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Sears National Bank

Tempe, AZ · Cert 21643

FDIC

Q1 2004

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q1 2004, the quarter ended March 31, 2004, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Sears National Bank

Tempe, AZ · Cert 21643

FDIC

Q1 2004

$86.3MAssets
n/aLoans
$504KDeposits
$70.9MEquity
Deposit mix
100%Interest-bearing $504K0%Noninterest $0KQ1 2003Q1 2004

NIM

4.62%Q1 ’023.45%Q1 ’030.92%Q1 ’04-28%-44%

Non-interest income vs. expense

31.70%Q1 ’0240.79%Q1 ’030.21%Q1 ’04-150%+101%

Executive Summary

  • Earnings: ROA of 0.40%, down 1,500 bps year over year; NIM at 0.90%.
  • Funding: loans stand at 0.00% of deposits as of Q1 2004.

Financial Results

Return on Assets (YTD, annualized)

0.40%-1,500 bps YoY

Net Interest Margin (YTD, annualized)

0.90%-69 bps YoY

Efficiency Ratio (YTD, annualized)

23.01%-3,947 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets15.41%15.97%16.58%25.15%0.40%-1,500 bps
Return on Equity118.91%120.71%114.20%127.82%0.49%-11,842 bps
Net Interest Margin1.59%1.44%1.24%1.55%0.90%-69 bps
Efficiency Ratio62.48%62.27%62.18%51.57%23.01%-3,947 bps
Non-Interest Burden-22.90%-27.10%-27.04%-53.21%0.21%+2,311 bps
Growth
Asset Growth (YoY)19.31%2.34%18.22%-66.76%-69.23%-8,854 bps
Loan Growth (YoY)n/an/an/an/a-100.00%n/an/a
Deposit Growth (YoY)-20.00%-20.00%-20.00%-99.50%-99.37%-7,937 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%n/an/an/a
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%n/an/a
Allowance / Loans0.00%0.00%0.00%n/an/an/a
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 Capital138.69%119.17%151.62%409%408%+26,973 bps
Equity / Assets11.45%13.81%18.60%82.13%82.17%+7,072 bps
Liquidity & Funding
Loans / Deposits100.00%100.00%100.00%0.00%0.00%-10,000 bps
Liquid Assets / Assets5.39%7.87%2.22%0.42%0.35%-503 bps
CRE / Total Capitaln/an/an/an/an/an/an/a