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Firstbank of Avon

Avon, CO · Cert 23568

FDIC

Q3 2010

$350.7MAssets
$245.9MLoans
$270.2MDeposits
$27.3MEquity
Loan mix
99%RE $235.6M1%C&I $2.4M0%Consumer $1.1MQ3 2009Q3 2010
Deposit mix
76%Interest-bearing $206.4M24%Noninterest $63.8MQ3 2009Q3 2010

NIM

5.47%Q3 ’085.34%Q3 ’095.11%Q3 ’10+22%+0%

Non-interest income vs. expense

2.09%Q3 ’082.36%Q3 ’092.66%Q3 ’10+27%+19%

Executive Summary

  • Earnings: ROA of 1.36%, down 8 bps year over year; NIM at 4.70%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.59%.
  • Funding: loans stand at 90.99% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

1.36%-8 bps YoY

Net Interest Margin (quarter, annualized)

4.70%+1 bps YoY

Efficiency Ratio (quarter, annualized)

48.11%+538 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets1.43%2.11%1.42%1.00%1.36%-8 bps
Return on Equity18.79%26.55%17.88%13.03%17.66%-113 bps
Net Interest Margin4.69%4.71%4.67%4.70%4.70%+1 bps
Efficiency Ratio42.73%45.95%46.94%47.62%48.11%+538 bps
Non-Interest Burden1.53%1.68%1.75%1.81%1.82%+29 bps
Growth
Asset Growth (YoY)-2.40%-9.11%-8.70%-8.50%-5.51%-311 bps
Loan Growth (YoY)12.18%4.90%6.06%4.20%4.32%-785 bps
Deposit Growth (YoY)-4.08%-3.58%-2.65%0.90%-6.20%-212 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.38%0.89%0.15%0.25%0.59%+21 bps
Allowance / Loans1.47%1.53%1.77%2.25%2.44%+96 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 Capital15.37%15.92%14.97%14.53%14.90%-47 bps
Equity / Assets7.73%8.18%7.71%7.60%7.77%+4 bps
Liquidity & Funding
Loans / Deposits81.81%81.44%78.92%87.20%90.99%+917 bps
Liquid Assets / Assets17.97%17.84%17.34%16.32%15.08%-289 bps
CRE / Total Capitaln/an/an/an/an/an/an/a