Ixonia Bank Annual Report 2017

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Ixonia Bancshares, Inc. – Consolidated Statement of Condition (amounts in thousands) March 31, December 31, ASSETS 2018 2017 2017 2016 Cash and cash equivalents $ 12,216 $ 10,729 $ 6,261 $ 27,995 Securities available for sale 78,696 92,106 86,386 91,945 Loans held for sale 322 309 1,312 19 Gross Loans 198,203 166,753 196,417 158,828 Allowance for loan and lease loss (2,895) (2,784) (2,875) (2,764) Loans, net 195,308 163,969 193,542 156,064 Premises and equipment, net 11,468 11,097 11,505 11,210 Foreclosed assets, net 4,885 6,159 4,885 6,276 Deferred Tax Asset 8,931 13,027 8,894 13,303 Other assets 9,114 8,968 9,108 8,845 Total Assets $ 320,940 $ 306,364 $ 321,893 $ 315,657 LIABILITIES & STOCKHOLDERS’ EQUITY Liabilities Non-interest bearing deposits $ 45,802 $ 41,678 $ 49,279 $ 45,758 Interest-bearing deposits 226,320 210,361 220,162 215,030 Total Deposits 272,122 252,039 269,441 260,788 Securities sold under repurchase agreements 2,917 2,488 6,067 6,058 Borrowed funds 2,422 4,916 2,446 1,939 Other liabilities 955 1,006 1,339 1,372 Total Liabilities 278,416 260,449 279,293 270,157 Stockholders’ Equity Common stock 2,890 2,884 2,890 2,884 Additional paid-in capital 29,596 29,566 29,593 29,566 Retained earnings 12,008 14,858 11,668 14,616 Accumulated other comprehensive income (loss) (1,334) (760) (915) (933) Treasury stock (636) (633) (636) (633) Total Stockholders’ Equity 42,524 45,915 42,600 45,500 Total Liabilities & Stockholders’ Equity $ 320,940 $ 306,364 $ 321,893 $ 315,657 Ixonia Bank Regulatory Capital Ratios Tier 1 Leverage Capital 11.27% 11.74% 11.24% 11.47% Total Risk-Based Capital 14.92% 17.39% 15.20% 17.51% Ixonia Bancshares, Inc. Tangible Book Value per Share $11.69 $11.45 $11.73 $11.21 3
Ixonia Bancshares, Inc. – Consolidated Statement of Operations (amounts in thousands) INCOME Mar. 31, 2018 Three Months Ending, Mar. 31, 2017 Twelve Months Ending, Dec. 31, 2017 Dec. 31, 2016 Interest and dividend income $ 2,923 $ 2,347 $ 10,156 $ 9,195 Interest Expense 414 266 1,031 930 Net interest income 2,509 2,081 9,125 8,265 Provision for loan losses − − − − Net interest income after provision for loan losses 2,509 2,081 9,125 8,265 Noninterest income: Service fees 306 273 1,238 1,093 Other income 404 234 1,010 1,099 Total noninterest income 710 507 2,248 2,192 Noninterest expense: Salaries and benefits 1,686 1,301 5,836 5,112 Occupancy and equipment 415 365 1,382 1,341 Office expense 351 272 1,021 801 Professional fees 76 53 406 321 Other 216 203 1,548 1,042 Total noninterest expense 2,744 2,194 10,193 8,617 Income before provision for income taxes 475 394 1,180 1,840 Provision for income taxes 135 151 4,128 (12,617) Net Income (loss) - Consolidated $ 340 $ 243 $ (2,948) $ 14,457 Net Income (loss) - Bank Only * $ 352 $ 260 $ (2,714) $ 14,196 CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY Beginning balance $ 42,600 $ 45,500 $ 45,500 $ 30,249 Net income (loss) 340 243 (2,948) 14,457 Unrealized gain on securities available for sale (419) 172 18 617 Reclassification for change in accounting principle − − − 177 Issuance of common stock (Series A) 3 − 75 − Purchase of treasury stock − − (151) − Sale of treasury stock − − 106 − Total Equity $ 42,524 $ 45,915 $ 42,600 $ 45,500 *Operating results of Ixonia Bank only, and not consolidated with Ixonia Bancshares, Inc. 4
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Page 11 and 12: Ixonia Bank Officers Daniel L. West

Ixonia Bank Annual Report 2017

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