First Ottawa Bancshares : March 31, 2022 Financial results

First Oawa Bancshares, Inc.

FIRST QUARTER 2022 HIGHLIGHTS

American Commercial Bank & Trust

(At or for period ended 3/31/2022 compared to period ended 3/31/2021)

Income Statement Highlights

• • Interest Income (Loans) increased by $196 thousand driven by higher loan balances and variable rate repricing.

• • Interest Income (Investments) increased by $64 thousand driven by higher balances and variable rate repricing.

• • Total Interest Expense declined by $64 thousand despite an increase of over $100 million in deposit balances.

• • Income from Service Charges increased by $170 thousand driven by new customer acquision.

• • Residenal Mortgage Servicing Income, including gain on sale, declined by $1.6 million as residenal mortgage originaon volumes declined due to rising interest rates.

• • Total Non-Interest expense increased by $430 thousand, primarily due to accounng for leases that increased occupancy expense.

• • Net Income declined by $856 thousand primarily driven by the decline in residenal mortgage originaon income.

Balance Sheet Highlights

• • Securies Available for Sale increased by $38 million as excess liquidity was invested primarily in GNMA, variable rate instruments.

• • Loans Held for Sale decreased by $22 million as residenal mortgage volumes declined due to rising interest rates.

• • Loans Net of ALLL increased by $53 million despite SBA PPP loans paydowns of $211 million from $230 million to $29 million.

• • Deposits increased by $105 million due primarily to new customer acquision.

About First Oawa Bancshares, Inc.

First Oawa Bancshares, Inc. is a bank holding company whose principal acvity is the ownership and management of its wholly owned subsidiary, American Commercial Bank & Trust, Naonal Associaon (formerly The First Naonal Bank of Oawa) (the Bank). The Bank is primarily engaged in providing a full range of banking and financial services to individual and corporate customers in LaSalle, Grundy, Cook, and surrounding counes in Illinois.

Markets

Chicago - Goose Island

1315 N North Branch St., Chicago 60642

Lisle

4733 Main St., Lisle, IL 60532

Morris

1771 N. Division St., Morris, IL 60450

Oawa

701 LaSalle St., Oawa, IL 61350

Schaumburg

1475 Woodfield Rd., STE 100, Schaumburg, IL 60173

Streator

409 E. Bridge St., Streator, IL 61364

Yorkville

1459 Cannonball Tr., Yorkville, IL 60560

Return on Ave Equity 17.32%

Return on Ave Assets 1.08%

Shares Outstanding 867,479

Book Value at Period End 76.26

Earnings Per Share - Basic 2.27

TTM EPS $12.50

NIM (annualized)* 3.93%

*Bank Only Rao

QTD
3/31/2021
Assets
Cash and Due from Banks	36,414
Interest Bearing Deposits in Financial Instuons	-	-
Cash and Cash Equivalents	46,257	36,414
Interest Bearing Time Deposits with Financial Instuons
Securies Available for Sale	100,770	62,315
Loans Held for Sale	1,754	24,186
Loans, Net of Allowance for Loan Losses	873,233	819,793
Premise & Equipment, net	14,416	9,963
Other Real Estate Owned	36	1,123
Accrued Interest Receivable and Other Assets	41,332	21,577
Total Assets	1,077,798	975,371
Liabilies and Shareholder's Equity
Deposits, Total	945,819	840,751
Borrowings	58,500	72,500
Other Liabilies	9,274	6,462
Total Liabilies	1,013,593	919,713
Shareholder's Equity	64,205	55,658
Total Liabilies and Shareholders Equity	1,077,798	975,371

QTD

3/31/2022

46,257

First Oawa Bancshares, Inc.

Income Statement

($ in thousands, Except Share and Per Share Data)

QTD
3/31/2021
Interest and Dividend Income
Loans, Including Fees	9,080
Securies Available for Sale:
Taxable	218
Exempt from Federal Tax	51
Other	51
Total Interest and Dividend Income	9,660	9,400
Interest Expense
Deposits	353	393
Borrowings	464	488
Total Interest Expense	817	881
Net Interest Income	8,843	8,519
Provision for Loan Losses	600	750
Net Income Aſter Provision for Loan Losses	8,243	7,769
Non Interest Income
Service Fees	528	358
Trust and Farm Management Fees	219	213
Mortgage Servicing Income, Net	252	1,837
Other	206	123
Total Non Interest Income	1,205	2,531
Non Interest Expense
Salaries and Employment Benefits	4,719	4,724
Occupancy and Equipment	675	512
Data Processing Fees	456	369
Adversing	124	52
Professional Fees	226	151
Other Real Estate Owned, Net	-134	24
Supplies	38	34
Other	725	533
Total Non Interest Expenses	6,829	6,399
Income Before Income Tax	2,619	3.901
Income Tax Expense	676	1,093
Net Income	1,943	2,808
YTD Earnings Per Share	$2.27	$ 3.38

QTD 3/31/2022

9,276

281 46 57