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Farmers State Bank of Sherburn

Sherburn, MN · Cert 8217

FDIC

Q1 2011

$29.6MAssets
$14.7MLoans
$26.6MDeposits
$2.5MEquity
Loan mix
82%RE $8.0M11%C&I $1.1M7%Consumer $0.7MQ1 2010Q1 2011
Deposit mix
82%Interest-bearing $21.9M18%Noninterest $4.7MQ1 2010Q1 2011

NIM

5.03%Q1 ’094.44%Q1 ’103.71%Q1 ’11-9%-15%

Non-interest income vs. expense

2.52%Q1 ’092.68%Q1 ’102.61%Q1 ’11+6%-5%

Executive Summary

  • Earnings: ROA of 0.69%, down 31 bps year over year; NIM at 2.70%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.27%.
  • Funding: loans stand at 55.27% of deposits as of Q1 2011.

Financial Results

Return on Assets (quarter, annualized)

0.69%-31 bps YoY

Net Interest Margin (quarter, annualized)

2.70%-47 bps YoY

Efficiency Ratio (quarter, annualized)

79.44%+740 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2010Q2 2010Q3 2010Q4 2010Q1 2011YoY ΔTrend
Earnings
Return on Assets1.00%1.20%1.21%-0.28%0.69%-31 bps
Return on Equity12.07%14.62%14.35%-3.28%8.41%-366 bps
Net Interest Margin3.17%3.28%3.06%2.97%2.70%-47 bps
Efficiency Ratio72.03%67.88%67.77%108.03%79.44%+740 bps
Non-Interest Burden2.13%2.09%1.88%3.25%2.03%-11 bps
Growth
Asset Growth (YoY)3.43%7.92%5.65%0.82%1.41%-203 bps
Loan Growth (YoY)-3.67%-2.97%-5.49%-7.15%-14.98%-1,131 bps
Deposit Growth (YoY)3.80%8.81%6.33%0.98%1.21%-259 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.27%+27 bps
Allowance / Loans1.74%1.73%1.80%1.79%1.97%+24 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 Capital13.22%13.68%14.36%13.58%15.06%+184 bps
Equity / Assets8.20%8.18%8.62%8.21%8.30%+10 bps
Liquidity & Funding
Loans / Deposits65.80%64.99%64.68%63.88%55.27%-1,053 bps
Liquid Assets / Assets12.75%12.37%12.72%12.33%11.98%-76 bps
CRE / Total Capitaln/an/an/an/an/an/an/a