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Letter portraitLegal landscapeQuarterYTD

Peninsula Bank of Commerce

Millbrae, CA · Cert 23543

FDIC

Q4 2003

$394.6MAssets
$198.0MLoans
$261.5MDeposits
$39.7MEquity
Loan mix
49%RE $26.1M49%C&I $25.8M2%Consumer $1.1MQ4 2002Q4 2003
Deposit mix
94%Interest-bearing $245.7M6%Noninterest $15.9MQ4 2002Q4 2003

NIM

6.56%Q4 ’015.85%Q4 ’025.55%Q4 ’03-2%+3%

Non-interest income vs. expense

1.49%Q4 ’011.19%Q4 ’021.74%Q4 ’03-23%+40%

Executive Summary

  • Earnings: ROA of 1.60%, down 19 bps year over year; NIM at 4.21%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.68%.
  • Funding: loans stand at 75.69% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

1.60%-19 bps YoY

Net Interest Margin (YTD, annualized)

4.21%+13 bps YoY

Efficiency Ratio (YTD, annualized)

38.83%+1,063 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 Assets1.79%1.31%1.45%1.50%1.60%-19 bps
Return on Equity31.08%18.38%19.47%19.02%19.42%-1,166 bps
Net Interest Margin4.08%3.46%3.68%4.06%4.21%+13 bps
Efficiency Ratio28.20%40.33%39.22%40.36%38.83%+1,063 bps
Non-Interest Burden1.06%1.25%1.29%1.48%1.47%+42 bps
Growth
Asset Growth (YoY)24.46%-2.08%-18.63%-26.67%-26.56%-5,101 bps
Loan Growth (YoY)-0.79%-1.61%-7.41%-12.36%-8.90%-811 bps
Deposit Growth (YoY)35.52%49.71%-22.00%-25.33%-20.60%-5,613 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.89%0.15%0.48%0.70%0.68%-21 bps
Allowance / Loans3.07%2.97%2.99%2.96%2.68%-39 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 Capital14.92%15.30%16.66%18.59%18.83%+391 bps
Equity / Assets6.72%7.54%8.18%9.33%10.06%+334 bps
Liquidity & Funding
Loans / Deposits65.97%60.29%73.38%71.25%75.69%+973 bps
Liquid Assets / Assets0.02%0.05%0.52%0.09%0.06%+4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a