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Letter portraitLegal landscapeQuarterYTD

State Bank of Caledonia

Caledonia, MI · Cert 9329

FDIC

Q1 2004

$238.5MAssets
$183.9MLoans
$171.5MDeposits
$57.5MEquity
Loan mix
42%RE $41.0M57%C&I $55.2M1%Consumer $0.6MQ1 2003Q1 2004
Deposit mix
88%Interest-bearing $150.9M12%Noninterest $20.6MQ1 2003Q1 2004

NIM

7.50%Q1 ’026.55%Q1 ’034.81%Q1 ’04-6%-10%

Non-interest income vs. expense

2.79%Q1 ’022.85%Q1 ’031.85%Q1 ’04-16%-7%

Executive Summary

  • Earnings: ROA of 1.34%, down 30 bps year over year; NIM at 3.91%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.26%.
  • Funding: loans stand at 107.23% of deposits as of Q1 2004.

Financial Results

Return on Assets (quarter, annualized)

1.34%-30 bps YoY

Net Interest Margin (quarter, annualized)

3.91%-45 bps YoY

Efficiency Ratio (quarter, annualized)

39.69%-1,149 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets1.63%1.88%0.80%-3.94%1.34%-30 bps
Return on Equity16.71%18.94%8.12%-23.40%5.72%-1,099 bps
Net Interest Margin4.36%4.48%4.30%-11.34%3.91%-45 bps
Efficiency Ratio51.18%48.10%63.89%82.27%39.69%-1,149 bps
Non-Interest Burden1.64%1.34%2.39%-4.06%1.53%-12 bps
Growth
Asset Growth (YoY)8.79%4.69%4.33%22.56%15.75%+696 bps
Loan Growth (YoY)8.34%2.46%1.90%2.12%0.90%-744 bps
Deposit Growth (YoY)8.67%5.57%3.91%4.43%-1.39%-1,006 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.15%0.08%1.30%-0.95%0.26%+11 bps
Allowance / Loans1.44%1.52%1.42%1.52%1.58%+13 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 Capital12.75%12.97%13.15%12.25%11.29%-146 bps
Equity / Assets9.97%9.88%9.88%22.60%24.12%+1,415 bps
Liquidity & Funding
Loans / Deposits104.79%100.72%99.68%105.06%107.23%+244 bps
Liquid Assets / Assets0.37%0.01%0.03%0.03%0.01%-36 bps
CRE / Total Capitaln/an/an/an/an/an/an/a