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Letter portraitLegal landscapeQuarterYTD

Western Security Bank, National Association

Burbank, CA · Cert 25058

FDIC

Q1 2002

$156.4MAssets
$98.4MLoans
$137.2MDeposits
$11.7MEquity
Loan mix
35%RE $12.4M63%C&I $22.4M2%Consumer $0.6MQ1 2001Q1 2002
Deposit mix
63%Interest-bearing $86.8M37%Noninterest $50.3MQ1 2001Q1 2002

NIM

8.97%Q1 ’016.29%Q1 ’02-32%

Non-interest income vs. expense

6.43%Q1 ’015.31%Q1 ’02-9%

Executive Summary

  • Earnings: ROA of -0.62%, down 65 bps year over year; NIM at 3.73%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.23%.
  • Funding: loans stand at 71.71% of deposits as of Q1 2002.

Financial Results

Return on Assets (YTD, annualized)

-0.62%-65 bps YoY

Net Interest Margin (YTD, annualized)

3.73%-176 bps YoY

Efficiency Ratio (YTD, annualized)

107.36%+2,046 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets0.04%-0.56%-0.80%-1.80%-0.62%-65 bps
Return on Equityn/an/an/an/a-7.76%n/an/a
Net Interest Margin5.49%5.12%4.75%4.68%3.73%-176 bps
Efficiency Ratio86.90%92.76%99.15%121.23%107.36%+2,046 bps
Non-Interest Burden4.52%4.63%4.70%5.92%4.12%-40 bps
Growth
Asset Growth (YoY)-2.09%5.17%-1.69%-2.56%8.40%+1,050 bps
Loan Growth (YoY)-11.30%-17.08%-16.32%-15.34%-3.44%+786 bps
Deposit Growth (YoY)0.10%1.58%-2.38%-0.08%8.00%+791 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.94%2.41%2.34%2.72%1.23%-70 bps
Allowance / Loans1.65%1.81%1.75%1.58%1.49%-15 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 Capital13.25%12.82%12.64%10.27%10.06%-319 bps
Equity / Assets10.24%9.12%9.45%8.45%7.47%-276 bps
Liquidity & Funding
Loans / Deposits80.21%69.62%75.16%79.70%71.71%-850 bps
Liquid Assets / Assets1.00%0.89%0.93%0.93%0.80%-20 bps
CRE / Total Capitaln/an/an/an/an/an/an/a