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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

6.41%Q4 ’025.78%Q4 ’035.08%Q4 ’04+1%-12%

Non-interest income vs. expense

3.05%Q4 ’023.08%Q4 ’033.60%Q4 ’04-8%+40%

Executive Summary

  • Earnings: ROA of 0.84%, down 87 bps year over year; NIM at 4.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 114.14% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

0.84%-87 bps YoY

Net Interest Margin (quarter, annualized)

4.13%-55 bps YoY

Efficiency Ratio (quarter, annualized)

64.00%+1,024 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.72%2.27%3.00%-4.61%0.84%-87 bps
Return on Equity20.50%26.22%33.20%-30.46%4.10%-1,640 bps
Net Interest Margin4.68%4.57%4.39%-8.01%4.13%-55 bps
Efficiency Ratio53.76%55.27%41.94%56.26%64.00%+1,024 bps
Non-Interest Burden2.03%2.10%0.49%-2.18%2.84%+81 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 / Loans1.34%0.09%0.18%-0.18%0.00%-135 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