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Finance and Thrift Company

Porterville, CA · Cert 25870

FDIC · 6 branches

Q2 2015

$118.0MAssets
$92.4MLoans
$83.4MDeposits
$33.0MEquity
Loan mix
0%RE $0.4M0%C&I $0.4M99%Consumer $91.7MQ2 2014Q2 2015
Deposit mix
99%Interest-bearing $82.5M1%Noninterest $0.9MQ2 2014Q2 2015

NIM

12.13%Q2 ’1312.83%Q2 ’1413.55%Q2 ’15+7%+6%

Non-interest income vs. expense

8.35%Q2 ’138.92%Q2 ’1410.64%Q2 ’15+5%+30%

Market Position · Visalia-Porterville, CA · 2015 SOD (annual) · 1.3% share · #14 of 15 inst. · $0.1B of $4.5B

1.3% Tulare
0.1% Fresno
0.1% Kern
0.0% Stanislaus

Executive Summary

  • Earnings: ROA of -0.83%, down 175 bps year over year; NIM at 12.80%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.69%.
  • Capital: tier 1 leverage ratio of 27.62%.
  • Funding: loans stand at 110.81% of deposits as of Q2 2015.

Financial Results

Return on Assets (quarter, annualized)

-0.83%-175 bps YoY

Net Interest Margin (quarter, annualized)

12.80%+78 bps YoY

Efficiency Ratio (quarter, annualized)

73.36%+1,006 bps YoY

Tier 1 Leverage Ratio

27.62%

Discrete quarter, annualized.

MetricQ2 2014Q3 2014Q4 2014Q1 2015Q2 2015YoY ΔTrend
Earnings
Return on Assets0.92%0.83%0.81%0.45%-0.83%-175 bps
Return on Equity3.69%3.28%3.13%1.67%-2.98%-667 bps
Net Interest Margin12.03%12.37%12.40%12.12%12.80%+78 bps
Efficiency Ratio63.30%59.57%65.89%68.46%73.36%+1,006 bps
Non-Interest Burden6.86%6.58%7.59%7.54%8.94%+208 bps
Growth
Asset Growth (YoY)-4.77%-5.79%-3.42%-4.21%-4.33%+44 bps
Loan Growth (YoY)3.31%4.65%4.33%4.34%2.00%-131 bps
Deposit Growth (YoY)-7.15%-8.43%-6.04%-7.24%-6.81%+35 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.12%7.01%3.32%5.28%3.69%-43 bps
Allowance / Loans4.17%3.85%4.05%3.99%4.45%+28 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/a27.18%27.62%n/a
Total Risk-Based Capital32.66%32.47%32.75%34.06%33.98%+132 bps
Equity / Assets25.16%25.73%25.79%27.69%27.93%+276 bps
Liquidity & Funding
Loans / Deposits101.24%104.58%103.54%108.14%110.81%+957 bps
Liquid Assets / Assets17.57%15.24%16.01%13.66%12.60%-497 bps
CRE / Total Capitaln/an/an/an/an/an/an/a