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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 $0.6MQ1 2021Q4 2022
Deposit mix
76%Interest-bearing $82.3M24%Noninterest $26.4MQ1 2021Q4 2022

Executive Summary

  • Earnings: ROA of 0.83%, up 791 bps year over year; NIM at 3.36%.
  • 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.

Return on Assets (quarter, annualized)

0.83%+791 bps YoY

Net Interest Margin (quarter, annualized)

3.36%+1,262 bps YoY

Efficiency Ratio (quarter, annualized)

56.68%+5,668 bps YoY

Tier 1 Leverage Ratio

9.75%-355 bps YoY

NIM

3.84%Q4 ’20-10.04%Q4 ’214.05%Q4 ’22-366%+136%

Non-interest income vs. expense

1.13%Q4 ’20-4.42%Q4 ’211.97%Q4 ’22-487%+148%

Discrete quarter, annualized.

MetricQ1 2021Q2 2021Q3 2021Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022YoY ΔTrend
Earnings
Return on Assets3.68%2.57%1.17%-7.08%0.78%0.66%1.30%0.83%+791 bps
Return on Equity16.55%11.30%5.19%-39.43%5.88%5.13%10.97%7.62%+4,705 bps
Net Interest Margin3.97%3.19%2.95%-9.26%2.27%3.04%3.07%3.36%+1,262 bps
Efficiency Ratio35.73%41.23%60.75%0.00%55.74%52.59%43.36%56.68%+5,668 bps
Non-Interest Burden1.46%1.03%1.76%-3.97%1.16%1.76%1.25%1.92%+589 bps
Growth
Asset Growth (YoY)6.07%8.66%8.50%-0.22%12.75%3.82%6.13%22.69%+2,291 bps
Loan Growth (YoY)-7.14%-9.04%-9.31%-19.50%-19.76%-21.84%-20.68%-3.61%+1,589 bps
Deposit Growth (YoY)6.78%10.12%10.40%9.98%27.14%16.87%22.03%26.44%+1,646 bps
Asset Quality
Nonperforming Loans / Loans0.16%0.00%0.00%0.00%0.00%0.02%0.02%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.01%0.82%0.84%0.00%0.00%0.13%0.15%0.21%+21 bps
Allowance Coverage of NPLs6.3xn/an/an/an/a5.5x7.0xn/an/a
Capital
Tier 1 Leverage Ratio22.78%22.81%22.79%13.30%8.35%9.28%9.35%9.75%-355 bps
Total Risk-Based Capital35.64%34.76%34.66%13.30%8.35%9.28%9.35%9.75%-355 bps
Equity / Assets22.74%22.71%22.34%13.69%12.88%13.03%10.73%11.02%-266 bps
Liquidity & Funding
Loans / Deposits80.37%81.84%79.07%56.77%50.73%54.74%51.40%43.27%-1,349 bps
Liquid Assets / Assets26.57%26.11%25.54%38.79%44.47%25.19%23.43%25.68%-1,311 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a