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Farmers Savings Bank

Remsen, IA · Cert 9297

FDIC

Q4 2013

$117.6MAssets
$85.4MLoans
$94.8MDeposits
$19.8MEquity
Loan mix
94%RE $66.0M6%C&I $4.0M1%Consumer $0.5MQ4 2012Q4 2013
Deposit mix
91%Interest-bearing $86.8M9%Noninterest $8.1MQ4 2012Q4 2013

NIM

4.78%Q4 ’113.65%Q4 ’123.90%Q4 ’13-19%+22%

Non-interest income vs. expense

0.96%Q4 ’110.90%Q4 ’121.12%Q4 ’13+79%+30%

Executive Summary

  • Earnings: ROA of 1.49%, up 20 bps year over year; NIM at 3.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 90.07% of deposits as of Q4 2013.

Financial Results

Return on Assets (quarter, annualized)

1.49%+20 bps YoY

Net Interest Margin (quarter, annualized)

3.39%+60 bps YoY

Efficiency Ratio (quarter, annualized)

28.71%+112 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2012Q1 2013Q2 2013Q3 2013Q4 2013YoY ΔTrend
Earnings
Return on Assets1.29%1.34%1.42%1.59%1.49%+20 bps
Return on Equity8.63%8.90%9.06%9.60%8.75%+12 bps
Net Interest Margin2.79%2.87%3.02%3.35%3.39%+60 bps
Efficiency Ratio27.59%31.18%30.28%28.89%28.71%+112 bps
Non-Interest Burden0.73%0.81%0.78%0.92%0.94%+21 bps
Growth
Asset Growth (YoY)-3.31%-7.42%-8.76%-8.19%-9.16%-585 bps
Loan Growth (YoY)-6.53%-1.76%5.87%7.09%1.32%+785 bps
Deposit Growth (YoY)-4.40%-9.18%-10.19%-9.98%-13.63%-924 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%0.00%0.00%0 bps
Allowance / Loans1.22%1.33%1.41%1.38%1.32%+10 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 Capital16.82%18.66%18.97%18.85%18.53%+170 bps
Equity / Assets14.72%15.34%16.01%17.09%16.85%+213 bps
Liquidity & Funding
Loans / Deposits76.78%74.33%78.29%83.97%90.07%+1,330 bps
Liquid Assets / Assets11.70%10.90%3.41%1.42%0.81%-1,089 bps
CRE / Total Capitaln/an/an/an/an/an/an/a