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Letter portraitLegal landscapeQuarterYTD

Farmers State Bank

Eustis, NE · Cert 8597

FDIC

Q3 2004

$28.1MAssets
$17.5MLoans
$24.2MDeposits
$3.5MEquity
Deposit mix
90%Interest-bearing $21.8M10%Noninterest $2.4MQ3 2003Q3 2004

NIM

6.24%Q3 ’025.28%Q3 ’034.93%Q3 ’04-5%0%

Non-interest income vs. expense

2.42%Q3 ’022.32%Q3 ’032.49%Q3 ’04-4%+3%

Executive Summary

  • Earnings: ROA of 0.69%, down 54 bps year over year; NIM at 3.33%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 72.42% of deposits as of Q3 2004.

Financial Results

Return on Assets (YTD, annualized)

0.69%-54 bps YoY

Net Interest Margin (YTD, annualized)

3.33%0 bps YoY

Efficiency Ratio (YTD, annualized)

64.57%+260 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets1.23%0.80%0.85%0.81%0.69%-54 bps
Return on Equity10.13%6.70%7.41%7.06%5.86%-427 bps
Net Interest Margin3.33%3.24%3.15%3.06%3.33%0 bps
Efficiency Ratio61.98%73.55%63.81%65.49%64.57%+260 bps
Non-Interest Burden1.91%2.28%1.89%1.82%1.96%+5 bps
Growth
Asset Growth (YoY)2.47%1.26%3.43%2.29%-1.67%-414 bps
Loan Growth (YoY)5.38%3.97%-1.27%-5.23%-1.12%-650 bps
Deposit Growth (YoY)2.37%2.19%5.19%4.64%-0.59%-296 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.29%0.21%0.00%0.03%0.00%-29 bps
Allowance / Loans1.56%1.67%1.78%1.78%1.60%+3 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 Capital17.75%17.37%18.16%18.60%17.93%+18 bps
Equity / Assets12.52%11.42%11.58%11.54%12.30%-22 bps
Liquidity & Funding
Loans / Deposits72.81%65.71%61.43%61.31%72.42%-38 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