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Farmers Security Bank

Washburn, ND · Cert 9122

FDIC · 1 branch

Q4 2021

$72.7MAssets
$36.7MLoans
$65.9MDeposits
$6.7MEquity
Loan mix
72%RE $19.7M17%C&I $4.5M12%Consumer $3.2MQ1 2020Q4 2021
Deposit mix
76%Interest-bearing $50.2M24%Noninterest $15.7MQ1 2020Q4 2021

Executive Summary

  • Earnings: ROA of 0.20%, up 8 bps year over year; NIM at 2.60%.
  • Asset quality: problem loans at 0.00% of loans (-59 bps YoY), with net charge-offs at 0.46%.
  • Capital: tier 1 leverage ratio of 9.22%, down 99 bps from a year ago.
  • Funding: loans stand at 55.67% of deposits as of Q4 2021.

Return on Assets (quarter, annualized)

0.20%+8 bps YoY

Net Interest Margin (quarter, annualized)

2.60%-52 bps YoY

Efficiency Ratio (quarter, annualized)

92.49%+37 bps YoY

Tier 1 Leverage Ratio

9.22%-99 bps YoY

NIM

4.42%Q4 ’193.56%Q4 ’202.88%Q4 ’21-19%-17%

Non-interest income vs. expense

3.46%Q4 ’193.29%Q4 ’202.60%Q4 ’21-15%-16%

Discrete quarter, annualized.

MetricQ1 2020Q2 2020Q3 2020Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021YoY ΔTrend
Earnings
Return on Assets0.99%1.24%0.95%0.12%0.90%1.28%0.45%0.20%+8 bps
Return on Equity9.06%11.39%8.50%1.11%9.18%13.11%4.44%2.10%+99 bps
Net Interest Margin3.35%3.78%3.36%3.12%3.22%3.44%2.84%2.60%-52 bps
Efficiency Ratio63.32%59.38%65.57%92.12%65.75%57.10%74.11%92.49%+37 bps
Non-Interest Burden2.03%2.07%2.06%2.84%2.02%1.81%2.04%2.39%-45 bps
Growth
Asset Growth (YoY)1.82%9.45%9.70%16.66%17.93%15.11%13.06%7.94%-872 bps
Loan Growth (YoY)-6.75%-5.59%-4.65%-7.49%6.14%1.59%5.99%12.67%+2,016 bps
Deposit Growth (YoY)1.59%11.16%17.91%17.90%19.50%16.54%14.58%9.19%-872 bps
Asset Quality
Nonperforming Loans / Loans0.27%0.23%0.21%0.59%0.26%0.24%0.23%0.00%-59 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.41%-0.02%0.07%0.46%+46 bps
Allowance / Loans1.65%1.53%1.56%1.80%1.62%1.57%1.60%1.58%-22 bps
Allowance Coverage of NPLs6.2x6.7x7.4x3.1x6.1x6.5x6.9xn/an/a
Capital
Tier 1 Leverage Ratio10.62%10.80%10.68%10.21%9.46%9.66%9.90%9.22%-99 bps
Total Risk-Based Capital10.62%10.80%10.68%10.21%9.46%9.66%9.90%9.22%-99 bps
Equity / Assets10.72%11.11%11.17%10.15%9.53%10.00%10.10%9.23%-92 bps
Liquidity & Funding
Loans / Deposits60.35%67.04%67.58%53.95%53.61%58.44%62.52%55.67%+172 bps
Liquid Assets / Assets7.18%7.14%6.75%6.14%5.41%5.86%4.91%4.67%-146 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a