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Valley Exchange Bank

Lennox, SD · Cert 9947

FDIC · 2 branches

Q2 2023

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q2 2023, the quarter ended June 30, 2023, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Valley Exchange Bank

Lennox, SD · Cert 9947

FDIC · 2 branches

Q2 2023

$68.6MAssets
$11.0MLoans
$60.1MDeposits
$8.4MEquity
Loan mix
42%RE $1.4M45%C&I $1.5M12%Consumer $0.4MQ2 2022Q2 2023
Deposit mix
68%Interest-bearing $40.8M32%Noninterest $19.2MQ2 2022Q2 2023

NIM

1.86%Q2 ’211.07%Q2 ’225.22%Q2 ’23-43%+454%

Non-interest income vs. expense

2.03%Q2 ’211.72%Q2 ’222.80%Q2 ’23-19%+72%

Market Position · Sioux Falls, SD-MN · 2023 SOD (annual) · 0.0% share · #29 of 42 inst. · $0.1B of $772.1B

Executive Summary

  • Earnings: ROA of 1.61%, up 223 bps year over year; NIM at 5.00%.
  • Asset quality: problem loans at 0.28% of loans (-28 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 12.02%, up 268 bps from a year ago.
  • Funding: loans stand at 18.35% of deposits as of Q2 2023.

Financial Results

Return on Assets (YTD, annualized)

1.61%+223 bps YoY

Net Interest Margin (YTD, annualized)

5.00%+410 bps YoY

Efficiency Ratio (YTD, annualized)

54.10%-10,233 bps YoY

Tier 1 Leverage Ratio

12.02%+268 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2022Q3 2022Q4 2022Q1 2023Q2 2023YoY ΔTrend
Earnings
Return on Assets-0.62%0.22%0.34%2.06%1.61%+223 bps
Return on Equity-6.33%2.21%3.40%19.51%14.56%+2,088 bps
Net Interest Margin0.90%1.24%1.62%4.48%5.00%+410 bps
Efficiency Ratio156.43%88.84%81.06%48.69%54.10%-10,233 bps
Non-Interest Burden1.52%1.02%1.20%2.10%2.62%+110 bps
Growth
Asset Growth (YoY)5.20%3.00%6.82%-3.23%-9.80%-1,500 bps
Loan Growth (YoY)-19.26%-12.78%-9.93%-3.86%-9.99%+926 bps
Deposit Growth (YoY)6.89%3.69%7.34%-4.98%-12.86%-1,975 bps
Asset Quality
Nonperforming Loans / Loans0.56%0.51%0.75%0.38%0.28%-28 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.82%0.87%0.90%1.00%0.99%+17 bps
Allowance Coverage of NPLs1.4x1.7x1.2x2.6x3.5x+2.1x
Capital
Tier 1 Leverage Ratio9.34%9.98%10.05%10.84%12.02%+268 bps
Total Risk-Based Capital39.06%44.92%43.30%54.17%46.29%+723 bps
Equity / Assets9.31%10.01%10.02%11.17%12.19%+288 bps
Liquidity & Funding
Loans / Deposits17.77%18.41%17.54%16.54%18.35%+58 bps
Liquid Assets / Assets32.64%72.32%60.25%65.55%48.60%+1,596 bps
CRE / Total Capitaln/an/an/an/an/an/an/a