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State Bank of Wheaton

Wheaton, MN · Cert 8827

FDIC · 1 branch

Q4 2022

$122.3MAssets
$47.0MLoans
$108.7MDeposits
$13.5MEquity
Loan mix
86%RE $23.3M12%C&I $3.2M2%Consumer $0.6MQ4 2021Q4 2022
Deposit mix
76%Interest-bearing $82.3M24%Noninterest $26.4MQ4 2021Q4 2022

NIM

4.16%Q4 ’200.04%Q4 ’213.18%Q4 ’22-99%+7822%

Non-interest income vs. expense

1.53%Q4 ’200.00%Q4 ’211.65%Q4 ’22-100%+39149%

Executive Summary

  • Earnings: ROA of 0.88%, up 83 bps year over year; NIM at 2.93%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.75%, down 355 bps from a year ago.
  • Funding: loans stand at 43.27% of deposits as of Q4 2022.

Financial Results

Return on Assets (YTD, annualized)

0.88%+83 bps YoY

Net Interest Margin (YTD, annualized)

2.93%+290 bps YoY

Efficiency Ratio (YTD, annualized)

51.81%+5,181 bps YoY

Tier 1 Leverage Ratio

9.75%-355 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2021Q1 2022Q2 2022Q3 2022Q4 2022YoY ΔTrend
Earnings
Return on Assets0.05%0.78%0.73%0.92%0.88%+83 bps
Return on Equity0.25%5.88%5.55%7.28%7.23%+697 bps
Net Interest Margin0.04%2.27%2.69%2.75%2.93%+290 bps
Efficiency Ratio0.00%55.74%54.00%49.93%51.81%+5,181 bps
Non-Interest Burden0.00%1.16%1.48%1.37%1.52%+153 bps
Growth
Asset Growth (YoY)-0.22%12.75%3.82%6.13%22.69%+2,291 bps
Loan Growth (YoY)-19.50%-19.76%-21.84%-20.68%-3.61%+1,589 bps
Deposit Growth (YoY)9.98%27.14%16.87%22.03%26.44%+1,646 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.02%0.02%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.00%0.00%0.13%0.15%0.21%+21 bps
Allowance Coverage of NPLsn/an/a5.5x7.0xn/an/a
Capital
Tier 1 Leverage Ratio13.30%8.35%9.28%9.35%9.75%-355 bps
Total Risk-Based Capital13.30%8.35%9.28%9.35%9.75%-355 bps
Equity / Assets13.69%12.88%13.03%10.73%11.02%-266 bps
Liquidity & Funding
Loans / Deposits56.77%50.73%54.74%51.40%43.27%-1,349 bps
Liquid Assets / Assets38.79%44.47%25.19%23.43%25.68%-1,311 bps
CRE / Total Capitaln/an/an/an/an/an/an/a