Silverdale State Bank

Silverdale, WA · Cert 11216

FDIC

Q3 2001

$31.5MAssets

$15.7MLoans

$28.5MDeposits

$2.7MEquity

Loan mix

Deposit mix

Executive Summary

Earnings: ROA of 1.65%, up 212 bps year over year; NIM at 5.02%.
Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
Funding: loans stand at 55.06% of deposits as of Q3 2001.

Return on Assets (quarter, annualized)

1.65%+212 bps YoY

Net Interest Margin (quarter, annualized)

5.02%

Efficiency Ratio (quarter, annualized)

64.27%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

Metric	Q4 1999	Q1 2000	Q2 2000	Q3 2000	Q4 2000	Q1 2001	Q2 2001	Q3 2001	YoY Δ	Trend
Earnings
Return on Assets	0.18%	0.21%	-1.35%	-0.47%	-0.10%	0.98%	0.79%	1.65%	+212 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	n/a	8.05%	18.11%	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	n/a	5.14%	5.11%	5.02%	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	n/a	73.45%	76.76%	64.27%	n/a
Non-Interest Burden	n/a	n/a	n/a	n/a	n/a	3.62%	3.80%	3.02%	n/a
Growth
Asset Growth (YoY)	5.93%	8.21%	11.95%	0.07%	-1.06%	-4.32%	-1.22%	16.09%	+1,602 bps
Loan Growth (YoY)	5.45%	-2.39%	21.55%	20.06%	14.56%	23.00%	0.69%	-2.98%	-2,304 bps
Deposit Growth (YoY)	6.31%	10.24%	13.95%	0.11%	-1.00%	-6.05%	-1.13%	19.20%	+1,909 bps
Asset Quality
Nonperforming Loans / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	n/a	0.00%	0.00%	-0.03%	n/a
Allowance / Loans	n/a	n/a	n/a	n/a	n/a	1.35%	1.44%	1.53%	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	n/a	n/a	n/a	n/a	n/a	18.84%	19.02%	18.13%	n/a
Equity / Assets	n/a	n/a	n/a	n/a	n/a	10.19%	9.55%	8.68%	n/a
Liquidity & Funding
Loans / Deposits	61.30%	54.71%	63.51%	67.65%	70.94%	71.63%	64.68%	55.06%	-1,259 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.00%	1.68%	1.57%	33.19%	+3,319 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a