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First Mutual Bank

Bellevue, WA · Cert 19835

FDIC

Q4 2007

$1.0BAssets
$936.6MLoans
$764.0MDeposits
$86.1MEquity
Loan mix
82%RE $579.4M18%C&I $124.4M0%Consumer $0.0MQ4 2006Q4 2007
Deposit mix
92%Interest-bearing $701.4M8%Noninterest $62.6MQ4 2006Q4 2007

NIM

6.98%Q4 ’057.67%Q4 ’067.60%Q4 ’07-7%-1%

Non-interest income vs. expense

2.76%Q4 ’052.55%Q4 ’062.49%Q4 ’07-17%+2%

Executive Summary

  • Earnings: ROA of 0.83%, down 25 bps year over year; NIM at 3.84%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.20%.
  • Funding: loans stand at 122.60% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

0.83%-25 bps YoY

Net Interest Margin (quarter, annualized)

3.84%-3 bps YoY

Efficiency Ratio (quarter, annualized)

58.12%+42 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets1.08%1.16%0.87%0.96%0.83%-25 bps
Return on Equity13.63%13.68%9.80%11.08%9.98%-365 bps
Net Interest Margin3.87%3.81%3.71%4.08%3.84%-3 bps
Efficiency Ratio57.70%60.00%68.07%62.51%58.12%+42 bps
Non-Interest Burden2.00%1.96%2.32%2.41%2.05%+5 bps
Growth
Asset Growth (YoY)-0.58%-2.61%-6.73%-6.95%-4.83%-425 bps
Loan Growth (YoY)1.62%-0.42%-4.41%-1.84%3.24%+163 bps
Deposit Growth (YoY)5.18%-1.34%0.14%-1.92%-5.75%-1,093 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.36%0.07%0.08%0.07%0.20%-15 bps
Allowance / Loans1.07%1.10%1.10%1.10%1.18%+11 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 Capital12.40%12.63%12.92%11.66%11.76%-64 bps
Equity / Assets8.25%8.65%9.03%8.33%8.39%+14 bps
Liquidity & Funding
Loans / Deposits111.92%114.53%116.12%119.24%122.60%+1,068 bps
Liquid Assets / Assets1.17%0.83%1.22%1.12%0.72%-45 bps
CRE / Total Capitaln/an/an/an/an/an/an/a