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Union State Bank

Rockwell City, IA · Cert 8514

FDIC

Q4 2011

$38.2MAssets
$18.8MLoans
$32.1MDeposits
$5.5MEquity
Loan mix
59%RE $6.7M27%C&I $3.0M14%Consumer $1.6MQ4 2010Q4 2011
Deposit mix
80%Interest-bearing $25.9M20%Noninterest $6.3MQ4 2010Q4 2011

NIM

4.30%Q4 ’093.88%Q4 ’103.58%Q4 ’11-8%-4%

Non-interest income vs. expense

2.91%Q4 ’093.22%Q4 ’102.89%Q4 ’11+36%-13%

Executive Summary

  • Earnings: ROA of 1.49%, up 32 bps year over year; NIM at 3.19%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.04%.
  • Funding: loans stand at 58.47% of deposits as of Q4 2011.

Financial Results

Return on Assets (quarter, annualized)

1.49%+32 bps YoY

Net Interest Margin (quarter, annualized)

3.19%-12 bps YoY

Efficiency Ratio (quarter, annualized)

68.16%-479 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2010Q1 2011Q2 2011Q3 2011Q4 2011YoY ΔTrend
Earnings
Return on Assets1.17%1.26%1.52%1.69%1.49%+32 bps
Return on Equity8.12%9.00%10.78%11.57%10.19%+206 bps
Net Interest Margin3.31%2.90%3.09%3.22%3.19%-12 bps
Efficiency Ratio72.95%60.83%59.84%55.68%68.16%-479 bps
Non-Interest Burden2.11%1.61%1.53%1.45%1.84%-27 bps
Growth
Asset Growth (YoY)-0.89%2.25%1.40%0.05%5.24%+613 bps
Loan Growth (YoY)0.15%-9.53%-3.06%-5.98%-3.14%-329 bps
Deposit Growth (YoY)0.71%6.21%4.83%3.20%6.85%+614 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%-0.02%0.00%-0.04%-4 bps
Allowance / Loans1.65%1.76%1.70%1.74%1.72%+7 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 Capital23.61%23.67%24.39%24.78%24.67%+106 bps
Equity / Assets14.18%13.84%14.31%14.87%14.41%+23 bps
Liquidity & Funding
Loans / Deposits64.50%56.47%59.85%58.97%58.47%-603 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