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Commerce Bank, National Association

Wichita, KS · Cert 10911

FDIC

Q3 2008

$1.2BAssets
$685.4MLoans
$983.5MDeposits
$104.5MEquity
Loan mix
52%RE $194.8M37%C&I $140.2M11%Consumer $39.4MQ3 2007Q3 2008
Deposit mix
93%Interest-bearing $914.2M7%Noninterest $69.3MQ3 2007Q3 2008

NIM

5.45%Q3 ’065.68%Q3 ’075.13%Q3 ’08+10%+29%

Non-interest income vs. expense

2.78%Q3 ’062.96%Q3 ’073.28%Q3 ’08+3%+14%

Executive Summary

  • Earnings: ROA of 1.07%, up 36 bps year over year; NIM at 3.71%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.58%.
  • Funding: loans stand at 69.69% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

1.07%+36 bps YoY

Net Interest Margin (quarter, annualized)

3.71%+83 bps YoY

Efficiency Ratio (quarter, annualized)

62.76%-612 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.71%0.61%0.85%0.99%1.07%+36 bps
Return on Equity8.46%7.22%10.05%11.78%12.59%+413 bps
Net Interest Margin2.88%2.96%3.15%3.45%3.71%+83 bps
Efficiency Ratio68.88%69.92%66.92%61.50%62.76%-612 bps
Non-Interest Burden1.54%1.64%1.65%1.55%1.76%+22 bps
Growth
Asset Growth (YoY)0.34%1.59%0.27%1.57%-4.82%-516 bps
Loan Growth (YoY)17.64%20.25%18.54%11.12%7.28%-1,036 bps
Deposit Growth (YoY)-4.03%0.73%1.21%1.91%-1.13%+290 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.24%0.56%0.15%0.45%0.58%+34 bps
Allowance / Loans1.57%1.52%1.51%1.47%1.46%-11 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital12.18%12.15%12.20%11.96%12.43%+25 bps
Equity / Assets8.45%8.52%8.44%8.34%8.62%+18 bps
Liquidity & Funding
Loans / Deposits64.23%62.85%62.47%64.73%69.69%+546 bps
Liquid Assets / Assets0.02%0.02%0.01%0.01%0.01%-1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a