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Mercantile Bank Texas

Fort Worth, TX · Cert 22790

FDIC

Q2 2004

$212.7MAssets
$151.1MLoans
$194.7MDeposits
$16.5MEquity
Deposit mix
60%Interest-bearing $117.6M40%Noninterest $77.2MQ2 2003Q2 2004

NIM

5.69%Q2 ’025.48%Q2 ’035.16%Q2 ’04+4%-4%

Non-interest income vs. expense

3.59%Q2 ’023.74%Q2 ’033.38%Q2 ’04+5%-14%

Executive Summary

  • Earnings: ROA of 0.54%, down 30 bps year over year; NIM at 4.68%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.31%.
  • Funding: loans stand at 77.58% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

0.54%-30 bps YoY

Net Interest Margin (quarter, annualized)

4.68%-18 bps YoY

Efficiency Ratio (quarter, annualized)

63.37%-526 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets0.83%1.02%1.16%1.06%0.54%-30 bps
Return on Equity12.14%14.38%14.46%13.33%6.85%-529 bps
Net Interest Margin4.87%4.82%4.85%4.96%4.68%-18 bps
Efficiency Ratio68.64%64.94%65.31%63.44%63.37%-526 bps
Non-Interest Burden3.16%2.91%2.95%2.90%2.73%-43 bps
Growth
Asset Growth (YoY)52.68%4.08%9.39%8.35%-10.27%-6,295 bps
Loan Growth (YoY)31.61%30.53%29.71%21.84%18.44%-1,317 bps
Deposit Growth (YoY)57.23%3.72%8.68%8.87%-11.41%-6,864 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.01%0.00%0.00%0.31%+28 bps
Allowance / Loans1.01%1.02%1.00%1.15%1.44%+42 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 Capital10.29%11.04%10.89%11.18%11.28%+99 bps
Equity / Assets6.29%8.08%7.93%7.91%7.75%+146 bps
Liquidity & Funding
Loans / Deposits58.03%78.44%79.21%77.26%77.58%+1,956 bps
Liquid Assets / Assets0.51%2.45%2.55%0.52%0.49%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a