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Far West Bank

Provo, UT · Cert 21987

FDIC

Q1 2007

$438.8MAssets
$355.8MLoans
$383.6MDeposits
$50.9MEquity
Loan mix
73%RE $221.7M26%C&I $77.4M1%Consumer $3.3MQ1 2006Q1 2007
Deposit mix
86%Interest-bearing $331.5M14%Noninterest $52.0MQ1 2006Q1 2007

NIM

7.10%Q1 ’058.48%Q1 ’069.55%Q1 ’07+21%+8%

Non-interest income vs. expense

4.57%Q1 ’054.93%Q1 ’067.09%Q1 ’07-9%+77%

Executive Summary

  • Earnings: ROA of 0.84%, down 175 bps year over year; NIM at 8.26%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 92.76% of deposits as of Q1 2007.

Financial Results

Return on Assets (YTD, annualized)

0.84%-175 bps YoY

Net Interest Margin (YTD, annualized)

8.26%+64 bps YoY

Efficiency Ratio (YTD, annualized)

67.49%+1,810 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2006Q2 2006Q3 2006Q4 2006Q1 2007YoY ΔTrend
Earnings
Return on Assets2.59%2.66%2.86%2.83%0.84%-175 bps
Return on Equity21.09%21.18%22.30%21.74%6.63%-1,446 bps
Net Interest Margin7.62%7.70%7.74%6.81%8.26%+64 bps
Efficiency Ratio49.39%47.64%47.60%49.34%67.49%+1,810 bps
Non-Interest Burden2.84%2.80%2.81%2.63%5.03%+219 bps
Growth
Asset Growth (YoY)2.98%6.91%3.76%6.52%10.42%+743 bps
Loan Growth (YoY)9.89%13.60%10.02%15.53%12.14%+225 bps
Deposit Growth (YoY)7.47%5.85%1.85%3.26%12.18%+471 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.06%0.06%0.05%0.21%0.15%+21 bps
Allowance / Loans1.82%1.93%1.99%1.70%2.19%+37 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 Capital14.64%15.21%15.74%15.77%13.43%-121 bps
Equity / Assets12.71%13.10%13.50%13.86%11.59%-112 bps
Liquidity & Funding
Loans / Deposits92.80%93.23%91.23%95.40%92.76%-4 bps
Liquid Assets / Assets0.08%0.08%0.13%0.12%0.09%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a