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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

5.60%Q3 ’045.88%Q3 ’056.33%Q3 ’06-2%-10%

Non-interest income vs. expense

3.18%Q3 ’043.35%Q3 ’053.00%Q3 ’06+4%-6%

Executive Summary

  • Earnings: ROA of 0.81%, down 48 bps year over year; NIM at 3.51%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.13%.
  • Funding: loans stand at 80.31% of deposits as of Q3 2006.

Financial Results

Return on Assets (quarter, annualized)

0.81%-48 bps YoY

Net Interest Margin (quarter, annualized)

3.51%-41 bps YoY

Efficiency Ratio (quarter, annualized)

72.45%+178 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets1.30%0.79%0.92%1.07%0.81%-48 bps
Return on Equity18.33%11.53%13.30%15.60%12.12%-621 bps
Net Interest Margin3.92%3.71%3.60%3.85%3.51%-41 bps
Efficiency Ratio70.67%78.74%74.37%71.06%72.45%+178 bps
Non-Interest Burden2.53%2.76%2.49%2.50%2.37%-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 / Loans0.05%-0.02%0.06%0.70%0.13%+8 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