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Bank One, Kentucky, National Association

Louisville, KY · Cert 14985

FDIC

Q1 2003

$5.5BAssets
$3.5BLoans
$4.1BDeposits
$326.9MEquity
Loan mix
16%RE $0.3B83%C&I $1.3B1%Consumer $0.0BQ1 2002Q1 2003
Deposit mix
72%Interest-bearing $3.0B28%Noninterest $1.1BQ1 2002Q1 2003

NIM

6.47%Q1 ’013.28%Q1 ’022.40%Q1 ’03-50%-33%

Non-interest income vs. expense

2.95%Q1 ’012.88%Q1 ’022.81%Q1 ’03-54%+124%

Executive Summary

  • Earnings: ROA of 0.21%, down 2 bps year over year; NIM at 1.12%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Funding: loans stand at 84.65% of deposits as of Q1 2003.

Financial Results

Return on Assets (quarter, annualized)

0.21%-2 bps YoY

Net Interest Margin (quarter, annualized)

1.12%-55 bps YoY

Efficiency Ratio (quarter, annualized)

88.26%+1,994 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2002Q2 2002Q3 2002Q4 2002Q1 2003YoY ΔTrend
Earnings
Return on Assets0.22%0.38%-1.11%-0.29%0.21%-2 bps
Return on Equity3.82%6.20%-18.67%-5.01%3.60%-22 bps
Net Interest Margin1.66%1.54%1.42%1.33%1.12%-55 bps
Efficiency Ratio68.32%67.40%127.13%89.16%88.26%+1,994 bps
Non-Interest Burden0.33%0.29%2.38%0.97%0.74%+41 bps
Growth
Asset Growth (YoY)-4.59%-18.76%-5.46%-3.84%1.00%+559 bps
Loan Growth (YoY)15.81%15.45%-14.67%-13.63%-10.68%-2,649 bps
Deposit Growth (YoY)-1.62%-25.22%-4.98%-3.43%-0.30%+132 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.55%1.01%1.42%0.19%0.11%-144 bps
Allowance / Loans2.19%2.25%2.34%2.71%2.75%+56 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 Capital12.19%12.15%12.09%11.82%12.02%-17 bps
Equity / Assets6.20%5.99%5.90%5.61%5.93%-27 bps
Liquidity & Funding
Loans / Deposits94.48%88.81%91.41%77.76%84.65%-984 bps
Liquid Assets / Assets0.08%0.03%0.05%0.06%0.09%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a