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Wells Fargo Bank Montana, National Association

Billings, MT · Cert 16309

FDIC

Q3 2003

$1.6BAssets
$700.5MLoans
$1.3BDeposits
$100.0MEquity
Loan mix
67%RE $202.7M30%C&I $90.4M2%Consumer $7.5MQ3 2002Q3 2003
Deposit mix
73%Interest-bearing $971.4M27%Noninterest $350.9MQ3 2002Q3 2003

NIM

6.07%Q3 ’014.82%Q3 ’023.45%Q3 ’03-8%-24%

Non-interest income vs. expense

4.58%Q3 ’014.31%Q3 ’024.36%Q3 ’03+5%-3%

Executive Summary

  • Earnings: ROA of 0.48%, down 69 bps year over year; NIM at 2.81%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.17%.
  • Funding: loans stand at 52.97% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

0.48%-69 bps YoY

Net Interest Margin (quarter, annualized)

2.81%-90 bps YoY

Efficiency Ratio (quarter, annualized)

85.51%+1,223 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.17%0.35%0.72%0.60%0.48%-69 bps
Return on Equity15.70%4.98%10.69%8.92%7.45%-825 bps
Net Interest Margin3.71%3.33%3.13%2.93%2.81%-90 bps
Efficiency Ratio73.28%73.64%79.83%81.24%85.51%+1,223 bps
Non-Interest Burden2.13%1.90%2.06%1.96%2.07%-6 bps
Growth
Asset Growth (YoY)-1.69%3.17%5.19%5.74%3.36%+505 bps
Loan Growth (YoY)-4.25%-4.21%-8.66%-11.87%-17.12%-1,288 bps
Deposit Growth (YoY)-1.67%0.72%2.46%4.37%4.63%+630 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.27%1.89%0.18%0.21%0.17%-9 bps
Allowance / Loans1.21%1.23%1.27%1.33%1.41%+21 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 Capital12.52%11.10%11.97%12.34%12.17%-35 bps
Equity / Assets7.59%6.55%6.82%6.70%6.17%-142 bps
Liquidity & Funding
Loans / Deposits66.88%63.07%59.95%57.29%52.97%-1,390 bps
Liquid Assets / Assets3.63%3.62%4.41%5.05%1.27%-236 bps
CRE / Total Capitaln/an/an/an/an/an/an/a