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Letter portraitLegal landscapeQuarterYTD

State Bank of Waverly

Waverly, IA · Cert 8103

FDIC

Q2 2011

$144.8MAssets
$49.6MLoans
$121.9MDeposits
$20.7MEquity
Loan mix
77%RE $25.5M20%C&I $6.5M3%Consumer $1.0MQ2 2010Q2 2011
Deposit mix
85%Interest-bearing $103.7M15%Noninterest $18.2MQ2 2010Q2 2011

NIM

5.09%Q2 ’094.65%Q2 ’103.61%Q2 ’11-6%-24%

Non-interest income vs. expense

2.93%Q2 ’092.69%Q2 ’102.68%Q2 ’11-9%-5%

Executive Summary

  • Earnings: ROA of 0.71%, down 72 bps year over year; NIM at 2.87%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 40.70% of deposits as of Q2 2011.

Financial Results

Return on Assets (YTD, annualized)

0.71%-72 bps YoY

Net Interest Margin (YTD, annualized)

2.87%-91 bps YoY

Efficiency Ratio (YTD, annualized)

75.40%+1,222 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2010Q3 2010Q4 2010Q1 2011Q2 2011YoY ΔTrend
Earnings
Return on Assets1.43%1.34%0.00%0.60%0.71%-72 bps
Return on Equity9.17%8.44%0.00%4.55%5.27%-391 bps
Net Interest Margin3.79%3.78%0.02%2.76%2.87%-91 bps
Efficiency Ratio63.18%65.06%86.67%77.96%75.40%+1,222 bps
Non-Interest Burden2.22%2.29%0.02%2.10%2.10%-11 bps
Growth
Asset Growth (YoY)6.55%6.77%4.62%2.53%-0.14%-670 bps
Loan Growth (YoY)-9.04%-10.55%-16.98%-12.81%-4.17%+487 bps
Deposit Growth (YoY)5.20%6.39%8.76%4.26%1.58%-362 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.17%0.19%0.00%0.00%0.00%-17 bps
Allowance / Loans1.89%1.91%0.00%0.02%0.05%-184 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 Capital28.04%28.11%16.67%16.43%15.44%-1,260 bps
Equity / Assets16.21%16.83%13.07%13.19%14.27%-195 bps
Liquidity & Funding
Loans / Deposits43.14%43.62%39.25%39.06%40.70%-244 bps
Liquid Assets / Assets0.44%0.84%2.77%1.73%0.26%-18 bps
CRE / Total Capitaln/an/an/an/an/an/an/a