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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

6.82%Q3 ’067.16%Q3 ’076.00%Q3 ’08+1%-13%

Non-interest income vs. expense

4.51%Q3 ’064.37%Q3 ’073.35%Q3 ’08-6%-25%

Executive Summary

  • Earnings: ROA of 1.81%, up 18 bps year over year; NIM at 4.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.16%.
  • Funding: loans stand at 77.08% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

1.81%+18 bps YoY

Net Interest Margin (quarter, annualized)

4.40%-67 bps YoY

Efficiency Ratio (quarter, annualized)

47.01%-2,585 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets1.63%1.76%5.63%-4.10%1.81%+18 bps
Return on Equity22.80%24.18%73.29%-34.93%11.85%-1,095 bps
Net Interest Margin5.07%4.75%4.90%-1.44%4.40%-67 bps
Efficiency Ratio72.86%72.10%41.62%70.13%47.01%-2,585 bps
Non-Interest Burden3.44%3.03%-0.65%2.66%2.60%-84 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 / Loans0.13%-0.13%-0.03%0.49%0.16%+2 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