BAS Case Study - March 2023

IRRSA 4.1.2

Core Analysis: Earnings Su nn y S tate Bank # Measure

12/31/18 9/30/18 6/30/18 3/31/18 12/31/17 9/30/17 6/30/17 3/31/17 12/31/16 9/30/16 6/30/16 3/31/16

1 Market Proxy: Federal Funds

2.22%

1.79%

1.44%

1.20%

1.92%

0.95%

0.69%

0.30%

0.37%

0.25%

1.06%

0.45%

14

11

12

24

13

24

26

35

15

-7

6

2 Market Proxy Quarterly Change (bp)

30

24%

13%

12%

-19%

16%

7%

20%

38%

50%

48%

32%

53%

3 Market Proxy Percent Change

4 Income Statement (0/o of Avg. Assets): 5 Interest Income (te)

3.80%

3.67%

3.86%

3.70%

3.82%

3.68%

3.68%

3.66%

3.50%

3.66%

3.85%

3.77%

0.47%

0.47%

0.49%

0.46%

0.37%

0.40%

0.39%

0.37%

0.38%

0.38%

6 Interest Expense

0.38%

0.38%

Net InterestIncome (te)

7

3.32%

3.20%

3.20%

3.47%

3.32%

3.30%

3.39%

3.45%

3.19%

3.13% 0.42%

3.25%

3.48%

1.04%

0.52%

0.51%

0.53%

0.46%

0.49%

0.47%

0.50%

0.39%

0.45%

0.49%

8 Noninterest Income

4.04%

3.62%

3.13%

3.60%

3.92%

3.50%

3.77%

3.45%

3.58%

3.40%

3.79%

9 Noninterest Expense

3.79%

10 PLLL

0.12%

0.14%

0.51%

0.09%

0.20%

0.15%

0.37%

0.03%

0.07%

0.07%

0.73%

0.07%

11

-0.25%

0.41%

PretaxNO/ (te)

0.23%

0.00%

-0.30% 0.14%

0.54%

-0.02% 0.30%

-0.06% -0.88% 0.12%

12 Securities Gains or Losses

0.11%

0.11%

0.00%

0.00%

0.00%

0.00%

0.00%

0.01%

0.06%

0.00%

0.05% 0.06%

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

13 Extraordinary Items

0.00%

0.00%

Net Income (periodic ROAA)

14

-0.14%

-0.14% 0.13%

0.25%

0.07%

0.22%

0.37%

0.05%

-0.00% -1.59% 0.08%

0.18%

15 Last 4 quarters average ROAA

0.04%

0.08%

0.07%

0.15%

0.35% 0.49%

-0.37% -0.41%

0.45%

-0.33% -0.32% 0.14%

16 Net Interest Margin (NIM) Analysis: 17 Periodic NIM (te)

3.62%

3.67%

3.60%

3.74%

4.00%

3.76%

3.96%

3.88%

3.73%

3.59%

3.99%

3.78%

18 Percent Change in Periodic NIM

2%

1%

1%

0%

5%

-4% -6% 6%

-5%

-3% -3% -7%

19 Derivative Impact on Periodic NIM (bp)

0

0

0

0

0

0

0

0

0

0

0

0

3.86%

3.73%

3.77%

20 Last 4 Quarters NIM (te)

3.62%

3.87%

3.66%

3.64%

3.84%

3.90%

3.98%

4.07%

3.98%

21 Percent Change in Last 4 Quarters NIM

1%

-1% -2%

-1%

-2% 0%

1%

-1% -2%

-2% 2%

3%

NO!:AEA {Last4 Quarters)

22

-0.17% -0.16% 0.22%

0.07%

0.54%

0.76%

0.23%

0.81%

-0.01% -0.26% -0.31%

0.10%

23 NIM Contraction to Breakeven

2%

14%

19%

-5%

-4% 6%

-7% -9%

20%

0%

6%

3%

24 Average Yields and Funding Costs: 25 Loans (te)

5.24%

5.11%

5.49%

5.44%

5.25%

5.31%

5.25%

5.35%

5.35%

5.29%

5.29%

5.41%

2.32%

2.41%

2.22%

2.51%

2.40%

2.58%

2.63%

2.04%

2.67%

2.33%

2.35%

1.79%

26 Securities (te)

1.04%

27 Other Earning Assets

6.67%

1.70%

0.90%

0.00%

0.60%

0.56%

0.50%

0.30%

0.37%

1.03%

1.00%

AverageEarningAsset Yield (EAY,)

4.26%

4.21%

4.44%

4.02%

28

4.20%

4.20%

4.19%

4.31%

4.18%

4.38%

4.13%

4.41%

0.41%

0.57%

0.64%

0.47%

29 Transaction Accounts

0.60%

0.33%

0.26%

0.26%

0.28%

0.28%

0.41%

0.25%

0.22%

0.20%

0.22%

0.24%

0.24%

0.24%

0.24%

0.22%

30 Other Savings Deposits including MMDAs

0.23%

0.23%

0.26%

0.21%

0.71%

31 CDs< $250M

0.74%

0.92%

0.80%

0.81%

0.86%

0.60%

0.68%

N/A

N/A

N/A

N/A

AverageCost ofCoreDeposits

32

0.32%

0.32%

0.40%

0.40%

0.34%

0.26%

0.33%

0.33%

0.37%

0.34%

0.28%

0.43%

1.23%

0.77%

33 CDs > $250M

1.26%

1.57%

1.21%

1.21%

1.24%

1.33%

N/A

N/A

N/A

N/A

34 All Other Funding

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

AverageCostofAllFunds (COF)

35

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

36 Pricing Spread (EAY - COF)

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

37 Periodic Change (bp)

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

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