icbk-ex991

Manitowoc, Wisconsin, April 18, 2019 – County Bancorp, Inc. (the “Company”; Nasdaq: ICBK), the holding company of Investors Community Bank (the “Bank”), an agricultural and commercial community bank headquartered in Manitowoc, Wisconsin, reported net income of $3.8 million, or $0.54 diluted earnings per share, for the first quarter of 2019, compared to net income of $2.8 million, or $0.40 diluted earnings per share, for the fourth quarter of 2018 and $4.1 million, or $0.58 diluted earnings per share, for the first quarter of 2018. This represents an annualized return on average assets of 1.00% for the three months ended March 31, 2019, compared to 1.15% for the three months ended March 31, 2018.

“We are very pleased that we continue to produce solid quarterly earnings, even with the challenges in the dairy sector,” stated Tim Schneider, President of the Company and CEO of the Bank.

“As we previously announced, we are committed to reducing our wholesale funding which we were able to make significant progress towards in the first quarter through loan participations. Our core deposit strategies had modest impact on this shift in the first quarter, but we feel longer term our strategies to grow core deposits will be impactful. Although we saw reduction in our classified assets ratio which was due to completed collection efforts, loan payoffs, and credits which were upgraded through our annual review process, we still have a large portion of our agricultural portfolio remaining to fully review through the credit underwriting process.”

Total assets at March 31, 2019 were $1.5 billion, a decrease of $29.4 million, or 1.9%, and an increase of $31.1 million, or 2.1%, over total assets as of December 31, 2018 and March 31, 2018, respectively. Total loans were $1.2 billion at March 31, 2019, which represents a $24.3 million, or 2.0%, decrease over total loans at December 31, 2018, and an $18.4 million, or 1.6%, increase over total loans at March 31, 2018.

During the first quarter of 2019, participated loans that we continue to service increased to $675.3 million at March 31, 2019, which is an increase of $14.0 million, or 2.1%, and $63.9 million, or 10.5%, over participated loans that we serviced at December 31, 2018 and March 31, 2018, respectively.

Total deposits at March 31, 2019 were $1.2 billion, a decrease of $47.1 million, or 3.8%, and an increase of $3.8 million, or 0.3%, over total deposits as of December 31, 2018 and March 31, 2018, respectively. Client deposits (demand deposits, money market accounts, and certificates of deposit) increased $5.2 million, or 0.7%, since December 31, 2018, and increased $89.4 million, or 13.3%, since March 31, 2018.

Due to the increases in loan participations and client deposit growth, we were able to decrease our reliance on brokered deposits and national certificates of deposit by $52.2 million, or 11.1%, from December 31, 2018, to $416.7 million at March 31, 2019. This also represents a decrease or $85.5 million, or 17.0%, from March 31, 2018.

During the first quarter of 2019, we supplemented a portion of our funding needs with FHLB borrowings. At March 31, 2019, borrowings from the FHLB totaled $100.4 million, which was an increase of $11.0 million, or 12.3%, from December 31, 2018, but was a decrease of $20.1 million, or 16.7%, from March 31, 2018.

Net interest income was $10.6 million for the three months ended March 31, 2019, which was a $0.1 million, or 1.7%, decrease from the three months ended December 31, 2018, and a $0.3 million, or 2.8%, increase from the three months ended March 31, 2018. The primary reason for the first quarter decline in net interest income compared to the preceding quarter was the increase in loan participations that resulted in lower average loan balances during the period.

Net interest margin was 2.94% for the three months ended March 31, 2019, which was an increase from 2.91% for the three months ended December 31, 2018, and a decrease from 3.01% for the three months ended March 31, 2018. A slight improvement in net interest margin was realized over the linked quarter because while loan yields remained steady, interest rates on deposits due from other banks outpaced the increase in cost of funds. Year-over-year first quarter net interest margin decreased by seven basis points primarily due to interest expense related to the $30.0 million of junior subordinated debentures that were issued during the second quarter of 2018 and a fifty-one basis point increase in cost of funds, which was partially offset by a forty-seven basis point improvement in loan yields.

Non-interest income for the three months ended March 31, 2019 increased by $0.5 million, or 18.5%, to $2.8 million compared to the three months ended December 31, 2018, primarily due to the reduction of the allowance for unused commitments of $0.5 million, included in other non-interest income, in the first quarter. The Company evaluated the need for this allowance during the first quarter and concluded there was no sufficient evidence that represented credit loss inherent in these commitments to substantiate the necessity of this reserve at March 31, 2019 and concluded to eliminate it. The Company will continue to evaluate credit risk on these off-balance sheet commitments going forward. During the first quarter, the Company also reduced a valuation allowance on its loan servicing rights portfolio which resulted in an increase of $0.2 million of loan servicing rights. The reduction of the valuation allowance is expected to continue throughout the remaining quarters of 2019.

Non-interest income for the three months ended March 31, 2019 increased $0.7 million, or 34.8%, compared to $2.0 million for the three months ended March 31, 2018. The year-over-year increase was primarily due to the elimination of the allowance for unused commitments and valuation allowance reduction discussed above and increases in loan servicing fees and rights which were the result of higher volumes of loans being serviced.

Non-interest expense for the three months ended March 31, 2019 decreased by $0.2 million, or 3.1%, to $7.3 million compared to the three months ended December 31, 2018, and increased $0.5 million, or 7.7%, compared to the three months ended March 31, 2018. The quarter-over-quarter decrease was primarily due $0.7 million of write-downs on two OREO properties that took place during the fourth quarter of 2018, which was partially offset by a $0.3 million, or 6.3% increase in employee compensation and benefits which was primarily the result of a 24.1% increase in the premium cost of employee benefits.

Non-performing assets as a percent of total assets increased to 2.07% at March 31, 2019, from 1.94% at December 31, 2018, and 1.83% at March 31, 2018. At March 31, 2019, non-performing assets were $30.9 million, an increase of $1.3 million and $4.2 million at December 31, 2018 and March 31, 2018, respectively. During the first quarter of 2019, non-performing loans increased by $2.9 million; however, three OREO properties were sold resulting in a decrease of $1.5 million in OREO during the quarter ended March 31, 2019.

Substandard loans were $107.5 million at March 31, 2019, compared to $120.9 million at December 31, 2018 and $82.6 million at March 31, 2018. Adverse classified asset ratio (a non-GAAP measure) decreased to 48.59% at March 31, 2019 from 57.12% and 53.44% at December 31, 2018 and March 31, 2018, respectively. Despite Wisconsin’s strained agricultural economy and the four-year sustained low prices of class III milk, the improvement in this ratio is the result of the active management of the substandard credits within the Bank’s loan portfolio as well as sales of OREO during the quarter.

A provision for loan losses of $0.8 million was recorded for the three months ended March 31, 2019 compared to a provision of $1.6 million and $0.1 million for the three months ended December 31, 2018 and March 31, 2018, respectively. The decrease in provision in the linked quarter is directly related to the $24.3 million reduction in total loans and the $0.2 million of net recoveries that occurred during the first quarter of 2019.

The allowance for loan losses was $17.5 million at March 31, 2019 compared to $16.5 million at December 31, 2018. The $1.0 million increase in the allowance during the first quarter of 2019 was the result of a $2.1 million increase in specific impairments on substandard loans which was offset in part by a $1.1 million reduction in general reserves due to the decreases in both adversely classified and total loans and improvement of qualitative factors.

The Company will host an earnings call today, April 18, 2019, at 1:30 p.m., CDT, conducted by Tim Schneider, President, and Glen L. Stiteley, CFO. The earnings call will be broadcast over the Internet on the Company’s website at www.ICBK.com then clicking on the link “Investor Relations,” and selecting “News”, then “Event Calendar.” In addition, you may listen to the Company’s earnings call via telephone by dialing (888) 317-6016. Investors should visit the Company’s website or call in to the dial-in number set forth above at least 10 minutes prior to the scheduled start of the call.

A replay of the earnings call will be available until April 18, 2020, by visiting the Company’s website at http://www.icbk.com and clicking on the link “Investor Relations.”

County Bancorp, Inc., a Wisconsin corporation and registered bank holding company founded in May 1996, and our wholly-owned subsidiary Investors Community Bank, a Wisconsin-chartered bank, are headquartered in Manitowoc, Wisconsin. The state of Wisconsin is often referred to as “America’s Dairyland,” and one of the niches we have developed is providing financial services to agricultural businesses statewide, with a primary focus on dairy-related lending. We also serve business and retail customers throughout Wisconsin, with a focus on northeastern and central Wisconsin. Our customers are served from our full-service locations in Manitowoc, Appleton, Green Bay, and Stevens Point and our loan production offices in Darlington, Eau Claire, Fond du Lac, and Sheboygan.

This press release includes "forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking statements presented in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Factors that may cause actual results to differ materially from those made or suggested by the forward-looking statements contained in this press release include those identified in the Company’s most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Any forward-looking statements presented herein are made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

County Bancorp, Inc. Consolidated Financial Summary (Unaudited)	March 31, 2019			December 31, 2018			September 30, 2018			June 30, 2018			March 31, 2018
	(dollars in thousands, except per share data)
Period-End Balance Sheet:
Assets
Cash and cash equivalents	$	62,426		$	61,087		$	49,996		$	81,044		$	90,676
Securities available for sale, at fair value		192,210			195,945			190,185			187,505			141,360
Loans held for sale		2,998			2,949			13,770			11,468			6,407
Agricultural loans		722,107			724,508			714,310			702,426			698,106
Commercial loans		403,490			415,672			417,146			407,609			406,096
Multi-family real estate loans		52,974			62,321			66,403			65,713			54,514
Residential real estate loans		4,172			4,522			4,965			5,437			5,512
Installment and consumer other		220			272			113			339			297
Total loans		1,182,963			1,207,295			1,202,937			1,181,524			1,164,525
Allowance for loan losses		(17,493	)		(16,505	)		(16,143	)		(15,129	)		(14,612	)
Net loans		1,165,470			1,190,790			1,186,794			1,166,395			1,149,913
Other assets		68,284			70,057			74,223			72,465			71,901
Total Assets	$	1,491,388		$	1,520,828		$	1,514,968		$	1,518,877		$	1,460,257

Liabilities and Shareholders' Equity
Demand deposits	$	101,434		$	121,436		$	103,862		$	95,459		$	101,167
NOW accounts and interest checking		49,902			51,779			46,811			51,674			48,212
Savings		6,210			5,770			6,616			6,833			6,189
Money market accounts		225,975			218,929			208,233			204,332			199,834
Time deposits		376,034			356,484			352,531			344,619			314,766
Brokered deposits		269,917			308,504			317,291			323,561			319,692
National time deposits		146,805			160,445			173,440			183,953			182,530
Total deposits		1,176,277			1,223,347			1,208,784			1,210,431			1,172,390
FHLB advances		100,400			89,400			102,400			108,200			120,500
Subordinated debentures		44,742			44,703			44,663			44,725			15,540
Other liabilities		11,952			11,293			11,134			9,439			9,013
Total Liabilities		1,333,371			1,368,743			1,366,981			1,372,795			1,317,443

Shareholders' equity		158,017			152,085			147,987			146,082			142,814
Total Liabilities and Shareholders' Equity	$	1,491,388		$	1,520,828		$	1,514,968		$	1,518,877		$	1,460,257

Stock Price Information:
High - Quarter-to-date	$	19.69		$	26.00		$	28.20		$	29.26		$	33.76
Low - Quarter-to-date	$	16.74		$	17.37		$	24.29		$	25.72		$	26.61
Market price - Quarter-end	$	17.60		$	17.37		$	25.10		$	27.50		$	29.21
Book value per share	$	22.36		$	21.50		$	20.91		$	20.63		$	20.17
Tangible book value per share ⁽¹⁾	$	21.54		$	20.65		$	20.07		$	19.77		$	19.29
Common shares outstanding		6,709,254			6,709,480			6,694,230			6,693,447			6,684,923

	March 31, 2019			December 31, 2018			September 30, 2018			June 30, 2018			March 31, 2018
	(dollars in thousands)
Loans by risk category:
Sound/Acceptable/Satisfactory/ Low Satisfactory	$	896,328		$	908,172		$	901,643		$	896,509		$	891,062
Watch		174,642			171,670			171,890			186,399			185,179
Special Mention		4,501			6,566			11,036			4,783			5,636
Substandard Performing		46,075			65,501			61,851			46,751			45,261
Substandard Impaired		61,417			55,386			56,517			47,082			37,387
Total loans		1,182,963			1,207,295			1,202,937			1,181,524			1,164,525
Loan sold with servicing retained		675,268			661,257			644,879			628,435			611,358
Total loans and loans sold with servicing retained	$	1,858,231		$	1,868,552		$	1,847,816		$	1,809,959		$	1,775,883

Non-Performing Assets:
Nonaccrual loans	$	25,880		$	22,983		$	27,881		$	26,305		$	17,746
Other real estate owned⁽²⁾		5,019			6,568			7,851			8,607			8,982
Total non-performing assets	$	30,899		$	29,551		$	35,732		$	34,912		$	26,728

Performing TDRs not on nonaccrual	$	21,111		$	18,258		$	11,863		$	11,173		$	10,488

Non-performing assets as a % of total loans		2.61	%		2.45	%		2.97	%		2.95	%		2.30	%
Non-performing assets as a % of total assets		2.07	%		1.94	%		2.36	%		2.30	%		1.83	%
Adverse classified asset ratio ⁽¹⁾		48.59	%		57.12	%		51.89	%		47.34	%		53.44	%
Allowance for loan losses as a % of nonaccrual loans		67.59	%		71.81	%		57.90	%		57.51	%		82.34	%
Allowance for loan losses as a % of total loans		1.48	%		1.37	%		1.34	%		1.28	%		1.25	%
Net charge-offs (recoveries) quarter-to-date	$	(236	)	$	1,210		$	(21	)	$	16		$	(1,268	)
Provision for loan loss quarter-to-date	$	752		$	1,572		$	993		$	533		$	97

	For the Three Months Ended
	March 31, 2019			December 31, 2018			September 30, 2018			June 30, 2018			March 31, 2018
	(dollars in thousands, except per share data)
Selected Income Statement Data:
Interest and Dividend Income
Loans, including fees	$	15,501		$	15,536		$	15,113		$	14,366		$	13,691
Taxable securities		1,186			1,168			945			982			632
Tax-exempt securities		175			183			344			14			157
Federal funds sold and other		264			223			249			401			213
Total interest and dividend income		17,126			17,110			16,651			15,763			14,693

Interest Expense
Deposits		5,424			5,273			4,980			4,600			3,796
FHLB advances and other borrowed funds		464			427			411			487			484
Subordinated debentures		678			667			656			338			143
Total interest expense		6,566			6,367			6,047			5,425			4,423
Net interest income		10,560			10,743			10,604			10,338			10,270
Provision for loan losses		752			1,572			993			533			97
Net interest income after provision for loan losses		9,808			9,171			9,611			9,805			10,173

Non-Interest Income
Services charges		353			470			394			445			365
Gain (loss) on sale of loans, net		(1	)		54			41			45			32
Loan servicing fees		1,519			1,553			1,521			1,486			1,452
Loan servicing right origination		228			7			(46	)		127			10
Income on OREO		26			83			96			45			32
Other		625			153			151			168			149
Total non-interest income		2,750			2,320			2,157			2,316			2,040

Non-Interest Expense
Employee compensation and benefits		4,482			4,059			4,394			4,114			4,218
Occupancy		389			245			332			278			204
Information processing		563			641			529			529			465
Professional fees		399			497			351			359			315
Business development		325			259			258			260			299
OREO expenses		51			106			46			152			140
Writedown of OREO		-			688			81			104			-
Net gain on sale of OREO		(136	)		(54	)		(28	)		(149	)		-
Depreciation and amortization		337			408			302			324			314
Other		895			689			758			966			830
Total non-interest expense		7,305			7,538			7,023			6,937			6,785
Income before income taxes		5,253			3,953			4,745			5,184			5,428
Income tax expense		1,491			1,123			1,228			1,334			1,374
NET INCOME	$	3,762		$	2,830		$	3,517		$	3,850		$	4,054

Basic	$	0.54		$	0.41		$	0.51		$	0.56		$	0.59
Diluted	$	0.54		$	0.40		$	0.50		$	0.55		$	0.58
Dividends declared	$	0.05		$	0.07		$	0.07		$	0.07		$	0.07

	For the Three Months Ended
	March 31, 2019			December 31, 2018			September 30, 2018			June 30, 2018			March 31, 2018
	(dollars in thousands, except share data)
Other Data:
Return on average assets		1.00	%		0.75	%		0.94	%		1.04	%		1.15	%
Return on average shareholders' equity		9.78	%		7.58	%		9.51	%		10.63	%		11.62	%
Return on average common shareholders' equity⁽¹⁾		9.99	%		7.70	%		9.75	%		10.96	%		12.04	%
Efficiency ratio ⁽¹⁾		55.91	%		52.85	%		54.62	%		55.18	%		55.12	%
Tangible common equity to tangible assets ⁽¹⁾		9.73	%		9.14	%		8.90	%		8.75	%		8.87	%

Common Share Data:
Net income from continuing operations	$	3,762		$	2,830		$	3,517		$	3,850		$	4,054
Less: Preferred stock dividends		117			111			106			99			97
Income available to common shareholders	$	3,645		$	2,719		$	3,411		$	3,751		$	3,957

Weighted average number of common shares issued		7,188,817			7,184,946			7,167,276			7,163,362			7,152,970
Less: Weighted average treasury shares		443,729			443,694			443,140			442,102			439,833
Less: Weighted average non- vested restricted units awards		19,383			28,701			29,537			30,692			34,976
Weighted average number of common shares outstanding		6,725,705			6,712,551			6,694,599			6,690,568			6,678,161
Effect of dilutive options		21,323			45,116			63,346			79,368			90,804
Weighted average number of common shares outstanding used to calculate diluted earnings per common share		6,747,028			6,757,667			6,757,945			6,769,936			6,768,965

	For the Three Months Ended
Non-GAAP Financial Measures:	March 31, 2019			December 31, 2018			September 30, 2018			June 30, 2018			March 31, 2018
	(dollars in thousands)
Return on average common shareholders' equity reconciliation:
Return on average shareholders' equity		9.78	%		7.58	%		9.51	%		10.63	%		11.62	%
Effect of excluding average preferred shareholders' equity		0.21	%		0.12	%		0.24	%		0.33	%		0.42	%
Return on average common shareholders' equity		9.99	%		7.70	%		9.75	%		10.96	%		12.04	%

Efficiency ratio GAAP to non-GAAP reconciliation:
Non-interest expense	$	7,305		$	7,538		$	7,023		$	6,937		$	6,785
Less: net gain (loss) on sales and write-downs of OREO		136			(634	)		(53	)		45			-
Adjusted non-interest expense (non-GAAP)	$	7,441		$	6,904		$	6,970		$	6,982		$	6,785

Net interest income	$	10,560		$	10,743		$	10,604		$	10,338		$	10,270
Non-interest income		2,750			2,320			2,157			2,316			2,040
Operating revenue	$	13,310		$	13,063		$	12,761		$	12,654		$	12,310
Efficiency ratio		55.91	%		52.85	%		54.62	%		55.18	%		55.12	%

	March 31, 2019			December 31, 2018			September 30, 2018			June 30, 2018			March 31, 2018
	(dollars in thousands, except per share data)
Tangible book value per share and tangible common equity to tangible assets reconciliation:
Common equity	$	150,017		$	144,085		$	139,987		$	138,082		$	134,814
Less: Goodwill		5,038			5,038			5,038			5,038			5,038
Less: Core deposit intangible, net of amortization		430			513			603			701			806
Tangible common equity (non-GAAP)	$	144,549		$	138,534		$	134,346		$	132,343		$	128,970
Common shares outstanding		6,709,254			6,709,480			6,694,230			6,693,447			6,684,923
Tangible book value per share	$	21.54		$	20.65		$	20.07		$	19.77		$	19.29

Total assets	$	1,491,388		$	1,520,828		$	1,514,968		$	1,518,877		$	1,460,257
Less: Goodwill		5,038			5,038			5,038			5,038			5,038
Less: Core deposit intangible, net of amortization		430			513			603			701			806
Tangible assets (non-GAAP)	$	1,485,920		$	1,515,277		$	1,509,327		$	1,513,138		$	1,454,413
Tangible common equity to tangible assets		9.73	%		9.14	%		8.90	%		8.75	%		8.87	%

Adverse classified asset ratio:
Substandard loans	$	107,492		$	120,887		$	118,368		$	93,833		$	82,648
Less: Impaired performing restructured loans		(6,382	)		(5,078	)		(13,657	)		(2,081	)		(1,164	)
Net substandard loans	$	101,110		$	115,809		$	104,711		$	91,752		$	81,484
Other real estate owned		5,019			6,568			7,851			8,607			8,982
Substandard unused commitments		976			1,625			1,191			959			2,309
Less: Substandard government guarantees		(5,864	)		(7,111	)		(9,374	)		(8,356	)		(3,605	)
Total adverse classified assets (non-GAAP)	$	101,241		$	116,891		$	104,379		$	92,962		$	89,170

Total equity (Bank)	$	191,287		$	185,458		$	180,359		$	177,911		$	149,105
Accumulated other comprehensive loss (gain) on available for sale securities		(436	)		2,221			4,152			2,795			2,603
Allowance for loan losses		17,493			16,505			16,143			15,129			14,612
Allowance for unused commitments		-			475			510			522			553
Adjusted total equity (non-GAAP)	$	208,344		$	204,659		$	201,164		$	196,357		$	166,873
Adverse classified asset ratio		48.59	%		57.12	%		51.89	%		47.34	%		53.44	%

	For the Three Months Ended
	March 31, 2019								December 31, 2018								March 31, 2018
	Average Balance⁽¹⁾			Income/ Expense		Yields/ Rates			Average Balance⁽¹⁾			Income/ Expense		Yields/ Rates			Average Balance⁽¹⁾			Income/ Expense		Yields/ Rates
	(dollars in thousands)
Assets
Investment securities	$	192,963		$	1,361		2.82	%	$	191,955		$	1,351		2.82	%	$	136,722		$	789		2.31	%
Loans ⁽²⁾		1,207,240			15,501		5.14	%		1,207,883			15,536		5.14	%		1,172,786			13,691		4.67	%
Interest bearing deposits due from other banks		36,227			264		2.92	%		67,153			223		1.33	%		55,784			213		1.53	%
Total interest-earning assets	$	1,436,430		$	17,126		4.77	%	$	1,466,991		$	17,110		4.67	%	$	1,365,292		$	14,693		4.30	%

Allowance for loan losses		(17,005	)							(16,034	)							(13,722	)
Other assets		78,654								61,316								62,000
Total assets	$	1,498,079							$	1,512,273							$	1,413,570

Liabilities
Savings, NOW, money market, interest checking	$	295,418		$	1,184		1.60	%	$	287,420		$	1,043		1.45	%	$	282,313		$	640		0.91	%
Time deposits		797,476			4,240		2.13	%		820,515			4,230		2.06	%		742,465			3,156		1.70	%
Total interest-bearing deposits	$	1,092,894		$	5,424		1.99	%	$	1,107,935		$	5,273		1.90	%	$	1,024,778		$	3,796		1.48	%
Other borrowings		844			11		5.27	%		837			10		4.62	%		1,286			16		4.97	%
FHLB advances		92,900			453		1.95	%		90,509			417		1.84	%		121,067			468		1.55	%
Junior subordinated debentures		44,606			678		6.08	%		44,681			667		5.97	%		15,529			143		3.68	%
Total interest-bearing liabilities	$	1,231,244		$	6,566		2.13	%	$	1,243,962		$	6,367		2.05	%	$	1,162,660		$	4,423		1.52	%

Non-interest-bearing deposits		101,532								108,140								103,669
Other liabilities		11,362								10,913								7,743
Total liabilities	$	1,344,138							$	1,363,015							$	1,274,072

Shareholders' equity		153,941								149,258								139,498
Total liabilities and equity	$	1,498,079							$	1,512,273							$	1,413,570

Net interest income				$	10,560							$	10,743							$	10,270
Interest rate spread ⁽³⁾							2.64	%							2.62	%							2.78	%
Net interest margin ⁽⁴⁾							2.94	%							2.91	%							3.01	%
Ratio of interest-earning assets to interest-bearing liabilities		1.17								1.18								1.17