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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

8.32%Q4 ’066.53%Q4 ’075.55%Q4 ’08-24%+3%

Non-interest income vs. expense

3.71%Q4 ’062.75%Q4 ’073.26%Q4 ’08-46%+15%

Executive Summary

  • Earnings: ROA of 1.59%, up 30 bps year over year; NIM at 3.72%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 96.72% of deposits as of Q4 2008.

Financial Results

Return on Assets (quarter, annualized)

1.59%+30 bps YoY

Net Interest Margin (quarter, annualized)

3.72%+11 bps YoY

Efficiency Ratio (quarter, annualized)

58.01%+484 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.28%1.02%0.94%1.15%1.59%+30 bps
Return on Equity10.74%8.41%7.72%9.54%13.81%+307 bps
Net Interest Margin3.61%3.51%3.39%3.63%3.72%+11 bps
Efficiency Ratio53.17%62.50%62.01%58.02%58.01%+484 bps
Non-Interest Burden1.22%2.08%1.97%1.96%1.41%+19 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 / Loans0.00%0.00%-0.03%-0.39%0.00%0 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