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Security State Bank of Staples

Staples, MN · Cert 9334

FDIC

Q3 2006

$38.9MAssets
$27.4MLoans
$34.1MDeposits
$2.6MEquity
Loan mix
67%RE $14.8M32%C&I $7.1M1%Consumer $0.2MQ3 2005Q3 2006
Deposit mix
85%Interest-bearing $29.1M15%Noninterest $5.0MQ3 2005Q3 2006

NIM

5.48%Q3 ’045.46%Q3 ’056.05%Q3 ’06-5%-3%

Non-interest income vs. expense

3.22%Q3 ’043.33%Q3 ’053.12%Q3 ’06+4%-6%

Executive Summary

  • Earnings: ROA of 0.93%, down 17 bps year over year; NIM at 3.59%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.29%.
  • Funding: loans stand at 80.31% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

0.93%-17 bps YoY

Net Interest Margin (YTD, annualized)

3.59%-12 bps YoY

Efficiency Ratio (YTD, annualized)

72.59%-198 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets1.10%1.02%0.92%0.99%0.93%-17 bps
Return on Equity15.31%14.38%13.30%14.52%13.67%-164 bps
Net Interest Margin3.71%3.69%3.60%3.71%3.59%-12 bps
Efficiency Ratio74.57%75.63%74.37%72.65%72.59%-198 bps
Non-Interest Burden2.58%2.60%2.49%2.49%2.41%-16 bps
Growth
Asset Growth (YoY)3.18%6.33%6.96%5.52%6.63%+344 bps
Loan Growth (YoY)8.06%9.77%11.44%12.40%15.08%+702 bps
Deposit Growth (YoY)3.69%6.90%5.71%2.28%0.88%-281 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.05%0.06%0.38%0.29%+21 bps
Allowance / Loans1.36%1.40%1.40%1.27%1.29%-7 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 Capital13.83%13.55%13.84%13.14%12.70%-113 bps
Equity / Assets6.99%6.79%7.04%6.71%6.73%-26 bps
Liquidity & Funding
Loans / Deposits70.40%70.47%75.04%77.10%80.31%+991 bps
Liquid Assets / Assets0.69%0.67%0.68%0.66%0.00%-69 bps
CRE / Total Capitaln/an/an/an/an/an/an/a