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Letter portraitLegal landscapeQuarterYTD

First National Bank

San Diego, CA · Cert 23634

FDIC

Q2 2002

$645.9MAssets
$392.8MLoans
$520.0MDeposits
$53.1MEquity
Loan mix
26%RE $52.9M73%C&I $147.9M1%Consumer $2.5MQ2 2001Q2 2002
Deposit mix
71%Interest-bearing $366.7M29%Noninterest $153.3MQ2 2001Q2 2002

NIM

8.02%Q1 ’017.59%Q2 ’015.61%Q2 ’02-4%-6%

Non-interest income vs. expense

4.53%Q1 ’014.66%Q2 ’014.34%Q2 ’02+6%-20%

Executive Summary

  • Earnings: ROA of 0.32%, up 109 bps year over year; NIM at 3.87%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.28%.
  • Funding: loans stand at 75.53% of deposits as of Q2 2002.

Financial Results

Return on Assets (YTD, annualized)

0.32%+109 bps YoY

Net Interest Margin (YTD, annualized)

3.87%-25 bps YoY

Efficiency Ratio (YTD, annualized)

78.26%-720 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets-0.77%-0.64%-0.70%0.18%0.32%+109 bps
Return on Equityn/an/an/a2.38%4.05%n/a
Net Interest Margin4.12%4.06%3.96%3.58%3.87%-25 bps
Efficiency Ratio85.46%87.33%93.24%82.93%78.26%-720 bps
Non-Interest Burden3.33%3.38%3.60%2.74%2.67%-65 bps
Growth
Asset Growth (YoY)-0.82%-2.08%2.54%-5.34%-5.59%-478 bps
Loan Growth (YoY)9.39%4.02%-8.33%-9.14%-10.97%-2,036 bps
Deposit Growth (YoY)7.40%-1.03%3.80%-5.09%-6.41%-1,381 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.90%1.48%1.65%1.31%2.28%+138 bps
Allowance / Loans2.70%2.45%2.63%2.51%2.17%-52 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 Capital11.51%11.56%11.52%11.74%12.34%+83 bps
Equity / Assets7.58%7.77%7.22%7.95%8.22%+64 bps
Liquidity & Funding
Loans / Deposits79.39%79.92%68.95%77.57%75.53%-387 bps
Liquid Assets / Assets0.03%0.16%0.33%0.03%0.08%+5 bps
CRE / Total Capitaln/an/an/an/an/an/an/a