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First Farmers & Merchants National Bank

Le Sueur, MN · Cert 8855

FDIC

Q2 2013

$111.6MAssets
$76.7MLoans
$92.3MDeposits
$14.1MEquity
Loan mix
79%RE $44.5M18%C&I $10.1M4%Consumer $2.1MQ2 2012Q2 2013
Deposit mix
84%Interest-bearing $77.9M16%Noninterest $14.5MQ2 2012Q2 2013

NIM

4.45%Q2 ’114.36%Q2 ’124.16%Q2 ’13+4%-2%

Non-interest income vs. expense

2.97%Q2 ’113.02%Q2 ’122.98%Q2 ’13-36%-1%

Executive Summary

  • Earnings: ROA of 1.40%, down 12 bps year over year; NIM at 3.75%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.39%.
  • Funding: loans stand at 83.06% of deposits as of Q2 2013.

Financial Results

Return on Assets (quarter, annualized)

1.40%-12 bps YoY

Net Interest Margin (quarter, annualized)

3.75%-8 bps YoY

Efficiency Ratio (quarter, annualized)

66.94%+66 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2012Q3 2012Q4 2012Q1 2013Q2 2013YoY ΔTrend
Earnings
Return on Assets1.52%1.42%1.36%-1.06%1.40%-12 bps
Return on Equity11.83%10.84%10.57%-8.33%10.88%-95 bps
Net Interest Margin3.83%3.79%3.63%3.86%3.75%-8 bps
Efficiency Ratio66.28%66.39%68.09%67.37%66.94%+66 bps
Non-Interest Burden2.29%2.28%2.24%2.27%2.28%-1 bps
Growth
Asset Growth (YoY)2.47%2.37%9.03%0.43%1.92%-55 bps
Loan Growth (YoY)4.27%1.98%5.20%1.27%4.31%+4 bps
Deposit Growth (YoY)-1.82%0.72%9.89%3.37%0.88%+271 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.07%1.22%-0.04%4.82%0.39%+46 bps
Allowance / Loans1.70%1.46%1.46%1.28%1.12%-57 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 Capital13.91%14.42%14.47%14.10%13.84%-7 bps
Equity / Assets12.86%13.26%12.41%13.08%12.68%-18 bps
Liquidity & Funding
Loans / Deposits80.34%77.33%72.03%77.97%83.06%+273 bps
Liquid Assets / Assets3.66%3.76%9.37%7.09%5.99%+233 bps
CRE / Total Capitaln/an/an/an/an/an/an/a