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Letter portraitLegal landscapeQuarterYTD

American Investment Bank, National Association

Salt Lake City, UT · Cert 25192

FDIC

Q2 2005

$157.4MAssets
$3.3MLoans
$15.9MDeposits
$101.0MEquity
Deposit mix
99%Interest-bearing $15.8M1%Noninterest $0.1MQ2 2004Q2 2005

NIM

15.54%Q2 ’039.03%Q2 ’042.63%Q2 ’05-44%-78%

Non-interest income vs. expense

7.13%Q2 ’0310.94%Q2 ’041.76%Q2 ’05-220%+103%

Executive Summary

  • Earnings: ROA of 1.73%, down 1,897 bps year over year; NIM at 1.52%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.33%.
  • Funding: loans stand at 20.45% of deposits as of Q2 2005.

Financial Results

Return on Assets (quarter, annualized)

1.73%-1,897 bps YoY

Net Interest Margin (quarter, annualized)

1.52%-535 bps YoY

Efficiency Ratio (quarter, annualized)

57.47%+1,263 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2004Q3 2004Q4 2004Q1 2005Q2 2005YoY ΔTrend
Earnings
Return on Assets20.71%18.42%-3.55%-0.23%1.73%-1,897 bps
Return on Equity43.87%33.36%-5.73%-0.35%2.64%-4,123 bps
Net Interest Margin6.86%0.76%1.12%1.54%1.52%-535 bps
Efficiency Ratio44.84%34.47%54.77%132.49%57.47%+1,263 bps
Non-Interest Burden-6.60%-12.58%4.92%2.28%0.22%+681 bps
Growth
Asset Growth (YoY)-34.53%-17.71%-15.61%-6.75%-11.43%+2,311 bps
Loan Growth (YoY)-97.38%-97.32%-96.87%-96.05%-34.68%+6,270 bps
Deposit Growth (YoY)-63.53%-67.84%-73.53%-69.95%-75.28%-1,175 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans154.62%-212%-99.48%-1.17%2.33%-15,229 bps
Allowance / Loans0.46%0.53%22.56%20.67%18.09%+1,763 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 Capital220%267%332%368%358%+13,831 bps
Equity / Assets52.50%57.97%66.46%66.83%64.18%+1,168 bps
Liquidity & Funding
Loans / Deposits7.74%11.21%16.98%17.11%20.45%+1,271 bps
Liquid Assets / Assets5.47%1.34%0.07%1.03%2.38%-309 bps
CRE / Total Capitaln/an/an/an/an/an/an/a