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First State Bank

Fountain City, WI · Cert 9041

FDIC

Q2 2004

$21.3MAssets
$12.5MLoans
$19.2MDeposits
$1.8MEquity
Loan mix
50%RE $4.0M49%C&I $3.9M1%Consumer $0.0MQ2 2003Q2 2004
Deposit mix
89%Interest-bearing $17.0M11%Noninterest $2.1MQ2 2003Q2 2004

NIM

6.16%Q2 ’025.42%Q2 ’034.72%Q2 ’04-3%-11%

Non-interest income vs. expense

2.75%Q2 ’022.86%Q2 ’032.87%Q2 ’04+6%0%

Executive Summary

  • Earnings: ROA of 0.58%, down 22 bps year over year; NIM at 3.29%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 65.23% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

0.58%-22 bps YoY

Net Interest Margin (quarter, annualized)

3.29%-40 bps YoY

Efficiency Ratio (quarter, annualized)

81.58%+818 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets0.81%0.75%0.34%0.69%0.58%-22 bps
Return on Equity6.64%6.16%2.88%5.94%5.81%-84 bps
Net Interest Margin3.69%3.52%3.50%3.29%3.29%-40 bps
Efficiency Ratio73.40%75.25%93.56%78.19%81.58%+818 bps
Non-Interest Burden2.65%2.60%3.26%2.53%2.65%-1 bps
Growth
Asset Growth (YoY)3.15%3.87%4.57%2.52%2.17%-98 bps
Loan Growth (YoY)-1.30%-3.45%-6.18%-3.23%-3.04%-174 bps
Deposit Growth (YoY)3.35%4.64%5.40%3.19%5.23%+188 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.19%0.00%0 bps
Allowance / Loans1.31%1.36%1.42%1.31%1.30%-1 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 Capital19.37%19.98%19.74%19.33%14.05%-532 bps
Equity / Assets12.10%12.18%11.55%11.80%8.24%-386 bps
Liquidity & Funding
Loans / Deposits70.79%68.49%63.24%66.47%65.23%-556 bps
Liquid Assets / Assets15.39%16.19%14.42%14.42%11.19%-420 bps
CRE / Total Capitaln/an/an/an/an/an/an/a