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First State Bank of Gackle

Gackle, ND · Cert 9419

FDIC

Q4 2008

$42.5MAssets
$31.6MLoans
$32.7MDeposits
$4.8MEquity
Deposit mix
85%Interest-bearing $27.8M15%Noninterest $4.9MQ4 2007Q4 2008

NIM

6.28%Q4 ’066.37%Q4 ’075.48%Q4 ’08-11%-2%

Non-interest income vs. expense

2.38%Q4 ’062.41%Q4 ’072.51%Q4 ’08-3%+3%

Executive Summary

  • Earnings: ROA of 1.17%, down 6 bps year over year; NIM at 3.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.10%.
  • Funding: loans stand at 96.72% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

1.17%-6 bps YoY

Net Interest Margin (YTD, annualized)

3.40%-7 bps YoY

Efficiency Ratio (YTD, annualized)

59.86%+279 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.24%1.02%0.98%1.03%1.17%-6 bps
Return on Equity10.26%8.41%8.07%8.57%9.86%-40 bps
Net Interest Margin3.48%3.51%3.49%3.49%3.40%-7 bps
Efficiency Ratio57.07%62.50%62.26%60.80%59.86%+279 bps
Non-Interest Burden1.71%2.08%2.04%1.99%1.76%+5 bps
Growth
Asset Growth (YoY)10.42%4.41%3.86%0.75%9.76%-66 bps
Loan Growth (YoY)21.01%16.21%10.90%6.88%18.47%-255 bps
Deposit Growth (YoY)11.93%4.30%5.62%3.44%-2.00%-1,393 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.14%0.00%-0.01%-0.14%-0.10%-24 bps
Allowance / Loans1.35%1.42%1.32%1.37%1.29%-6 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 Capital12.79%12.30%11.58%11.14%10.91%-188 bps
Equity / Assets12.27%11.92%12.33%11.67%11.29%-98 bps
Liquidity & Funding
Loans / Deposits80.01%75.18%84.48%93.05%96.72%+1,671 bps
Liquid Assets / Assets0.26%0.00%0.26%0.25%0.23%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a