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Fortress Bank of Westby

Westby, WI · Cert 9521

FDIC

Q3 2007

$178.1MAssets
$145.1MLoans
$142.0MDeposits
$16.8MEquity
Loan mix
70%RE $61.5M30%C&I $26.4M1%Consumer $0.5MQ3 2006Q3 2007
Deposit mix
91%Interest-bearing $129.1M9%Noninterest $12.9MQ3 2006Q3 2007

NIM

6.33%Q3 ’056.82%Q3 ’066.88%Q3 ’07-4%-11%

Non-interest income vs. expense

2.61%Q3 ’052.75%Q3 ’062.96%Q3 ’07+1%+13%

Executive Summary

  • Earnings: ROA of -0.12%, down 107 bps year over year; NIM at 3.42%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.53%.
  • Funding: loans stand at 102.20% of deposits as of Q3 2007.

Financial Results

Return on Assets (quarter, annualized)

-0.12%-107 bps YoY

Net Interest Margin (quarter, annualized)

3.42%-41 bps YoY

Efficiency Ratio (quarter, annualized)

75.06%+1,328 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets0.95%0.72%0.60%0.50%-0.12%-107 bps
Return on Equity9.97%7.43%6.05%5.04%-1.26%-1,123 bps
Net Interest Margin3.83%3.72%3.43%3.20%3.42%-41 bps
Efficiency Ratio61.78%69.62%72.56%75.99%75.06%+1,328 bps
Non-Interest Burden2.21%2.51%2.41%2.33%2.49%+28 bps
Growth
Asset Growth (YoY)-0.23%-1.25%-1.47%0.11%4.22%+446 bps
Loan Growth (YoY)3.39%4.05%1.45%5.34%6.38%+299 bps
Deposit Growth (YoY)-0.71%-3.72%-0.14%3.46%7.66%+837 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.15%1.04%0.51%1.35%0.53%-62 bps
Allowance / Loans1.77%1.57%1.55%1.21%1.42%-36 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 Capital10.49%10.72%11.03%10.73%9.96%-53 bps
Equity / Assets9.71%9.79%10.13%9.76%9.45%-26 bps
Liquidity & Funding
Loans / Deposits103.43%102.05%98.15%100.31%102.20%-123 bps
Liquid Assets / Assets0.00%0.01%0.01%0.01%0.01%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a