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State Bank of Loretto

Loretto, MN · Cert 8215

FDIC

Q2 2004

$98.9MAssets
$91.2MLoans
$70.7MDeposits
$9.1MEquity
Loan mix
73%RE $40.7M27%C&I $15.1M0%Consumer $0.2MQ2 2003Q2 2004
Deposit mix
91%Interest-bearing $64.0M9%Noninterest $6.7MQ2 2003Q2 2004

NIM

7.39%Q2 ’027.14%Q2 ’036.14%Q2 ’04+6%-13%

Non-interest income vs. expense

2.55%Q2 ’022.16%Q2 ’032.76%Q2 ’04-15%+32%

Executive Summary

  • Earnings: ROA of 1.56%, down 81 bps year over year; NIM at 4.08%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 129.03% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

1.56%-81 bps YoY

Net Interest Margin (quarter, annualized)

4.08%-60 bps YoY

Efficiency Ratio (quarter, annualized)

63.31%+1,978 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets2.37%2.53%1.50%-0.16%1.56%-81 bps
Return on Equity31.00%32.81%18.76%-1.90%17.70%-1,330 bps
Net Interest Margin4.68%4.29%3.84%4.25%4.08%-60 bps
Efficiency Ratio43.53%44.46%44.86%69.63%63.31%+1,978 bps
Non-Interest Burden1.88%1.76%1.60%2.88%2.48%+60 bps
Growth
Asset Growth (YoY)38.08%17.55%14.88%-2.49%-13.64%-5,172 bps
Loan Growth (YoY)38.42%15.92%9.33%-0.81%-12.83%-5,125 bps
Deposit Growth (YoY)36.52%17.19%17.89%-2.55%-17.41%-5,393 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.06%-0.01%0.08%0.01%0.04%-2 bps
Allowance / Loans1.00%1.03%1.27%1.69%1.80%+80 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 Capital10.82%11.43%11.09%10.72%12.58%+176 bps
Equity / Assets7.57%7.83%8.12%8.48%9.23%+166 bps
Liquidity & Funding
Loans / Deposits122.24%120.03%114.19%123.94%129.03%+678 bps
Liquid Assets / Assets0.79%2.52%2.21%1.49%0.72%-7 bps
CRE / Total Capitaln/an/an/an/an/an/an/a