PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

First Bank

Morgantown, IN · Cert 9651

FDIC

Q2 2004

$210.7MAssets
$151.9MLoans
$167.5MDeposits
$13.9MEquity
Loan mix
62%RE $43.7M37%C&I $26.2M1%Consumer $0.6MQ3 2002Q2 2004
Deposit mix
89%Interest-bearing $148.8M11%Noninterest $18.7MQ3 2002Q2 2004

Executive Summary

  • Earnings: ROA of 0.74%, down 16 bps year over year; NIM at 3.71%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.04%.
  • Funding: loans stand at 90.69% of deposits as of Q2 2004.

Return on Assets (YTD, annualized)

0.74%-16 bps YoY

Net Interest Margin (YTD, annualized)

3.71%-7 bps YoY

Efficiency Ratio (YTD, annualized)

73.92%+22 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

6.45%Q2 ’025.67%Q2 ’035.25%Q2 ’04-4%-2%

Non-interest income vs. expense

3.55%Q2 ’023.83%Q2 ’033.48%Q2 ’04-5%+3%

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.16%1.12%0.74%0.90%0.39%0.66%0.77%0.74%-16 bps
Return on Equity14.58%13.69%8.64%10.72%4.81%8.10%9.78%10.00%-72 bps
Net Interest Margin3.86%3.67%3.76%3.78%3.78%3.84%3.85%3.71%-7 bps
Efficiency Ratio71.71%70.87%78.08%73.70%74.48%74.38%74.70%73.92%+22 bps
Non-Interest Burden2.52%2.33%2.67%2.45%2.51%2.57%2.66%2.52%+7 bps
Growth
Asset Growth (YoY)21.74%20.44%28.82%22.21%17.53%13.36%15.28%18.95%-327 bps
Loan Growth (YoY)16.35%25.50%23.19%29.35%21.55%13.66%18.54%20.62%-873 bps
Deposit Growth (YoY)13.75%10.98%26.53%19.63%17.49%15.65%17.48%14.21%-542 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.18%0.13%0.10%0.26%0.56%-0.19%-0.04%-14 bps
Allowance / Loans1.25%1.18%1.26%1.23%1.83%1.13%1.18%1.10%-13 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital11.91%11.53%11.32%11.07%10.61%10.83%10.60%9.71%-136 bps
Equity / Assets8.71%8.79%8.30%8.25%7.50%8.19%7.67%6.59%-166 bps
Liquidity & Funding
Loans / Deposits83.53%95.13%81.00%85.87%86.42%93.49%81.73%90.69%+482 bps
Liquid Assets / Assets0.02%0.01%0.01%0.01%0.01%0.00%0.02%0.01%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a