
CRE / Total Capitaln/an/an/an/an/an/an/a