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Letter portraitLegal landscapeQuarterYTD

Bank One, Colorado, National Association

Denver, CO · Cert 18914

FDIC

Q2 2002

$4.0BAssets
$1.8BLoans
$2.7BDeposits
$368.7MEquity
Loan mix
17%RE $149.2M39%C&I $349.6M45%Consumer $403.3MQ2 2001Q2 2002
Deposit mix
70%Interest-bearing $1.9B30%Noninterest $0.8BQ2 2001Q2 2002

NIM

8.22%Q1 ’017.83%Q2 ’015.99%Q2 ’02-3%-7%

Non-interest income vs. expense

5.55%Q1 ’015.76%Q2 ’015.30%Q2 ’02-6%-92%

Executive Summary

  • Earnings: ROA of 2.40%, up 110 bps year over year; NIM at 4.62%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.50%.
  • Funding: loans stand at 66.77% of deposits as of Q2 2002.

Financial Results

Return on Assets (YTD, annualized)

2.40%+110 bps YoY

Net Interest Margin (YTD, annualized)

4.62%-36 bps YoY

Efficiency Ratio (YTD, annualized)

54.27%-1,166 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets1.31%1.54%1.61%1.94%2.40%+110 bps
Return on Equityn/an/an/a21.95%26.77%n/a
Net Interest Margin4.97%4.98%5.08%4.76%4.62%-36 bps
Efficiency Ratio65.93%63.15%61.33%60.90%54.27%-1,166 bps
Non-Interest Burden2.00%1.62%1.40%0.91%0.15%-185 bps
Growth
Asset Growth (YoY)8.46%0.57%-3.84%-4.99%-8.28%-1,673 bps
Loan Growth (YoY)-8.76%-2.33%-9.74%-15.42%-11.67%-291 bps
Deposit Growth (YoY)-3.71%-0.41%0.09%-4.96%-7.83%-412 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.93%1.01%1.19%1.51%1.50%+57 bps
Allowance / Loans1.97%2.42%3.14%3.27%3.30%+133 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 Capital12.63%12.65%12.75%13.04%12.66%+3 bps
Equity / Assets7.30%8.03%8.26%9.50%9.20%+190 bps
Liquidity & Funding
Loans / Deposits69.67%69.93%66.60%67.18%66.77%-290 bps
Liquid Assets / Assets1.94%2.82%3.16%2.84%3.00%+105 bps
CRE / Total Capitaln/an/an/an/an/an/an/a