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First Mountain Bank

Leadville, CO · Cert 23216

FDIC

Q3 2008

$27.1MAssets
$15.5MLoans
$20.1MDeposits
$4.2MEquity
Loan mix
94%RE $12.4M6%C&I $0.8M0%Consumer $0.0MQ3 2007Q3 2008
Deposit mix
75%Interest-bearing $15.1M25%Noninterest $4.9MQ3 2007Q3 2008

NIM

6.51%Q3 ’067.00%Q3 ’073.35%Q3 ’08+2%-51%

Non-interest income vs. expense

4.44%Q3 ’064.38%Q3 ’071.91%Q3 ’08-2%-56%

Executive Summary

  • Earnings: ROA of 1.01%, down 67 bps year over year; NIM at 2.45%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.21%.
  • Funding: loans stand at 77.08% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

1.01%-67 bps YoY

Net Interest Margin (YTD, annualized)

2.45%-250 bps YoY

Efficiency Ratio (YTD, annualized)

56.19%-1,806 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets1.68%1.70%5.63%0.56%1.01%-67 bps
Return on Equity23.46%23.64%73.29%5.39%8.59%-1,487 bps
Net Interest Margin4.95%4.88%4.90%1.57%2.45%-250 bps
Efficiency Ratio74.25%73.69%41.62%70.13%56.19%-1,806 bps
Non-Interest Burden3.43%3.32%-0.65%1.03%1.51%-192 bps
Growth
Asset Growth (YoY)0.02%4.02%5.19%15.22%18.05%+1,803 bps
Loan Growth (YoY)9.25%9.73%5.31%5.55%2.25%-700 bps
Deposit Growth (YoY)0.81%3.26%3.83%5.88%11.77%+1,096 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.21%-0.18%-0.03%0.23%0.21%+42 bps
Allowance / Loans1.67%1.64%1.73%1.55%1.51%-16 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 Capital14.37%14.13%16.41%16.05%17.04%+266 bps
Equity / Assets7.22%7.30%8.05%15.02%15.61%+839 bps
Liquidity & Funding
Loans / Deposits84.25%90.78%81.65%79.98%77.08%-718 bps
Liquid Assets / Assets26.89%25.52%22.88%23.84%26.41%-48 bps
CRE / Total Capitaln/an/an/an/an/an/an/a