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Granite State Bank

Monrovia, CA · Cert 25144

FDIC

Q4 2004

$109.0MAssets
$64.7MLoans
$97.4MDeposits
$10.7MEquity
Loan mix
54%RE $11.8M45%C&I $9.8M0%Consumer $0.1MQ4 2003Q4 2004
Deposit mix
59%Interest-bearing $57.4M41%Noninterest $40.0MQ4 2003Q4 2004

NIM

4.61%Q4 ’024.40%Q4 ’034.64%Q4 ’04-1%+6%

Non-interest income vs. expense

3.54%Q4 ’023.87%Q4 ’036.36%Q4 ’04+16%+79%

Executive Summary

  • Earnings: ROA of -0.93%, down 142 bps year over year; NIM at 4.28%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 66.45% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

-0.93%-142 bps YoY

Net Interest Margin (quarter, annualized)

4.28%+24 bps YoY

Efficiency Ratio (quarter, annualized)

133.78%+5,006 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets0.48%0.68%0.77%0.95%-0.93%-142 bps
Return on Equity5.19%7.30%8.52%10.48%-9.88%-1,508 bps
Net Interest Margin4.05%3.99%3.91%4.19%4.28%+24 bps
Efficiency Ratio83.72%77.36%71.20%64.62%133.78%+5,006 bps
Non-Interest Burden3.30%2.97%2.65%2.55%5.89%+260 bps
Growth
Asset Growth (YoY)-24.48%15.03%9.58%7.91%10.11%+3,459 bps
Loan Growth (YoY)-14.11%-10.01%-6.11%1.09%6.68%+2,080 bps
Deposit Growth (YoY)-27.02%15.76%10.05%7.76%9.63%+3,665 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.40%-0.01%-1 bps
Allowance / Loans1.35%1.26%1.24%1.11%1.11%-24 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 Capital14.99%14.61%14.85%14.87%15.65%+67 bps
Equity / Assets9.59%8.95%9.06%9.07%9.85%+25 bps
Liquidity & Funding
Loans / Deposits68.29%63.26%64.21%63.44%66.45%-184 bps
Liquid Assets / Assets11.21%10.44%15.22%15.02%16.45%+524 bps
CRE / Total Capitaln/an/an/an/an/an/an/a