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Shorebank, Pacific

Ilwaco, WA · Cert 22680

FDIC

Q3 2010

$180.1MAssets
$101.2MLoans
$139.8MDeposits
$14.7MEquity
Deposit mix
93%Interest-bearing $129.6M7%Noninterest $10.2MQ3 2009Q3 2010

NIM

5.74%Q3 ’084.85%Q3 ’094.87%Q3 ’10+1%+4%

Non-interest income vs. expense

2.34%Q3 ’082.06%Q3 ’092.82%Q3 ’10-12%+38%

Executive Summary

  • Earnings: ROA of -0.88%, down 146 bps year over year; NIM at 3.38%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.70%.
  • Funding: loans stand at 72.39% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

-0.88%-146 bps YoY

Net Interest Margin (quarter, annualized)

3.38%+13 bps YoY

Efficiency Ratio (quarter, annualized)

80.77%+1,919 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets0.58%0.12%1-0.59%-1.35%-0.88%-146 bps
Return on Equity7.94%1.59%-8.17%-18.77%-11.23%-1,917 bps
Net Interest Margin3.25%3.18%3.24%3.05%3.38%+13 bps
Efficiency Ratio61.58%65.21%72.92%92.23%80.77%+1,919 bps
Non-Interest Burden1.97%2.04%2.33%2.80%2.71%+74 bps
Growth
Asset Growth (YoY)14.30%-4.70%-2.09%-12.31%-21.88%-3,618 bps
Loan Growth (YoY)10.92%0.73%-5.99%-9.81%-9.34%-2,026 bps
Deposit Growth (YoY)16.04%12.37%7.13%-6.89%-21.28%-3,732 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.87%5.91%3.61%3.29%3.70%-117 bps
Allowance / Loans2.07%1.64%1.86%1.58%1.45%-62 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 Capital13.02%13.64%13.50%13.41%10.68%-234 bps
Equity / Assets7.50%7.46%6.95%7.52%8.14%+64 bps
Liquidity & Funding
Loans / Deposits62.86%66.84%59.44%65.46%72.39%+953 bps
Liquid Assets / Assets1.29%3.28%3.79%6.24%5.42%+413 bps
CRE / Total Capitaln/an/an/an/an/an/an/a