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Firstbank of Longmont

Longmont, CO · Cert 13084

FDIC

Q3 2010

$412.0MAssets
$149.7MLoans
$374.1MDeposits
$34.1MEquity
Loan mix
98%RE $122.2M1%C&I $1.2M1%Consumer $0.8MQ3 2009Q3 2010
Deposit mix
86%Interest-bearing $322.9M14%Noninterest $51.3MQ3 2009Q3 2010

NIM

5.46%Q3 ’085.16%Q3 ’094.98%Q3 ’10+11%+6%

Non-interest income vs. expense

2.28%Q3 ’082.43%Q3 ’092.29%Q3 ’10+31%-12%

Executive Summary

  • Earnings: ROA of 2.21%, up 38 bps year over year; NIM at 4.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 40.03% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

2.21%+38 bps YoY

Net Interest Margin (quarter, annualized)

4.39%+27 bps YoY

Efficiency Ratio (quarter, annualized)

42.24%-516 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets1.83%1.06%1.87%1.95%2.21%+38 bps
Return on Equity25.21%14.02%24.59%24.67%27.10%+189 bps
Net Interest Margin4.12%4.23%4.23%4.40%4.39%+27 bps
Efficiency Ratio47.40%47.54%46.58%43.53%42.24%-516 bps
Non-Interest Burden1.45%1.82%1.48%1.38%1.27%-17 bps
Growth
Asset Growth (YoY)-5.65%-4.00%3.48%3.26%4.77%+1,042 bps
Loan Growth (YoY)14.35%4.08%4.45%7.63%8.88%-547 bps
Deposit Growth (YoY)4.54%6.48%2.50%1.98%4.12%-42 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.03%1.85%0.23%0.03%0.03%+7 bps
Allowance / Loans1.33%1.47%1.41%1.46%1.31%-2 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 Capital15.29%15.83%16.29%17.05%16.76%+147 bps
Equity / Assets7.62%7.47%7.75%8.05%8.29%+67 bps
Liquidity & Funding
Loans / Deposits38.28%37.15%37.85%38.76%40.03%+175 bps
Liquid Assets / Assets30.10%28.74%27.78%26.77%29.90%-20 bps
CRE / Total Capitaln/an/an/an/an/an/an/a