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Home My WebLink About#14 - Investment Portfolio & Checking Account STAFF REPORT DATE: April 16, 2019 REGULAR TO: Honorable Mayor and City Councilmembers FROM: Sue Iverson – Finance Director AGENDA ITEM: Investment Portfolio and City Checking Account BACKGROUND: A number of changes have been made to the City’s cash and investments to maximize the City’s interest income. The Finance Committee reviewed the Investment Portfolio and past performance at its April 9, 2019 meeting, and recommend changing the City’s checking account from Lake Elmo bank to the 4M Fund which utilizes US Bank for the checking account. ISSUE BEFORE THE CITY COUNCIL: 1) Does the City Council have any questions regarding the City’s Investment Portfolio? 2) Should the City Council approve moving the City’s checking account from Lake Elmo bank to the 4M Fund which utilizes US Bank for checking? DISCUSSION: Attached are the Investment Portfolio Analysis for 2017, all four quarters of 2018 and 1st quarter of 2019. Staff has put together a detailed analysis of the City’s investments. • As of December 31, 2017 o $22,298,205.70 in cash and investments o Rate of return 0.49% o 78% held in cash, 22% held in fixed rate instruments • March 31, 2018 o $20,793,443.93 in cash and investments o Rate of return 0.59% o 74% held in cash, 26% held in fixed rate instruments • June 30, 2018 o $20,542,006.44 in cash and investments o Rate of return 0.60% o 74% held in cash, 26% held in fixed rate instruments • September 30, 2018 o $24,277,670.82 in cash and investments o Rate of return 0.92% o 68% held in cash, 32% held in fixed rate instruments  In August, money was moved from the local bank to the 4M Fund to achieve better interest rates. Fixed rate investments were purchased to achieve higher rates. • December 31, 2018 o $26,199.084.46 in cash and investments o Rate of return 2.29% o 46% held in cash, 54% held in fixed rate instruments  The arrangement with the local bank was changed to utilize a sweep account with the checking account, the savings accounts at the local bank were closed and monies were transferred to First Resource Bank. Additional fixed rate instruments were purchased to maximize yield, while a cash flow was prepared to determine the liquidity needs for bond payments, construction projects, and operating expenses. • March 31, 2019 o $20,984,676.44 in cash and investments o Rate of return 2.53% o 31% held in cash, 69% held in fixed rate instruments Interest income earned in 2017 was $95,696 vs. 2018 at $212,005. While many changes have been done, staff has identified one more area could be improved, the City’s checking account. Currently, the local bank requires that the City keeps $600,000 in the checking account with no ability to earn interest, any monies above that amount are then swept into a money market sweep account earning an interest rate of 0.40%. Staff first talked to the local bank to see what we could do to maximize interest earnings and the arrangement with the checking and sweep account were arranged. The Savings accounts were only earning 0.15% at that time and checking nothing. The 4M Fund offers an arrangement with US Bank for checking with daily sweeps so all of your money is earning interest daily as opposed to keeping $600,000 in a checking account earning 0% interest. Staff understands in the past there was a desire to keep doing business local. The potential yearly impact in switching from Lake Elmo Bank to the 4M Fund utilizing US Bank is $25,730 when using first quarter performance. The Finance Committee discussed this at its April 9, 2019, meeting and recommended City look at its arrangement with Lake Elmo Bank and switch the checking account to the 4M Fund which utilizes US Bank for checking. FISCAL IMPACT: OPTIONS: 1) Approve switching the City’s checking account from Lake Elmo Bank to the 4M Fund which utilizes US Bank for checking. 2) Do not approve switching the City’s checking account from Lake Elmo Bank to the 4M Fund Average Interest Ledger Rate Balance Interest Lake Elmo Business Sweep Account 0.400%712,983$ 641$ Lake Elmo Business Checking 596,895$ -$ 1,309,878$ 641$ 4M Fund Liquid Asset (Checking Sweep Acct)2.160%7,073$ Difference between LE and 4M checking (6,432)$ Potential Yearly impact (25,730)$ which utilizes US Bank for checking. RECOMMENDATION: Motion to approve switching the City’s checking account from Lake Elmo Bank to the 4M Fund which utilizes US Bank for checking. ATTACHMENTS: 1) Investment Portfolio Analysis for 2017, 1st-4th Quarter for 2018 2) 1st Quarter Investment Portfolio Analysis for 2019 City of Lake Elmo Investment Portfolio Analysis March 31, 2019 Brokerage Last Purch Date Maturity Date Next Call Date Ave Maturity Rating Type CUSIP Investment Descriptions Category Total Concentration Face/Cost Yield to Maturity Annualized Cost Yield Amount Market Value Interest Earned YTD Accrued Interest 4M Fund 8/16/2018 30 Days N/A MM MN Municipal Liquid Asset Fund 0%31,943.03 2.160%689.97 31,943.03 1,742.89 4M Fund 8/16/2018 90 Days N/A MM MN Municipal PLUS Fund 41%2,671,981.46 2.200%58,783.59 2,671,981.46 17,473.44 125 Days N/A MM 4M Term Series Pool-4 Month 4%250,000.00 2.400%6,000.00 250,000.00 - 182 Days N/A MM 4M Term Series Pool-6 Month 4%250,000.00 2.450%6,125.00 250,000.00 - First Resource Bank 10/17/2018 30 Days N/A MM FRB Money Market Plus 31%2,032,258.03 2.230%45,319.35 2,032,258.03 16,289.35 Lake Elmo 10/17/2018 30 Days N/A MM Money Market Sweep Account 6%413,875.07 0.400%1,655.50 413,875.07 640.91 Lake Elmo N/A N/A Checking Lake Elmo Bank Checking Account 9%602,546.37 0.000%- 602,546.37 - Wells Fargo Advisors 30 Days N/A MM Wells Fargo Avd. 100% Treasury MM Fund 1%33,255.11 1.630%542.06 33,255.11 329.41 Northland Securities 30 Days N/A MM Northland Securities MM Fund 5%307,756.19 1.570%4,831.77 307,756.19 553.61 - Sub Total Cash Accounts 31%6,593,615.26 1.880%123,947.25 6,593,615.26 37,029.61 - - Wells Fargo Advisors 11/17/2016 11/17/2022 2/17/2019 6 Yr AA+Agency 3130A9T68 FHLB - Multi Stepup Callable 2%222,142.50 3.540%7,863.84 224,345.25 Wells Fargo Advisors 10/27/2016 10/27/2023 4/27/2019 7 Yr Aaa/AA+/AAA Agency 3134GAUG7 FHLMC-Step med Term Nte Callable 5%755,780.00 2.610%19,725.86 770,164.00 Wells Fargo Advisors 2/22/2019 2/22/2024 8/22/2019 5 Yr Aaa/AA+/AAA Agency 3134GSX34 FHLMC-Step med Term Nte StepUp Callable 2%300,000.00 3.424%10,272.00 300,117.00 Wells Fargo Advisors 8/26/2015 8/26/2019 N/A 4 Yr N/A CD 14042E5Y2 Capital One NA, McLean, VA 1%120,937.20 2.100%2,539.68 119,852.40 1,270.36 Wells Fargo Advisors 10/2/2014 10/2/2019 N/A 5 Yr N/A CD 02587CBR0 American Express Bank FSB, Salt Lake City, UT 1%100,863.00 2.150%2,168.55 99,796.00 Wells Fargo Advisors 10/16/2014 10/16/2019 N/A 5 Yr N/A CD 140420QF0 Capital One Bank USA NA, Glenn Allen, VA 1%100,850.00 2.150%2,168.28 99,825.00 Wells Fargo Advisors 1/30/2015 1/30/2020 N/A 5 Yr N/A CD 02587DXE3 American Exp Cent Bk, Salt Lake City, UT 1%145,427.75 1.950%2,835.84 144,409.85 1,425.37 Wells Fargo Advisors 8/11/2017 8/11/2020 8/11/2020 3 Yr N/A CD 88241TBU3 Texas Axchange Bank, Crowley, Tx 2%245,000.00 1.900%4,655.00 243,118.40 1,147.82 Wells Fargo Advisors 8/26/2015 8/26/2020 N/A 5 Yr N/A CD 14042E6A3 Capital One NA, McLean, VA 1%126,325.00 2.350%2,968.64 124,722.50 1,480.82 Wells Fargo Advisors 2/16/2018 2/18/2020 N/A 2 Yr N/A CD 410493CW8 Hanmi Bank, Los Angeles, CA 2%245,000.00 2.200%5,390.00 244,424.25 1,329.04 Wells Fargo Advisors 2/22/2018 2/24/2020 2/24/2020 2 Yr N/A CD 552249BJ2 Lyons Natl Bank, Lyons, NY 2%245,000.00 2.200%5,390.00 244,404.65 2,717.15 Wells Fargo Advisors 10/17/2018 2/19/2019 N/A 5 Mo N/A CD 98970L2J1 ZB Natl Assoc, Salt Lake City, UT 0%0.00 2.150%- 1,803.94 Wells Fargo Advisors 10/17/2018 4/17/2019 N/A 6 Mo N/A CD 795450X26 Sallie Mae Bank, Salt Lake City, UT 2%245,000.00 2.300%5,635.00 245,002.45 Wells Fargo Advisors 10/17/2018 4/17/2019 N/A 6 Mo N/A CD 919853BQ Valley Natl Bank, Wayne, NJ 2%245,000.00 2.250%5,512.50 244,995.10 Wells Fargo Advisors 10/19/2018 4/22/2019 N/A 6 Mo N/A CD 46176PJX4 Investors Bank, Short Hills, NJ 2%245,000.00 2.500%6,125.00 244,995.10 Wells Fargo Advisors 10/25/2018 4/25/2019 11/25/2018 6 Mo N/A CD 69912SGG9 Paragon Bank, Memphis, TN 2%245,000.00 2.250%5,512.50 244,997.55 1,359.24 Wells Fargo Advisors 10/26/2018 4/26/2019 11/26/2018 6 Mo N/A CD 06424QDL8 Bank of Missouri, Perryville, MO 2%245,000.00 2.250%5,512.50 244,997.55 1,359.24 Wells Fargo Advisors 10/30/2018 4/30/2019 N/A 6 Mo N/A CD 58958PFA7 Meridian Bank, Paoli, PA 2%245,000.00 2.250%5,512.50 244,992.65 Wells Fargo Advisors 10/31/2018 4/30/2019 N/A 6 Mo N/A CD 133033DX5 Camden Natl Bank, Camden, ME 2%245,000.00 2.250%5,512.50 244,992.65 Wells Fargo Advisors 10/19/2018 10/19/2020 4/19/2019 2 Yr N/A CD 48128FZK1 JP morgan Chase Bank, Columbus, OH 2%245,000.00 3.000%7,350.00 245,801.15 Wells Fargo Advisors 10/26/2018 10/26/2020 4/26/2019 2 Yr N/A CD 20451PVW3 Compass Bank, Birmingham, AL 2%245,000.00 3.000%7,350.00 247,016.35 Wells Fargo Advisors 11/15/2018 11/16/2020 12/15/2018 2 Yr N/A CD 20033AN77 Comenity Capital Bank, Salt Lake City, UT 2%245,000.00 3.050%7,472.50 247,303.00 1,842.53 Wells Fargo Advisors 11/21/2018 11/23/2020 12/21/2018 2 Yr N/A CD 90348JFW5 UBS Bank USA, Salt Lake City UT 2%245,000.00 3.100%7,595.00 247,530.85 1,872.73 Wells Fargo Advisors 11/28/2018 11/30/2020 12/28/2018 2 Yr N/A CD 947547KM6 Webbank, Salt Lake City, UT 2%245,000.00 3.100%7,595.00 245,330.75 1,872.73 Wells Fargo Advisors 11/9/2018 2/9/2021 12/1/2018 15 Mo N/A CD 538036DX9 Live Oak Banking Co, Wilmington, NC 2%245,000.00 3.000%7,350.00 247,432.85 1,812.34 Wells Fargo Advisors 11/15/2018 2/16/2021 12/15/2018 3 Yr N/A CD 02769QCP2 American Natl Bank, MN Baxter, MN 2%245,000.00 3.000%7,350.00 247,459.80 1,812.34 Wells Fargo Advisors 10/18/2018 10/18/2021 4/18/2019 3 Yr N/A CD 02007GFP3 Ally Bank, Sandy, UT 2%245,000.00 3.100%7,595.00 247,903.25 Wells Fargo Advisors 10/24/2018 10/25/2021 4/24/2019 3 Yr N/A CD 06740KMM6 Barclays Bank, Wilmington, DE 2%245,000.00 3.100%7,595.00 247,891.00 Wells Fargo Advisors 10/26/2018 10/26/2021 4/26/2019 3 Yr N/A CD 1732QU72 Citibank NA, Sioux Falls, SD 2%245,000.00 3.150%7,717.50 248,189.90 Wells Fargo Advisors 10/31/2018 10/29/2021 11/30/2018 3 Yr N/A CD 06607ABL4 Bank Champaign NA, Champaign, IL 2%245,000.00 3.150%7,717.50 245,186.20 1,902.95 Wells Fargo Advisors 11/9/2018 11/9/2023 12/9/2018 5 Yr N/A CD 59013J4V8 Merrick Bank 2%245,000.00 3.550%8,697.50 246,746.85 2,144.59 Wells Fargo Advisors 11/30/2018 11/30/2023 12/30/2018 5 Yr N/A CD 15118RQF7 Celtic Bank 2%245,000.00 3.500%8,575.00 245,499.80 2,114.38 Wells Fargo Advisors 12/14/2018 10/14/2020 6/14/2019 1.75 Yr N/A CD 43733LBE6 Home Savings Bank UT, Salt Lake City, UT 2%245,000.00 3.000%7,350.00 246,982.05 Wells Fargo Advisors 7/27/2016 7/27/2023 4/27/2018 7 Yr AA+/AAA Agency 3136G3YV1 FNMA Step-Up 1%191,368.00 1.250%2,392.10 195,476.00 1,250.00 Wells Fargo Advisors 10/12/2017 10/13/2020 N/A 3 Yr N/A CD 254673EH5 Discover Bank, Greenwood, DE 2%245,000.00 2.295%5,622.75 243,101.25 Wells Fargo Advisors 12/30/2016 12/30/2021 N/A 5 Yr N/A CD 949763DU7 Wells Fargo Bank, Sioux Falls, SD 2%216,100.80 2.650%5,726.67 212,282.40 1,166.31 Wells Fargo Advisors 10/13/2017 10/13/2022 N/A 5 Yr N/A CD 87164YSN5 Synchrony Drapper, UT 1%125,000.00 2.558%3,197.50 123,030.00 Wells Fargo Advisors 9/21/2018 9/21/2021 N/A 3 Yr N/A CD 05580APC2 bmw Salt Lake City UT 2%245,000.00 3.082%7,550.90 247,376.50 3,644.79 Wells Fargo Advisors 1/4/2019 1/4/2024 N/A 5 Yr N/A CD 856285NR8 State Bank of India 2%245,000.00 3.550%8,697.50 251,664.00 Wells Fargo Advisors 1/10/2019 1/10/2022 N/A 3 Yr N/A CD 61760ATY5 Morgan Stanley Private Bank 2%245,000.00 3.050%7,472.50 247,371.60 Wells Fargo Advisors 1/28/2019 1/28/2022 N/A 4 Yr N/A CD 05581WK53 BMO Harris Bank 2%245,000.00 3.000%7,350.00 245,509.60 Wells Fargo Advisors 2/22/2019 2/22/2024 8/22/2019 5 Yr N/A CD 87270LBU6 TIAA FSB, Jacksonville, FL 2%245,000.00 3.000%7,350.00 245,624.75 - Northland Securities 4/6/2016 4/6/2021 N/A 5 Yr N/A CD 140420XR6 Capital One - Glen Allen 1%140,001.40 1.740%2,436.02 138,468.40 Northland Securities 4/21/2016 10/21/2022 4/21/2018 5 Yr N/A CD 40434AT90 HSBC Bank, MCLean, VA 2%237,374.40 2.000%4,747.49 233,354.40 Northland Securities 12/28/2017 12/30/2019 N/A 2 Yr N/A CD 61747ME31 Morgan Stanley Bank, Salt Lake, Utah 2%240,000.00 2.100%5,040.00 239,376.00 Northland Securities 11/27/2018 11/27/2028 11/27/2019 10 Yr Aaa/AA+Agency 3130AFG76 FHLB Fixed Rate QP-2028, Callable 3%500,000.00 4.040%20,200.00 501,985.00 Northland Securities 2/28/2018 5/28/2021 2/28/2019 3 Yr Aaa/AA+Agency 3134GSFP5 FHLMC-Med Term NTS-Callable 2%250,007.00 2.600%6,500.18 250,060.00 Northland Securities 10/17/2018 10/17/2024 1/17/2019 6 Yr Aaa/AA+Agency 3134GSZB4 FHLMC Med Term NTS, Callable 0%3.531%- - 1,786.11 Northland Securities 7/27/2016 7/27/2021 1/27/2017 5 Yr Aaa/AA+Agency 3136G3A70 FNMA-Med Term NTS Callable 3%367,460.00 1.500%5,511.90 373,327.20 2,850.00 Northland Securities 12/19/2018 10/16/2024 10/16/2019 6 Yr Aaa/AA+Agency 3133EJG78 FFCD4731845 - Callable 2%303,411.00 3.544%10,752.89 301,125.00 Northland Securities 12/19/2018 12/3/2026 6/3/2019 8 Yr Aaa/AA+Agency 3130AFH26 FHLN4772485 - Callable 3%502,864.44 3.830%19,259.71 501,005.00 4,862.50 Northland Securities 12/26/2018 12/26/2025 3/26/2019 7 Yr AA+Agency 3133EJ3W7 FFCB Cons Sywide Bds, Callable 0%- 3.730%- - 2,828.58 Northland Securities 12/27/2018 12/27/2023 12/27/2019 5 Yr Aaa/AA+Agency 3134GSM93 FMCC4779445 - Callable 2%300,900.00 3.255%9,794.30 301,464.00 Northland Securities 2/4/2019 2/4/2028 2/4/2020 9 Yr Aaa/AA+Agency 3133EJ6U8 FFCB-Callable 3%450,000.00 3.650%16,425.00 451,791.00 Northland Securities 2/20/2019 11/20/2024 5/20/2019 5 Yr Aaa/AA+Agency 3133EKBE5 FFCB-Callable 2%300,000.00 3.170%9,510.00 300,084.00 Northland Securities 12/24/2018 2/1/2021 N/A 2.5 Yr AAA/AA Muni 963439YA6 White Bear Lake Dist 624 GO Tax OPEB 2008A 1%212,474.22 2.900%6,161.75 208,954.00 5,000.00 - 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo N/A CD 259435-1 Landmark Community Bank 0%- 2.141%- 2,222.50 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo N/A CD 259436-1 Pacific Western Bank 0%- 2.081%- 2,161.85 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo N/A CD 259437-1 Fieldpoint Private Bank & Trust 0%- 2.081%- 2,161.58 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo N/A CD 259432-1 Bank 7 0%- 2.261%- 2,801.12 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo N/A CD 259433-1 Texas Capital Bank 0%- 2.261%- 2,801.12 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo N/A CD 259434-1 Western Alliance Bank/Torrey Pines Bank 0%- 2.211%- 2,740.28 4M Fund 8/27/2019 3/26/2020 N/A 1 Yr N/A CD Bank of China 2%243,400.00 2.689%6,545.03 243,400.00 4M Fund 8/27/2019 3/26/2020 N/A 1 Yr N/A CD Servisfirst Bank 2%243,500.00 2.649%6,450.32 243,500.00 4M Fund 11/7/2018 5/1/2021 N/A 2.5 Yr Aa1 Muni 091582TF3 Bismarck Refunding Improvement B 2%344,874.47 3.050%10,518.67 344,647.80 - Sub Total Fixed Rate Instruments 69%14,391,061.18 2.834%407,823.36 14,430,404.05 67,544.31 - Sub Total Zero Coupon Instruments (Cost)0%- 0.000%- - - - Zero Instruments Interest Accrual - Zero Instruments Book Carrying Value - - - - - Total Investments 20,984,676.44 2.534%531,770.61 21,024,019.31 104,573.92 - = callable Overall Annualized Rate of Return 2.534%Interest Rec'd in Current Year 104,573.92 Annualized Rate of Return w/o Money Market 2.834%Prior Year Interest Rec'd in Current Year 61,828.10 Current Year Interest Rec'd Next Year - Benchmark - 4M Plus Rate 2.200%Total Current Year Interest Income 42,745.82 City of Lake Elmo Investment Portfolio Analysis December 31, 2017 Brokerage Last Purch Date Maturity Date Next Call Date Ave Maturity Type CUSIP Investment Descriptions Category Total Concentration Face/Cost Yield to Maturity Annualized Cost Yield Amount Market Value Interest Earned YTD Accrued Interest Lake Elmo 30 Days MM Money Market Savings Account 29%5,111,300.37 0.150%7,666.95 5,113,191.08 8,117.17 Lake Elmo 30 Days MM Money Market Savings Account - DEED Water 14%2,408,725.81 0.150%3,613.09 2,409,616.82 3,610.15 Lake Elmo N/A Checking Lake Elmo Bank Checking Account 55%9,588,833.08 0.000%- 9,588,833.08 Wells Fargo Advisors 30 Days MM Wells Fargo Avd. 100% Treasury MM Fund 0%36,268.73 0.720%261.13 36,268.73 Morgan Stanley 30 Days MM MS US Govt MM TR 0%5,543.99 1.380%76.51 5,543.99 Northland Securities 30 Days MM Northland Securities MM Fund 1%203,109.77 0.650%1,320.21 203,109.77 - Sub Total Cash Accounts 78%17,353,781.75 0.075%12,937.89 17,356,563.47 11,727.32 - - Wells Fargo Advisors 11/17/2016 11/17/2022 11/17/2018 6 Yr Agency 3130A9T68 FHLB - Multi Stepup Callable 4%222,142.50 1.510%3,354.35 224,086.50 412.50 Wells Fargo Advisors 10/27/2016 10/27/2023 10/27/2018 7 Yr Agency 3134GAUG7 FHLMC-Step med Term Nte Callable 15%755,780.00 2.050%15,493.49 765,816.25 2,755.56 Wells Fargo Advisors 2/17/2016 2/20/2018 N/A 2 Yr CD 066519BH1 Bank United Natl Assn, Miami Lakes, FL 5%244,740.30 1.100%2,692.14 245,007.35 1,011.54 Wells Fargo Advisors 8/20/2015 8/20/2018 N/A 3 Yr CD 02006LTF0 Ally Bank, Midvale, UT 3%125,625.00 1.740%2,185.88 125,100.00 803.08 Wells Fargo Advisors 8/26/2015 8/26/2019 N/A 4 Yr CD 14042E5Y2 Capital One NA, McLean, VA 2%120,937.20 2.100%2,539.68 120,333.60 883.72 Wells Fargo Advisors 10/2/2014 10/2/2019 N/A 5 Yr CD 02587CBR0 American Express Bank FSB, Salt Lake City, UT 2%100,863.00 2.160%2,178.64 99,895.00 536.03 Wells Fargo Advisors 10/16/2014 10/16/2019 N/A 5 Yr CD 140420QF0 Capital One Bank USA NA, Glenn Allen, VA 2%100,850.00 2.150%2,168.28 100,232.00 453.56 Wells Fargo Advisors 1/30/2015 1/30/2020 N/A 5 Yr CD 02587DXE3 American Exp Cent Bk, Salt Lake City, UT 3%145,427.75 1.960%2,850.38 144,385.20 1,200.72 Wells Fargo Advisors 8/11/2017 8/11/2020 11/11/2018 3 Yr CD 88241TBU3 Texas Axchange Bank, Crowley, Tx 5%245,000.00 1.930%4,728.50 243,635.35 1,030.14 Wells Fargo Advisors 8/26/2015 8/26/2020 N/A 5 Yr CD 14042E6A3 Capital One NA, McLean, VA 3%126,325.00 2.370%2,993.90 125,588.75 1,030.14 31,374.05 - Morgan Stanley 7/27/2016 7/27/2023 1/27/2019 7 Yr Agency 3136G3YV1 FNMA Step-Up 4%191,368.00 1.310%2,506.92 192,290.00 1,069.44 Morgan Stanley 9/20/2013 9/20/2018 N/A 5 Yr CD 005568P5J2 BMW Bank NA, Salt Lake City UT 5%247,986.55 2.050%5,083.72 245,708.05 1,415.17 Morgan Stanley 12/18/2013 12/18/2018 N/A 5 Yr CD 856283VY9 Bank of India, Chicago, IL 3%126,551.25 2.050%2,594.30 125,325.00 91.51 Morgan Stanley 10/12/2017 10/13/2020 N/A 3 Yr CD 254673EH5 Discover Bank, Greenwood, DE 5%245,000.00 1.950%4,777.50 243,684.35 1,049.99 Morgan Stanley 12/30/2016 12/30/2021 N/A 5 Yr CD 949763DU7 Wells Fargo Bank, Sioux Falls, SD 4%216,100.80 3.000%6,483.02 212,383.45 12.71 Morgan Stanley 10/13/2017 10/13/2022 N/A 5 Yr CD 87164YSN5 Synchrony Drapper, UT 3%125,000.00 2.200%2,750.00 124,370.00 637.53 20,067.74 - Northland Securities 4/6/2016 4/6/2021 N/A 5 Yr CD 140420XR6 Capital One - Glen Allen 3%140,001.40 1.740%2,436.02 138,640.60 560.77 Northland Securities 12/28/2017 12/30/2019 N/A 1Yr CD 254673JR8 Discover Bank Greenwood, DE 5%235,000.00 2.060%4,841.00 235,169.20 39.60 Northland Securities 12/27/2013 12/27/2018 N/A 5 Yr CD 38147JQT2 Goldman Sack Bk, New York 4%202,288.00 1.900%3,843.47 200,408.00 41.64 Northland Securities 4/21/2016 10/21/2022 N/A 5 Yr CD 40434AT90 HSBC Bank, MCLean, VA 5%237,374.40 2.090%4,961.12 234,955.20 933.70 Northland Securities 12/28/2017 12/30/2019 N/A 2 Yr CD 61747ME31 Morgan Stanley Bank, Salt Lake, Utah 5%240,000.00 2.110%5,064.00 240,405.60 41.42 Northland Securities 7/27/2016 7/27/2021 10/27/2018 5 Yr Agency 3136G3A70 FNMA-Med Term NTS Callable 7%367,460.00 1.560%5,732.38 370,139.00 2,438.33 Northland Securities 1/1/2012 12/1/2018 N/A 7 Yr Muni 284281KB7 Elbow Lake MN GO Impt Ref Bonds 2012A 4%182,602.80 2.350%4,291.17 180,075.60 352.50 - 30,656.76 - Sub Total Fixed Rate Instruments 22%4,944,423.95 1.953%96,549.88 4,937,634.05 82,098.55 18,801.30 Sub Total Zero Coupon Instruments (Cost)0%- 0.000%- - - - Zero Instruments Interest Accrual - Zero Instruments Book Carrying Value - - - - - Total Investments 22,298,205.70 0.491%109,487.77 22,294,197.52 93,825.87 18,801.30 = callable Overall Annualized Rate of Return 0.491%Interest Rec'd in Current Year 93,825.87 Annualized Rate of Return w/o Money Market 1.953%Prior Year Interest Rec'd in Current Year 16,931.26 Current Year Interest Rec'd Next Year 18,801.30 Benchmark - 4M Plus Rate 1.440%Total Current Year Interest Income 95,695.91 City of Lake Elmo Investment Portfolio Analysis January 31, 2018 Brokerage Last Purch Date Maturity Date Next Call Date Ave Maturity Type CUSIP Investment Descriptions Category Total Concentration Face/Cost Yield to Maturity Annualized Cost Yield Amount Market Value Interest Earned YTD Accrued Interest 4M Fund 8/16/2018 30 Days MM MN Municipal Liquid Asset Fund 0%1.750%- 4M Fund 8/16/2018 90 Days MM MN Municipal PLUS Fund 0%1.830%- Lake Elmo 30 Days MM Money Market Savings Account 33%5,113,191.08 0.150%7,669.79 5,113,191.08 1,890.71 Lake Elmo 30 Days MM Money Market Savings Account - DEED Water 16%2,409,616.82 0.150%3,614.43 2,409,616.82 891.01 Lake Elmo N/A Checking Lake Elmo Bank Checking Account 51%7,805,924.71 0.000%- 7,805,924.71 Wells Fargo Advisors 30 Days MM Wells Fargo Avd. 100% Treasury MM Fund 0%14,543.93 0.720%104.72 14,543.93 53.88 Morgan Stanley 30 Days MM MS US Govt MM TR 0%10,473.53 1.380%144.53 10,473.53 22.62 Northland Securities 30 Days MM Northland Securities MM Fund 0%3.21 0.650%0.02 3.21 154.93 - Sub Total Cash Accounts 74%15,353,753.28 0.075%11,533.48 15,353,753.28 3,013.15 - - Wells Fargo Advisors 11/17/2016 11/17/2022 11/17/2018 6 Yr Agency 3130A9T68 FHLB - Multi Stepup Callable 4%222,142.50 1.510%3,354.35 223,193.25 Wells Fargo Advisors 10/27/2016 10/27/2023 10/27/2018 7 Yr Agency 3134GAUG7 FHLMC-Step med Term Nte Callable 14%755,780.00 2.050%15,493.49 760,112.25 Wells Fargo Advisors 2/17/2016 2/20/2018 N/A 2 Yr CD 066519BH1 Bank United Natl Assn, Miami Lakes, FL 0%- 1.100%- 1,121.03 Wells Fargo Advisors 8/20/2015 8/20/2018 N/A 3 Yr CD 02006LTF0 Ally Bank, Midvale, UT 2%125,625.00 1.740%2,185.88 124,983.75 1,102.74 Wells Fargo Advisors 8/26/2015 8/26/2019 N/A 4 Yr CD 14042E5Y2 Capital One NA, McLean, VA 2%120,937.20 2.100%2,539.68 119,708.40 1,270.36 Wells Fargo Advisors 10/2/2014 10/2/2019 N/A 5 Yr CD 02587CBR0 American Express Bank FSB, Salt Lake City, UT 2%100,863.00 2.160%2,178.64 99,427.00 Wells Fargo Advisors 10/16/2014 10/16/2019 N/A 5 Yr CD 140420QF0 Capital One Bank USA NA, Glenn Allen, VA 2%100,850.00 2.150%2,168.28 99,636.00 Wells Fargo Advisors 1/30/2015 1/30/2020 N/A 5 Yr CD 02587DXE3 American Exp Cent Bk, Salt Lake City, UT 3%145,427.75 1.960%2,850.38 143,381.80 1,425.37 Wells Fargo Advisors 8/11/2017 8/11/2020 11/11/2018 3 Yr CD 88241TBU3 Texas Axchange Bank, Crowley, Tx 5%245,000.00 1.930%4,728.50 241,165.75 1,147.82 Wells Fargo Advisors 8/26/2015 8/26/2020 N/A 5 Yr CD 14042E6A3 Capital One NA, McLean, VA 2%126,325.00 2.370%2,993.90 124,192.50 1,480.82 Wells Fargo Advisors 2/16/2018 2/18/2020 N/A 2 Yr CD 410493CW8 Hanmi Bank, Los Angeles, CA 5%245,000.00 2.210%5,414.50 243,681.90 413.48 Wells Fargo Advisors 2/22/2018 2/24/2020 8/22/2018 2 Yr CD 552249BJ2 Lyons Natl Bank, Lyons, NY 5%245,000.00 2.210%5,414.50 243,635.35 - Morgan Stanley 7/27/2016 7/27/2023 1/27/2019 7 Yr Agency 3136G3YV1 FNMA Step-Up 4%191,368.00 1.310%2,506.92 190,502.00 1,250.00 Morgan Stanley 9/20/2013 9/20/2018 N/A 5 Yr CD 005568P5J2 BMW Bank NA, Salt Lake City UT 5%247,986.55 2.050%5,083.72 245,262.15 2,490.61 Morgan Stanley 12/18/2013 12/18/2018 N/A 5 Yr CD 856283VY9 Bank of India, Chicago, IL 2%126,551.25 2.050%2,594.30 125,072.50 Morgan Stanley 10/12/2017 10/13/2020 N/A 3 Yr CD 254673EH5 Discover Bank, Greenwood, DE 5%245,000.00 1.950%4,777.50 241,097.15 Morgan Stanley 12/30/2016 12/30/2021 N/A 5 Yr CD 949763DU7 Wells Fargo Bank, Sioux Falls, SD 4%216,100.80 3.000%6,483.02 209,655.10 1,166.31 Morgan Stanley 10/13/2017 10/13/2022 N/A 5 Yr CD 87164YSN5 Synchrony Drapper, UT 2%125,000.00 2.200%2,750.00 122,610.00 Morgan Stanley 9/21/2018 9/21/2021 N/A 3 Yr CD 05580APC2 bmw Salt Lake City UT 0%2.350%- - Northland Securities 4/6/2016 4/6/2021 N/A 5 Yr CD 140420XR6 Capital One - Glen Allen 3%140,001.40 1.740%2,436.02 136,943.80 Northland Securities 12/28/2017 12/30/2019 N/A 1Yr CD 254673JR8 Discover Bank Greenwood, DE 4%235,000.00 2.060%4,841.00 233,481.90 Northland Securities 12/27/2013 12/27/2018 N/A 5 Yr CD 38147JQT2 Goldman Sack Bk, New York 4%202,288.00 1.900%3,843.47 200,026.00 Northland Securities 4/21/2016 10/21/2022 N/A 5 Yr CD 40434AT90 HSBC Bank, MCLean, VA 4%237,374.40 2.090%4,961.12 231,806.40 Northland Securities 12/28/2017 12/30/2019 N/A 2 Yr CD 61747ME31 Morgan Stanley Bank, Salt Lake, Utah 4%240,000.00 2.110%5,064.00 238,653.60 Northland Securities 2/28/2018 5/28/2021 2/28/2019 3 Yr Agency 3134GSFP5 FHLMC-Med Term NTS-Callable 5%250,007.00 2.630%6,575.18 249,640.00 Northland Securities 7/27/2016 7/27/2021 10/27/2018 5 Yr Agency 3136G3A70 FNMA-Med Term NTS Callable 7%367,460.00 1.560%5,732.38 366,228.80 2,850.00 Northland Securities 1/1/2012 12/1/2018 N/A 7 Yr Muni 284281KB7 Elbow Lake MN GO Impt Ref Bonds 2012A 3%182,602.80 2.350%4,291.17 179,722.80 - 4M Fund 8/16/2018 11/16/2018 N/A 3 Mo CD 259440-1 Farmers State Bank Waterloo 0%2.091%- 4M Fund 8/16/2018 11/16/2018 N/A 3 Mo CD 259441-1 First National Bank/The First, NA 0%2.053%- 4M Fund 8/16/2018 12/17/2018 N/A 4 Mo CD 259438-1 Modern Bank, National association 0%2.121%- 4M Fund 8/16/2018 12/17/2018 N/A 4 Mo CD 259439-1 Citizens State Bank, TX 0%2.060%- 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259435-1 Landmark Community Bank 0%2.141%- 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259436-1 Pacific Western Bank 0%2.081%- 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259437-1 Fieldpoint Private Bank & Trust 0%2.081%- 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259432-1 Bank 7 0%2.261%- 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259433-1 Texas Capital Bank 0%2.261%- 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259434-1 Western Alliance Bank/Torrey Pines Bank 0%2.211%- - Sub Total Fixed Rate Instruments 26%5,439,690.65 2.045%111,261.92 5,393,820.15 15,718.54 - Sub Total Zero Coupon Instruments (Cost)0%- 0.000%- - - - Zero Instruments Interest Accrual - Zero Instruments Book Carrying Value - - - - - Total Investments 20,793,443.93 0.591%122,795.40 20,747,573.43 18,731.69 - = callable Overall Annualized Rate of Return 0.591%Interest Rec'd in Current Year 18,731.69 Annualized Rate of Return w/o Money Market 2.045%Prior Year Interest Rec'd in Current Year 18,801.30 Current Year Interest Rec'd Next Year - Benchmark - 4M Plus Rate 1.440%Total Current Year Interest Income (69.61) City of Lake Elmo Investment Portfolio Analysis June 30, 2018 Brokerage Last Purch Date Maturity Date Next Call Date Ave Maturity Type CUSIP Investment Descriptions Category Total Concentration Face/Cost Yield to Maturity Annualized Cost Yield Amount Market Value Interest Earned YTD Accrued Interest 4M Fund 8/16/2018 30 Days MM MN Municipal Liquid Asset Fund 0%1.750%- 4M Fund 8/16/2018 90 Days MM MN Municipal PLUS Fund 0%1.830%- Lake Elmo 30 Days MM Money Market Savings Account 34%5,155,103.51 0.150%7,732.66 5,115,103.51 3,803.14 Lake Elmo 30 Days MM Money Market Savings Account - DEED Water 16%2,410,518.07 0.150%3,615.78 2,410,518.07 1,792.26 Lake Elmo N/A Checking Lake Elmo Bank Checking Account 50%7,477,008.21 0.000%- 7,477,008.21 Wells Fargo Advisors 30 Days MM Wells Fargo Avd. 100% Treasury MM Fund 0%28,712.84 1.020%292.87 28,712.84 109.30 Morgan Stanley 30 Days MM MS US Govt MM TR 0%16,829.78 1.860%313.03 16,829.78 74.92 Northland Securities 30 Days MM Northland Securities MM Fund 0%14,143.38 0.970%137.19 14,143.38 164.90 - Sub Total Cash Accounts 74%15,102,315.79 0.080%12,091.53 15,062,315.79 5,944.52 - - Wells Fargo Advisors 11/17/2016 11/17/2022 11/17/2018 6 Yr Agency 3130A9T68 FHLB - Multi Stepup Callable 4%222,142.50 1.510%3,354.35 223,177.50 1,687.50 Wells Fargo Advisors 10/27/2016 10/27/2023 10/27/2018 7 Yr Agency 3134GAUG7 FHLMC-Step med Term Nte Callable 14%755,780.00 2.050%15,493.49 758,895.50 7,750.00 Wells Fargo Advisors 2/17/2016 2/20/2018 N/A 2 Yr CD 066519BH1 Bank United Natl Assn, Miami Lakes, FL 0%- 1.100%- 1,121.03 Wells Fargo Advisors 8/20/2015 8/20/2018 N/A 3 Yr CD 02006LTF0 Ally Bank, Midvale, UT 2%125,625.00 1.740%2,185.88 124,956.25 1,102.74 Wells Fargo Advisors 8/26/2015 8/26/2019 N/A 4 Yr CD 14042E5Y2 Capital One NA, McLean, VA 2%120,937.20 2.100%2,539.68 119,505.60 1,270.36 Wells Fargo Advisors 10/2/2014 10/2/2019 N/A 5 Yr CD 02587CBR0 American Express Bank FSB, Salt Lake City, UT 2%100,863.00 2.160%2,178.64 99,340.00 1,072.05 Wells Fargo Advisors 10/16/2014 10/16/2019 N/A 5 Yr CD 140420QF0 Capital One Bank USA NA, Glenn Allen, VA 2%100,850.00 2.150%2,168.28 99,463.00 1,072.05 Wells Fargo Advisors 1/30/2015 1/30/2020 N/A 5 Yr CD 02587DXE3 American Exp Cent Bk, Salt Lake City, UT 3%145,427.75 1.960%2,850.38 143,312.20 1,425.37 Wells Fargo Advisors 8/11/2017 8/11/2020 11/11/2018 3 Yr CD 88241TBU3 Texas Axchange Bank, Crowley, Tx 5%245,000.00 1.930%4,728.50 240,308.25 2,321.14 Wells Fargo Advisors 8/26/2015 8/26/2020 N/A 5 Yr CD 14042E6A3 Capital One NA, McLean, VA 2%126,325.00 2.370%2,993.90 123,613.75 1,480.82 Wells Fargo Advisors 2/16/2018 2/18/2020 N/A 2 Yr CD 410493CW8 Hanmi Bank, Los Angeles, CA 5%245,000.00 2.210%5,414.50 243,206.60 1,772.05 Wells Fargo Advisors 2/22/2018 2/24/2020 8/22/2018 2 Yr CD 552249BJ2 Lyons Natl Bank, Lyons, NY 5%245,000.00 2.210%5,414.50 243,162.50 - Morgan Stanley 7/27/2016 7/27/2023 1/27/2019 7 Yr Agency 3136G3YV1 FNMA Step-Up 4%191,368.00 1.310%2,506.92 190,186.00 1,250.00 Morgan Stanley 9/20/2013 9/20/2018 N/A 5 Yr CD 005568P5J2 BMW Bank NA, Salt Lake City UT 5%247,986.55 2.050%5,083.72 245,004.90 2,490.61 Morgan Stanley 12/18/2013 12/18/2018 N/A 5 Yr CD 856283VY9 Bank of India, Chicago, IL 2%126,551.25 2.050%2,594.30 124,933.75 1,277.74 Morgan Stanley 10/12/2017 10/13/2020 N/A 3 Yr CD 254673EH5 Discover Bank, Greenwood, DE 5%245,000.00 1.950%4,777.50 240,043.65 2,382.21 Morgan Stanley 12/30/2016 12/30/2021 N/A 5 Yr CD 949763DU7 Wells Fargo Bank, Sioux Falls, SD 4%216,100.80 3.000%6,483.02 207,965.20 2,345.58 Morgan Stanley 10/13/2017 10/13/2022 N/A 5 Yr CD 87164YSN5 Synchrony Drapper, UT 2%125,000.00 2.200%2,750.00 120,880.00 1,464.73 Morgan Stanley 9/21/2018 9/21/2021 N/A 3 Yr CD 05580APC2 bmw Salt Lake City UT 0%2.350%- - Northland Securities 4/6/2016 4/6/2021 N/A 5 Yr CD 140420XR6 Capital One - Glen Allen 3%140,001.40 1.740%2,436.02 136,071.60 1,186.74 Northland Securities 12/28/2017 12/30/2019 N/A 1Yr CD 254673JR8 Discover Bank Greenwood, DE 4%235,000.00 2.060%4,841.00 233,101.20 2,402.15 Northland Securities 12/27/2013 12/27/2018 N/A 5 Yr CD 38147JQT2 Goldman Sack Bk, New York 4%202,288.00 1.900%3,843.47 199,826.00 1,894.79 Northland Securities 4/21/2016 10/21/2022 N/A 5 Yr CD 40434AT90 HSBC Bank, MCLean, VA 4%237,374.40 2.090%4,961.12 228,669.60 2,393.42 Northland Securities 12/28/2017 12/30/2019 N/A 2 Yr CD 61747ME31 Morgan Stanley Bank, Salt Lake, Utah 4%240,000.00 2.110%5,064.00 238,238.40 2,513.10 Northland Securities 2/28/2018 5/28/2021 2/28/2019 3 Yr Agency 3134GSFP5 FHLMC-Med Term NTS-Callable 5%250,007.00 2.630%6,575.18 248,237.50 1,625.00 Northland Securities 7/27/2016 7/27/2021 10/27/2018 5 Yr Agency 3136G3A70 FNMA-Med Term NTS Callable 7%367,460.00 1.560%5,732.38 365,522.00 2,850.00 Northland Securities 1/1/2012 12/1/2018 N/A 7 Yr Muni 284281KB7 Elbow Lake MN GO Impt Ref Bonds 2012A 3%182,602.80 2.350%4,291.17 179,787.60 2,115.00 - 4M Fund 8/16/2018 11/16/2018 N/A 3 Mo CD 259440-1 Farmers State Bank Waterloo 0%2.091%- 4M Fund 8/16/2018 11/16/2018 N/A 3 Mo CD 259441-1 First National Bank/The First, NA 0%2.053%- 4M Fund 8/16/2018 12/17/2018 N/A 4 Mo CD 259438-1 Modern Bank, National association 0%2.121%- 4M Fund 8/16/2018 12/17/2018 N/A 4 Mo CD 259439-1 Citizens State Bank, TX 0%2.060%- 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259435-1 Landmark Community Bank 0%2.141%- 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259436-1 Pacific Western Bank 0%2.081%- 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259437-1 Fieldpoint Private Bank & Trust 0%2.081%- 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259432-1 Bank 7 0%2.261%- 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259433-1 Texas Capital Bank 0%2.261%- 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259434-1 Western Alliance Bank/Torrey Pines Bank 0%2.211%- - Sub Total Fixed Rate Instruments 26%5,439,690.65 2.045%111,261.92 5,377,408.55 50,266.18 - Sub Total Zero Coupon Instruments (Cost)0%- 0.000%- - - - Zero Instruments Interest Accrual - Zero Instruments Book Carrying Value - - - - - Total Investments 20,542,006.44 0.600%123,353.45 20,439,724.34 56,210.70 - = callable Overall Annualized Rate of Return 0.600%Interest Rec'd in Current Year 56,210.70 Annualized Rate of Return w/o Money Market 2.045%Prior Year Interest Rec'd in Current Year 18,801.30 Current Year Interest Rec'd Next Year - Benchmark - 4M Plus Rate 1.800%Total Current Year Interest Income 37,409.40 City of Lake Elmo Investment Portfolio Analysis September 30, 2018 Brokerage Last Purch Date Maturity Date Next Call Date Ave Maturity Type CUSIP Investment Descriptions Category Total Concentration Face/Cost Yield to Maturity Annualized Cost Yield Amount Market Value Interest Earned YTD Accrued Interest 4M Fund 8/16/2018 30 Days MM MN Municipal Liquid Asset Fund 3%501,094.37 1.750%8,769.15 501,094.37 1,094.37 4M Fund 8/16/2018 90 Days MM MN Municipal PLUS Fund 12%2,026,247.21 1.830%37,080.32 2,026,247.21 4,647.21 Lake Elmo 30 Days MM Money Market Savings Account 31%5,117,121.79 0.170%8,699.11 5,117,121.79 5,821.42 Lake Elmo 30 Days MM Money Market Savings Account - DEED Water 15%2,411,469.19 0.170%4,099.50 2,411,469.19 2,743.38 Lake Elmo N/A Checking Lake Elmo Bank Checking Account 38%6,228,963.22 0.000%- 6,228,963.22 - Wells Fargo Advisors 30 Days MM Wells Fargo Avd. 100% Treasury MM Fund 1%164,379.34 1.220%2,005.43 164,379.34 377.85 Morgan Stanley 30 Days MM MS US Govt MM TR 0%21,878.57 1.690%369.75 21,878.57 149.59 Northland Securities 30 Days MM Northland Securities MM Fund 0%17,038.03 1.130%192.53 17,038.03 209.55 - Sub Total Cash Accounts 68%16,488,191.72 0.371%61,215.79 16,488,191.72 15,043.37 - - Wells Fargo Advisors 11/17/2016 11/17/2022 11/17/2018 6 Yr Agency 3130A9T68 FHLB - Multi Stepup Callable 3%222,142.50 1.510%3,354.35 223,170.75 1,687.50 Wells Fargo Advisors 10/27/2016 10/27/2023 10/27/2018 7 Yr Agency 3134GAUG7 FHLMC-Step med Term Nte Callable 10%755,780.00 2.050%15,493.49 754,416.00 7,750.00 Wells Fargo Advisors 2/17/2016 2/20/2018 N/A 2 Yr CD 066519BH1 Bank United Natl Assn, Miami Lakes, FL 0%- 1.100%- - 1,121.03 Wells Fargo Advisors 8/20/2015 8/20/2018 N/A 3 Yr CD 02006LTF0 Ally Bank, Midvale, UT 0%- 1.740%- - 1,562.50 Wells Fargo Advisors 8/26/2015 8/26/2019 N/A 4 Yr CD 14042E5Y2 Capital One NA, McLean, VA 2%120,937.20 2.100%2,539.68 119,614.80 2,520.00 Wells Fargo Advisors 10/2/2014 10/2/2019 N/A 5 Yr CD 02587CBR0 American Express Bank FSB, Salt Lake City, UT 1%100,863.00 2.160%2,178.64 99,481.00 1,072.05 Wells Fargo Advisors 10/16/2014 10/16/2019 N/A 5 Yr CD 140420QF0 Capital One Bank USA NA, Glenn Allen, VA 1%100,850.00 2.150%2,168.28 99,540.00 1,072.05 Wells Fargo Advisors 1/30/2015 1/30/2020 N/A 5 Yr CD 02587DXE3 American Exp Cent Bk, Salt Lake City, UT 2%145,427.75 1.960%2,850.38 143,608.00 2,827.50 Wells Fargo Advisors 8/11/2017 8/11/2020 11/11/2018 3 Yr CD 88241TBU3 Texas Axchange Bank, Crowley, Tx 3%245,000.00 1.930%4,728.50 240,746.80 3,494.46 Wells Fargo Advisors 8/26/2015 8/26/2020 N/A 5 Yr CD 14042E6A3 Capital One NA, McLean, VA 2%126,325.00 2.370%2,993.90 123,697.50 2,937.50 Wells Fargo Advisors 2/16/2018 2/18/2020 N/A 2 Yr CD 410493CW8 Hanmi Bank, Los Angeles, CA 3%245,000.00 2.210%5,414.50 243,432.00 3,130.62 Wells Fargo Advisors 2/22/2018 2/24/2020 8/22/2018 2 Yr CD 552249BJ2 Lyons Natl Bank, Lyons, NY 3%245,000.00 2.210%5,414.50 243,387.90 2,672.85 - Morgan Stanley 7/27/2016 7/27/2023 1/27/2019 7 Yr Agency 3136G3YV1 FNMA Step-Up 2%191,368.00 1.310%2,506.92 189,532.00 2,500.00 Morgan Stanley 9/20/2013 9/20/2018 N/A 5 Yr CD 005568P5J2 BMW Bank NA, Salt Lake City UT 0%- 2.050%- - 2,035.95 Morgan Stanley 12/18/2013 12/18/2018 N/A 5 Yr CD 856283VY9 Bank of India, Chicago, IL 2%126,551.25 2.050%2,594.30 124,976.25 1,277.74 Morgan Stanley 10/12/2017 10/13/2020 N/A 3 Yr CD 254673EH5 Discover Bank, Greenwood, DE 3%245,000.00 1.950%4,777.50 240,352.35 2,382.21 Morgan Stanley 12/30/2016 12/30/2021 N/A 5 Yr CD 949763DU7 Wells Fargo Bank, Sioux Falls, SD 3%216,100.80 3.000%6,483.02 208,491.95 3,537.81 Morgan Stanley 10/13/2017 10/13/2022 N/A 5 Yr CD 87164YSN5 Synchrony Drapper, UT 2%125,000.00 2.200%2,750.00 120,938.75 1,464.73 Morgan Stanley 9/21/2018 9/21/2021 N/A 3 Yr CD 05580APC2 bmw Salt Lake City UT 3%245,000.00 2.350%5,757.50 244,434.05 - - Northland Securities 4/6/2016 4/6/2021 N/A 5 Yr CD 140420XR6 Capital One - Glen Allen 2%140,001.40 1.740%2,436.02 136,277.40 1,186.74 Northland Securities 12/28/2017 12/30/2019 N/A 1Yr CD 254673JR8 Discover Bank Greenwood, DE 3%235,000.00 2.060%4,841.00 233,359.70 2,402.15 Northland Securities 12/27/2013 12/27/2018 N/A 5 Yr CD 38147JQT2 Goldman Sack Bk, New York 3%202,288.00 1.900%3,843.47 199,918.00 1,894.79 Northland Securities 4/21/2016 10/21/2022 N/A 5 Yr CD 40434AT90 HSBC Bank, MCLean, VA 3%237,374.40 2.090%4,961.12 228,974.40 2,393.42 Northland Securities 12/28/2017 12/30/2019 N/A 2 Yr CD 61747ME31 Morgan Stanley Bank, Salt Lake, Utah 3%240,000.00 2.110%5,064.00 238,473.60 2,513.10 Northland Securities 2/28/2018 5/28/2021 2/28/2019 3 Yr Agency 3134GSFP5 FHLMC-Med Term NTS-Callable 3%250,007.00 2.630%6,575.18 246,895.00 1,625.00 Northland Securities 7/27/2016 7/27/2021 10/27/2018 5 Yr Agency 3136G3A70 FNMA-Med Term NTS Callable 5%367,460.00 1.560%5,732.38 364,439.00 5,700.00 Northland Securities 1/1/2012 12/1/2018 N/A 7 Yr Muni 284281KB7 Elbow Lake MN GO Impt Ref Bonds 2012A 2%182,602.80 2.350%4,291.17 179,870.40 2,115.00 - 4M Fund 8/16/2018 11/16/2018 N/A 3 Mo CD 259440-1 Farmers State Bank Waterloo 3%248,600.00 2.091%5,198.23 248,600.00 4M Fund 8/16/2018 11/16/2018 N/A 3 Mo CD 259441-1 First National Bank/The First, NA 3%248,700.00 2.053%5,105.81 248,700.00 4M Fund 8/16/2018 12/17/2018 N/A 4 Mo CD 259438-1 Modern Bank, National association 3%248,200.00 2.121%5,264.32 248,200.00 4M Fund 8/16/2018 12/17/2018 N/A 4 Mo CD 259439-1 Citizens State Bank, TX 3%248,200.00 2.060%5,112.92 248,200.00 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259435-1 Landmark Community Bank 3%247,700.00 2.141%5,303.26 247,700.00 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259436-1 Pacific Western Bank 3%247,800.00 2.081%5,156.72 247,800.00 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259437-1 Fieldpoint Private Bank & Trust 3%247,800.00 2.081%5,156.72 247,800.00 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259432-1 Bank 7 3%247,100.00 2.261%5,586.93 247,100.00 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259433-1 Texas Capital Bank 3%247,100.00 2.261%5,586.93 247,100.00 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259434-1 Western Alliance Bank/Torrey Pines Bank 3%247,200.00 2.211%5,465.59 247,200.00 - Sub Total Fixed Rate Instruments 32%7,789,479.10 2.089%162,687.24 7,726,427.60 64,876.70 - Sub Total Zero Coupon Instruments (Cost)0%- 0.000%- - - - Zero Instruments Interest Accrual - Zero Instruments Book Carrying Value - - - - - Total Investments 24,277,670.82 0.922%223,903.03 24,214,619.32 79,920.07 - = callable Overall Annualized Rate of Return 0.922%Interest Rec'd in Current Year 79,920.07 Annualized Rate of Return w/o Money Market 2.089%Prior Year Interest Rec'd in Current Year 18,801.30 Current Year Interest Rec'd Next Year - Benchmark - 4M Plus Rate 1.830%Total Current Year Interest Income 61,118.77 City of Lake Elmo Investment Portfolio Analysis December 31, 2018 Brokerage Last Purch Date Maturity Date Next Call Date Ave Maturity Type CUSIP Investment Descriptions Category Total Concentration Face/Cost Yield to Maturity Annualized Cost Yield Amount Market Value Interest Earned YTD Accrued Interest 4M Fund 8/16/2018 30 Days MM MN Municipal Liquid Asset Fund 0%58,122.04 2.090%1,214.75 58,122.04 3,099.68 4M Fund 8/16/2018 90 Days MM MN Municipal PLUS Fund 49%5,916,399.61 2.150%127,202.59 5,916,399.61 29,903.04 First Resource Bank 10/17/2018 30 Days MM FRB Money Market Plus 33%4,015,968.68 2.030%81,524.16 4,015,968.68 15,968.68 Lake Elmo 30 Days MM Money Market Savings Account 0%- 0.200%- - 6,270.04 Lake Elmo 30 Days MM Money Market Savings Account - DEED Water 0%- 0.200%- - 2,954.80 Lake Elmo 10/17/2018 30 Days MM Money Market Sweep Account 8%905,366.85 0.400%3,621.47 905,366.85 1,839.80 Lake Elmo N/A Checking Lake Elmo Bank Checking Account 5%603,291.00 0.000%- 603,291.00 - Wells Fargo Advisors 30 Days MM Wells Fargo Avd. 100% Treasury MM Fund 3%341,153.47 1.560%5,321.99 341,153.47 1,939.40 Morgan Stanley 30 Days MM MS US Govt MM TR 0%- 1.860%- - 188.93 Northland Securities 30 Days MM Northland Securities MM Fund 2%204,520.24 1.450%2,965.54 204,520.24 475.26 - Sub Total Cash Accounts 46%12,044,821.89 1.842%221,850.51 12,044,821.89 62,639.63 - - Wells Fargo Advisors 11/17/2016 11/17/2022 11/17/2018 6 Yr Agency 3130A9T68 FHLB - Multi Stepup Callable 2%222,142.50 1.510%3,354.35 224,556.75 3,375.00 550.00 Wells Fargo Advisors 10/27/2016 10/27/2023 10/27/2018 7 Yr Agency 3134GAUG7 FHLMC-Step med Term Nte Callable 5%755,780.00 2.050%15,493.49 765,529.50 15,500.00 2,755.56 Wells Fargo Advisors 2/17/2016 2/20/2018 N/A 2 Yr CD 066519BH1 Bank United Natl Assn, Miami Lakes, FL 0%- 1.100%- - 1,121.03 - Wells Fargo Advisors 8/20/2015 8/20/2018 N/A 3 Yr CD 02006LTF0 Ally Bank, Midvale, UT 0%- 1.740%- - 1,562.50 - Wells Fargo Advisors 8/26/2015 8/26/2019 N/A 4 Yr CD 14042E5Y2 Capital One NA, McLean, VA 1%120,937.20 2.100%2,539.68 119,606.40 2,520.00 883.72 Wells Fargo Advisors 10/2/2014 10/2/2019 N/A 5 Yr CD 02587CBR0 American Express Bank FSB, Salt Lake City, UT 1%100,863.00 2.160%2,178.64 99,538.00 1,072.05 536.03 Wells Fargo Advisors 10/16/2014 10/16/2019 N/A 5 Yr CD 140420QF0 Capital One Bank USA NA, Glenn Allen, VA 1%100,850.00 2.150%2,168.28 99,572.00 2,150.00 453.56 Wells Fargo Advisors 1/30/2015 1/30/2020 N/A 5 Yr CD 02587DXE3 American Exp Cent Bk, Salt Lake City, UT 1%145,427.75 1.960%2,850.38 143,774.75 3,905.45 1,200.72 Wells Fargo Advisors 8/11/2017 8/11/2020 11/11/2018 3 Yr CD 88241TBU3 Texas Axchange Bank, Crowley, Tx 2%245,000.00 1.930%4,728.50 241,026.10 4,655.02 267.82 Wells Fargo Advisors 8/26/2015 8/26/2020 N/A 5 Yr CD 14042E6A3 Capital One NA, McLean, VA 1%126,325.00 2.370%2,993.90 123,723.75 2,937.50 1,030.14 Wells Fargo Advisors 2/16/2018 2/18/2020 N/A 2 Yr CD 410493CW8 Hanmi Bank, Los Angeles, CA 2%245,000.00 2.210%5,414.50 243,439.35 4,474.42 236.28 Wells Fargo Advisors 2/22/2018 2/24/2020 8/22/2018 2 Yr CD 552249BJ2 Lyons Natl Bank, Lyons, NY 2%245,000.00 2.210%5,414.50 243,405.05 2,672.85 1,949.26 Wells Fargo Advisors 10/17/2018 2/19/2019 N/A 5 Mo CD 98970L2J1 ZB Natl Assoc, Salt Lake City, UT 2%245,000.00 2.150%5,267.50 244,894.65 - 1,096.79 Wells Fargo Advisors 10/17/2018 4/17/2019 N/A 6 Mo CD 795450X26 Sallie Mae Bank, Salt Lake City, UT 2%245,000.00 2.300%5,635.00 244,860.35 - 1,173.32 Wells Fargo Advisors 10/17/2018 4/17/2019 N/A 6 Mo CD 919853BQ Valley Natl Bank, Wayne, NJ 2%245,000.00 2.250%5,512.50 244,823.60 - 1,147.81 Wells Fargo Advisors 10/19/2018 4/22/2019 N/A 6 Mo CD 46176PJX4 Investors Bank, Short Hills, NJ 2%245,000.00 2.250%5,512.50 244,811.35 - 1,117.60 Wells Fargo Advisors 10/25/2018 4/25/2019 11/25/2018 6 Mo CD 69912SGG9 Paragon Bank, Memphis, TN 2%245,000.00 2.250%5,512.50 244,813.80 921.26 105.72 Wells Fargo Advisors 10/26/2018 4/26/2019 11/26/2018 6 Mo CD 06424QDL8 Bank of Missouri, Perryville, MO 2%245,000.00 2.250%5,512.50 244,811.35 921.26 90.61 Wells Fargo Advisors 10/30/2018 4/30/2019 N/A 6 Mo CD 58958PFA7 Meridian Bank, Paoli, PA 2%245,000.00 2.250%5,512.50 244,794.20 - 951.47 Wells Fargo Advisors 10/31/2018 4/30/2019 N/A 6 Mo CD 133033DX5 Camden Natl Bank, Camden, ME 2%245,000.00 2.250%5,512.50 244,794.20 - 936.37 Wells Fargo Advisors 10/19/2018 10/19/2020 4/19/2019 2 Yr CD 48128FZK1 JP morgan Chase Bank, Columbus, OH 2%245,000.00 3.000%7,350.00 245,024.50 - 1,490.14 Wells Fargo Advisors 10/26/2018 10/26/2020 4/26/2019 2 Yr CD 20451PVW3 Compass Bank, Birmingham, AL 2%245,000.00 3.000%7,350.00 244,992.65 - 1,349.18 Wells Fargo Advisors 11/15/2018 11/16/2020 12/15/2018 2 Yr CD 20033AN77 Comenity Capital Bank, Salt Lake City, UT 2%245,000.00 3.050%7,472.50 245,137.20 614.18 348.03 Wells Fargo Advisors 11/21/2018 11/23/2020 12/21/2018 2 Yr CD 90348JFW5 UBS Bank USA, Salt Lake City UT 2%245,000.00 3.100%7,595.00 245,335.65 624.25 228.89 Wells Fargo Advisors 11/28/2018 11/30/2020 12/28/2018 2 Yr CD 947547KM6 Webbank, Salt Lake City, UT 2%245,000.00 3.100%7,595.00 245,311.15 624.25 83.24 Wells Fargo Advisors 11/9/2018 2/9/2021 12/1/2018 15 Mo CD 538036DX9 Live Oak Banking Co, Wilmington, NC 2%245,000.00 3.000%7,350.00 244,617.80 443.01 624.25 Wells Fargo Advisors 11/15/2018 2/16/2021 12/15/2018 3 Yr CD 02769QCP2 American Natl Bank, MN Baxter, MN 2%245,000.00 3.000%7,350.00 244,598.20 604.11 342.33 Wells Fargo Advisors 10/18/2018 10/18/2021 4/18/2019 3 Yr CD 02007GFP3 Ally Bank, Sandy, UT 2%245,000.00 3.100%7,595.00 244,473.25 - 1,560.62 Wells Fargo Advisors 10/24/2018 10/25/2021 4/24/2019 3 Yr CD 06740KMM6 Barclays Bank, Wilmington, DE 2%245,000.00 3.100%7,595.00 244,451.20 - 1,435.77 Wells Fargo Advisors 10/26/2018 10/26/2021 4/26/2019 3 Yr CD 1732QU72 Citibank NA, Sioux Falls, SD 2%245,000.00 3.150%7,717.50 244,774.60 - 1,416.63 Wells Fargo Advisors 10/31/2018 10/29/2021 11/30/2018 3 Yr CD 06607ABL4 Bank Champaign NA, Champaign, IL 2%245,000.00 3.150%7,717.50 244,786.85 1,289.78 42.28 Wells Fargo Advisors 11/9/2018 11/9/2023 12/9/2018 5 Yr CD 59013J4V8 Merrick Bank 2%245,000.00 3.550%8,697.50 244,897.10 714.86 548.06 Wells Fargo Advisors 11/30/2018 11/30/2023 12/30/2018 5 Yr CD 15118RQF7 Celtic Bank 2%245,000.00 3.500%8,575.00 244,225.80 704.79 46.98 Wells Fargo Advisors 12/14/2018 10/14/2020 6/14/2019 1.75 Yr CD 43733LBE6 Home Savings Bank UT, Salt Lake City, UT 2%245,000.00 3.000%7,350.00 245,049.00 - 362.47 Wells Fargo Advisors 1/4/2019 1/4/2024 7/4/2019 5 Yr CD 856285NR8 State Bank of India, New York, NY 0%3.550%- Wells Fargo Advisors 7/27/2016 7/27/2023 1/27/2019 7 Yr Agency 3136G3YV1 FNMA Step-Up 1%191,368.00 1.310%2,506.92 193,310.00 2,500.00 1,069.44 Wells Fargo Advisors 9/20/2013 9/20/2018 N/A 5 Yr CD 005568P5J2 BMW Bank NA, Salt Lake City UT 0%- 2.050%- 2,035.95 Wells Fargo Advisors 12/18/2013 12/18/2018 N/A 5 Yr CD 856283VY9 Bank of India, Chicago, IL 0%2.050%- 1,011.25 Wells Fargo Advisors 10/12/2017 10/13/2020 N/A 3 Yr CD 254673EH5 Discover Bank, Greenwood, DE 2%245,000.00 1.950%4,777.50 240,604.70 4,777.50 1,060.21 Wells Fargo Advisors 12/30/2016 12/30/2021 N/A 5 Yr CD 949763DU7 Wells Fargo Bank, Sioux Falls, SD 2%216,100.80 3.000%6,483.02 208,799.40 5,118.81 25.92 Wells Fargo Advisors 10/13/2017 10/13/2022 N/A 5 Yr CD 87164YSN5 Synchrony Drapper, UT 1%125,000.00 2.200%2,750.00 120,378.75 2,937.50 643.84 Wells Fargo Advisors 9/21/2018 9/21/2021 N/A 3 Yr CD 05580APC2 bmw Salt Lake City UT 2%245,000.00 2.350%5,757.50 243,922.00 - 2,053.98 - Northland Securities 4/6/2016 4/6/2021 N/A 5 Yr CD 140420XR6 Capital One - Glen Allen 1%140,001.40 1.740%2,436.02 136,339.00 2,380.00 560.77 Northland Securities 12/28/2017 12/30/2019 N/A 1Yr CD 254673JR8 Discover Bank Greenwood, DE 0%- 2.060%- - 2,522.55 Northland Securities 12/27/2013 12/27/2018 N/A 5 Yr CD 38147JQT2 Goldman Sack Bk, New York 0%- 1.900%- - 1,512.00 Northland Securities 4/21/2016 10/21/2022 N/A 5 Yr CD 40434AT90 HSBC Bank, MCLean, VA 2%237,374.40 2.090%4,961.12 228,074.40 4,800.00 933.70 Northland Securities 12/28/2017 12/30/2019 N/A 2 Yr CD 61747ME31 Morgan Stanley Bank, Salt Lake, Utah 2%240,000.00 2.110%5,064.00 238,526.40 5,040.00 41.42 Northland Securities 11/27/2018 11/27/2028 11/27/2019 10 Yr Agency 3130AFG76 FHLB Fixed Rate QP-2028, Callable 4%500,000.00 4.040%20,200.00 501,475.00 - 1,907.78 Northland Securities 2/28/2018 5/28/2021 2/28/2019 3 Yr Agency 3134GSFP5 FHLMC-Med Term NTS-Callable 2%250,007.00 2.630%6,575.18 249,715.00 4,875.00 595.83 Northland Securities 10/17/2018 10/17/2024 6 Yr Agency 3134GSZB4 FHLMC Med Term NTS, Callable 2%250,401.39 3.500%8,764.05 250,012.50 - 1,798.61 Northland Securities 7/27/2016 7/27/2021 10/27/2018 5 Yr Agency 3136G3A70 FNMA-Med Term NTS Callable 3%367,460.00 1.560%5,732.38 369,162.40 5,700.00 2,438.33 Northland Securities 12/19/2018 10/16/2024 10/16/2019 6 Yr Agency 3133EJ-G7-8 FFCD4731845 - Callable 2%303,411.00 3.544%10,752.89 301,281.00 - 2,275.00 Northland Securities 12/19/2018 12/3/2026 6/3/2019 8 Yr Agency 3130AF-H2-6 FHLN4772485 - Callable 4%502,864.44 3.830%19,259.71 501,475.00 - 1,512.78 Northland Securities 12/26/2018 12/26/2025 3/26/2019 7 Yr Agency 3133EJ3W7 FFCB Cons Sywide Bds, Callable 2%300,000.00 3.730%11,190.00 300,069.00 - 155.42 Northland Securities 12/27/2018 12/27/2023 12/27/2019 5 Yr Agency 3134GS-M9-3 FMCC4779445 - Callable 2%300,900.00 3.255%9,794.30 300,681.00 - 110.67 Northland Securities 1/1/2012 12/1/2018 N/A 7 Yr Muni 284281KB7 Elbow Lake MN GO Impt Ref Bonds 2012A 0%- 2.350%- - 1,627.20 Northland Securities 12/24/2018 2/1/2021 N/A 2.5 Yr Muni 963439-YA-6 White Bear Lake Dist 624 GO Tax OPEB 2008A 2%212,474.22 5.000%10,623.71 209,256.00 - 4,166.67 - 4M Fund 8/16/2018 11/16/2018 N/A 3 Mo CD 259440-1 Farmers State Bank Waterloo 0%- 2.091%- - 1,309.93 4M Fund 8/16/2018 11/16/2018 N/A 3 Mo CD 259441-1 First National Bank/The First, NA 0%- 2.053%- - 1,286.90 4M Fund 8/16/2018 12/17/2018 N/A 4 Mo CD 259438-1 Modern Bank, National association 0%- 2.121%- - 1,773.59 4M Fund 8/16/2018 12/17/2018 N/A 4 Mo CD 259439-1 Citizens State Bank, TX 0%- 2.060%- - 1,722.98 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259435-1 Landmark Community Bank 2%247,700.00 2.141%5,303.26 247,700.00 1990.54 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259436-1 Pacific Western Bank 2%247,800.00 2.081%5,156.72 247,800.00 1935.54 4M Fund 8/16/2018 1/16/2019 N/A 5 Mo CD 259437-1 Fieldpoint Private Bank & Trust 2%247,800.00 2.081%5,156.72 247,800.00 1935.54 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259432-1 Bank 7 2%247,100.00 2.261%5,586.93 247,100.00 2097.01 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259433-1 Texas Capital Bank 2%247,100.00 2.261%5,586.93 247,100.00 2097.01 4M Fund 8/16/2018 2/15/2019 N/A 6 Mo CD 259434-1 Western Alliance Bank/Torrey Pines Bank 2%247,200.00 2.211%5,465.59 247,200.00 2051.47 4M Fund 11/7/2018 5/1/2021 N/A 2.5 Yr Muni 091582TF3 Bismarck Refunding Improvement B 2%344,874.47 3.050%10,518.67 344,984.40 2008.97 - Sub Total Fixed Rate Instruments 54%14,154,262.57 2.676%378,826.85 14,113,216.05 106,338.73 61,828.10 Sub Total Zero Coupon Instruments (Cost)0%- 0.000%- - - - Zero Instruments Interest Accrual - Zero Instruments Book Carrying Value - - - - - Total Investments 26,199,084.46 2.293%600,677.36 26,158,037.94 168,978.36 61,828.10 = callable Overall Annualized Rate of Return 2.293%Interest Rec'd in Current Year 168,978.36 Annualized Rate of Return w/o Money Market 2.676%Prior Year Interest Rec'd in Current Year 18,801.30 Current Year Interest Rec'd Next Year 61,828.10 Benchmark - 4M Plus Rate 2.130%Total Current Year Interest Income 212,005.16