PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

County Bank

Merced, CA · Cert 22574

FDIC

Q4 2008

$1.7BAssets
$1.3BLoans
$1.3BDeposits
$61.7MEquity
Loan mix
64%RE $497.6M35%C&I $270.8M1%Consumer $10.3MQ4 2007Q4 2008
Deposit mix
81%Interest-bearing $1.1B19%Noninterest $0.3BQ4 2007Q4 2008

NIM

6.40%Q4 ’066.43%Q4 ’076.59%Q4 ’08-9%+19%

Non-interest income vs. expense

2.78%Q4 ’063.34%Q4 ’076.51%Q4 ’08+24%+124%

Executive Summary

  • Earnings: ROA of -4.91%, down 477 bps year over year; NIM at 4.31%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.09%.
  • Funding: loans stand at 97.72% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

-4.91%-477 bps YoY

Net Interest Margin (YTD, annualized)

4.31%+70 bps YoY

Efficiency Ratio (YTD, annualized)

107.48%+2,875 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets-0.14%0.50%-0.88%-4.02%-4.91%-477 bps
Return on Equity-1.69%6.58%-11.78%-58.65%-78.01%-7,633 bps
Net Interest Margin3.61%3.94%3.93%3.95%4.31%+70 bps
Efficiency Ratio78.73%82.17%106.21%102.19%107.48%+2,875 bps
Non-Interest Burden2.71%3.14%4.26%5.67%6.08%+337 bps
Growth
Asset Growth (YoY)6.46%12.42%9.33%-4.42%-17.80%-2,426 bps
Loan Growth (YoY)22.02%21.58%9.53%1.37%-13.45%-3,547 bps
Deposit Growth (YoY)2.51%-0.68%5.18%-6.97%-21.01%-2,352 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.66%0.24%2.97%2.63%4.09%+343 bps
Allowance / Loans2.39%2.42%2.07%2.55%2.95%+56 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 Capital9.94%9.92%9.17%8.41%6.53%-340 bps
Equity / Assets7.61%7.67%7.01%4.93%3.61%-401 bps
Liquidity & Funding
Loans / Deposits89.19%97.46%89.20%96.23%97.72%+853 bps
Liquid Assets / Assets7.48%7.26%0.01%0.01%0.01%-746 bps
CRE / Total Capitaln/an/an/an/an/an/an/a