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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

4.04%Q2 ’044.83%Q2 ’055.66%Q2 ’06+13%0%

Non-interest income vs. expense

2.43%Q2 ’042.64%Q2 ’052.96%Q2 ’06+20%+18%

Executive Summary

  • Earnings: ROA of 1.03%, down 15 bps year over year; NIM at 3.98%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.13%.
  • Funding: loans stand at 77.69% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

1.03%-15 bps YoY

Net Interest Margin (quarter, annualized)

3.98%-1 bps YoY

Efficiency Ratio (quarter, annualized)

68.36%+866 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets1.18%1.25%1.05%1.03%1.03%-15 bps
Return on Equity8.60%9.16%7.87%7.56%7.62%-99 bps
Net Interest Margin3.99%4.00%3.90%3.94%3.98%-1 bps
Efficiency Ratio59.69%56.31%63.30%62.63%68.36%+866 bps
Non-Interest Burden2.21%2.05%2.31%2.33%2.61%+40 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 / Loans0.03%0.19%0.43%0.01%0.13%+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