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Letter portraitLegal landscapeQuarterYTD

Bay Area Bank

Redwood City, CA · Cert 22984

FDIC

Q4 2003

$339.4MAssets
$130.2MLoans
$190.1MDeposits
$24.9MEquity
Loan mix
46%RE $18.5M53%C&I $21.0M1%Consumer $0.4MQ4 2002Q4 2003
Deposit mix
90%Interest-bearing $171.8M10%Noninterest $18.3MQ4 2002Q4 2003

NIM

5.71%Q4 ’016.02%Q4 ’024.87%Q4 ’03+22%-12%

Non-interest income vs. expense

2.11%Q4 ’011.87%Q4 ’021.99%Q4 ’03-20%+17%

Executive Summary

  • Earnings: ROA of 1.08%, down 33 bps year over year; NIM at 3.77%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.93%.
  • Funding: loans stand at 68.47% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

1.08%-33 bps YoY

Net Interest Margin (YTD, annualized)

3.77%-52 bps YoY

Efficiency Ratio (YTD, annualized)

46.11%+817 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets1.41%0.53%0.75%0.89%1.08%-33 bps
Return on Equity24.57%8.48%11.93%14.08%16.63%-794 bps
Net Interest Margin4.29%3.50%3.70%3.58%3.77%-52 bps
Efficiency Ratio37.93%37.55%43.30%46.27%46.11%+817 bps
Non-Interest Burden1.23%0.80%1.25%1.37%1.44%+21 bps
Growth
Asset Growth (YoY)9.78%1.51%-3.61%-1.29%-15.71%-2,549 bps
Loan Growth (YoY)12.40%12.31%-0.18%-12.92%-28.78%-4,118 bps
Deposit Growth (YoY)8.22%0.99%-1.65%-14.35%-18.21%-2,644 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.58%1.89%1.64%1.77%1.93%+135 bps
Allowance / Loans3.30%3.93%4.19%4.18%4.65%+135 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 Capital12.26%12.72%12.92%13.66%16.61%+434 bps
Equity / Assets6.08%6.39%6.32%6.38%7.33%+125 bps
Liquidity & Funding
Loans / Deposits78.63%78.32%74.32%75.38%68.47%-1,016 bps
Liquid Assets / Assets0.06%0.07%0.00%0.05%0.03%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a