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Mountain States Bank

Denver, CO · Cert 16648

FDIC

Q2 2006

$283.2MAssets
$181.3MLoans
$233.4MDeposits
$38.1MEquity
Loan mix
66%RE $62.2M33%C&I $31.3M1%Consumer $1.2MQ2 2005Q2 2006
Deposit mix
68%Interest-bearing $157.9M32%Noninterest $75.6MQ2 2005Q2 2006

NIM

3.99%Q2 ’044.71%Q2 ’055.48%Q2 ’06+11%+1%

Non-interest income vs. expense

2.46%Q2 ’042.58%Q2 ’052.80%Q2 ’06+16%+18%

Executive Summary

  • Earnings: ROA of 1.03%, down 18 bps year over year; NIM at 3.93%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.07%.
  • Funding: loans stand at 77.69% of deposits as of Q2 2006.

Financial Results

Return on Assets (YTD, annualized)

1.03%-18 bps YoY

Net Interest Margin (YTD, annualized)

3.93%+3 bps YoY

Efficiency Ratio (YTD, annualized)

65.53%+680 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets1.21%1.22%1.18%1.03%1.03%-18 bps
Return on Equity8.89%8.99%8.72%7.56%7.59%-129 bps
Net Interest Margin3.90%3.91%3.83%3.94%3.93%+3 bps
Efficiency Ratio58.73%57.91%59.27%62.63%65.53%+680 bps
Non-Interest Burden2.09%2.06%2.09%2.33%2.46%+37 bps
Growth
Asset Growth (YoY)-2.31%0.84%-0.21%0.81%3.75%+606 bps
Loan Growth (YoY)21.94%26.84%23.94%20.33%22.94%+100 bps
Deposit Growth (YoY)-3.56%0.68%-0.70%-2.81%0.17%+373 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.03%0.04%0.14%0.01%0.07%+10 bps
Allowance / Loans2.16%1.96%1.83%1.73%1.58%-57 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 Capital23.34%22.55%23.76%23.32%22.40%-94 bps
Equity / Assets14.04%13.18%13.48%13.69%13.45%-58 bps
Liquidity & Funding
Loans / Deposits63.30%63.41%66.49%73.51%77.69%+1,439 bps
Liquid Assets / Assets0.75%0.64%0.45%0.45%0.45%-31 bps
CRE / Total Capitaln/an/an/an/an/an/an/a