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Letter portraitLegal landscapeQuarterYTD

City Bank

Honolulu, HI · Cert 18035

FDIC

Q4 2004

$2.3BAssets
$1.5BLoans
$1.3BDeposits
$470.9MEquity
Loan mix
61%RE $391.9M37%C&I $240.1M1%Consumer $9.2MQ4 2003Q4 2004
Deposit mix
99%Interest-bearing $1.3B1%Noninterest $0.0BQ4 2003Q4 2004

NIM

6.56%Q4 ’025.57%Q4 ’031.48%Q4 ’04-9%-72%

Non-interest income vs. expense

3.05%Q4 ’022.87%Q4 ’031.02%Q4 ’04-13%-58%

Executive Summary

  • Earnings: ROA of 0.30%, down 127 bps year over year; NIM at 1.20%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 114.14% of deposits as of Q4 2004.

Financial Results

Return on Assets (YTD, annualized)

0.30%-127 bps YoY

Net Interest Margin (YTD, annualized)

1.20%-310 bps YoY

Efficiency Ratio (YTD, annualized)

62.88%+889 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.57%2.27%2.63%0.09%0.30%-127 bps
Return on Equity18.18%26.22%29.83%0.76%2.13%-1,604 bps
Net Interest Margin4.30%4.57%4.47%0.26%1.20%-310 bps
Efficiency Ratio53.99%55.27%47.95%56.26%62.88%+889 bps
Non-Interest Burden1.85%2.10%1.29%0.12%0.79%-107 bps
Growth
Asset Growth (YoY)13.73%13.21%10.89%19.16%18.75%+501 bps
Loan Growth (YoY)15.55%16.80%16.88%15.49%14.40%-115 bps
Deposit Growth (YoY)3.76%14.43%16.88%18.91%10.81%+705 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.43%0.09%0.13%0.03%0.02%-42 bps
Allowance / Loans2.00%1.88%1.76%1.72%1.65%-35 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 Capital11.68%11.91%12.06%9.05%10.19%-149 bps
Equity / Assets8.40%8.95%9.14%20.26%20.84%+1,244 bps
Liquidity & Funding
Loans / Deposits110.55%102.26%101.56%101.77%114.14%+358 bps
Liquid Assets / Assets7.12%5.68%5.43%3.45%3.34%-378 bps
CRE / Total Capitaln/an/an/an/an/an/an/a