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First State Bank of Floodwood

Floodwood, MN · Cert 9742

FDIC

Q4 2003

$15.3MAssets
$12.3MLoans
$12.7MDeposits
$2.1MEquity
Loan mix
62%RE $4.2M38%C&I $2.5M1%Consumer $0.1MQ4 2002Q4 2003
Deposit mix
79%Interest-bearing $9.9M21%Noninterest $2.7MQ4 2002Q4 2003

NIM

8.44%Q4 ’017.72%Q4 ’024.73%Q4 ’03+7%-34%

Non-interest income vs. expense

4.57%Q4 ’014.31%Q4 ’022.40%Q4 ’03-5%-42%

Executive Summary

  • Earnings: ROA of 1.05%, up 33 bps year over year; NIM at 3.79%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.18%.
  • Funding: loans stand at 97.08% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

1.05%+33 bps YoY

Net Interest Margin (YTD, annualized)

3.79%-194 bps YoY

Efficiency Ratio (YTD, annualized)

57.35%-833 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets0.71%0.52%0.16%0.83%1.05%+33 bps
Return on Equity7.43%5.40%1.43%7.10%8.64%+121 bps
Net Interest Margin5.73%5.26%1.59%3.23%3.79%-194 bps
Efficiency Ratio65.68%78.64%76.86%60.58%57.35%-833 bps
Non-Interest Burden3.48%3.98%1.18%1.83%2.01%-147 bps
Growth
Asset Growth (YoY)10.14%9.98%10.87%9.57%10.13%-1 bps
Loan Growth (YoY)-0.98%-4.15%0.15%11.21%23.70%+2,468 bps
Deposit Growth (YoY)11.10%10.44%5.87%2.04%1.76%-934 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.53%0.38%0.22%0.26%0.18%-135 bps
Allowance / Loans1.41%1.55%1.38%1.21%1.28%-13 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 Capital13.29%13.18%14.49%15.71%16.54%+326 bps
Equity / Assets9.57%9.72%13.61%13.74%13.55%+399 bps
Liquidity & Funding
Loans / Deposits79.86%76.01%80.47%96.24%97.08%+1,722 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a