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National Bank of the Redwoods

Santa Rosa, CA · Cert 25910

FDIC

Q4 2004

$506.4MAssets
$436.4MLoans
$393.4MDeposits
$44.8MEquity
Loan mix
81%RE $131.2M19%C&I $31.1M0%Consumer $0.2MQ4 2003Q4 2004
Deposit mix
88%Interest-bearing $347.4M12%Noninterest $46.0MQ4 2003Q4 2004

NIM

5.97%Q4 ’025.85%Q4 ’035.59%Q4 ’04+9%+0%

Non-interest income vs. expense

2.94%Q4 ’023.10%Q4 ’033.28%Q4 ’04+18%0%

Executive Summary

  • Earnings: ROA of 1.77%, up 11 bps year over year; NIM at 4.69%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 110.94% of deposits as of Q4 2004.

Financial Results

Return on Assets (YTD, annualized)

1.77%+11 bps YoY

Net Interest Margin (YTD, annualized)

4.69%+1 bps YoY

Efficiency Ratio (YTD, annualized)

53.02%+128 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.66%1.54%1.62%1.68%1.77%+11 bps
Return on Equity21.26%19.06%19.68%20.24%21.04%-22 bps
Net Interest Margin4.67%4.63%4.64%4.70%4.69%+1 bps
Efficiency Ratio51.74%56.28%54.92%54.08%53.02%+128 bps
Non-Interest Burden1.79%2.02%1.91%1.90%1.78%-1 bps
Growth
Asset Growth (YoY)2.87%-4.72%-2.49%1.01%-3.93%-680 bps
Loan Growth (YoY)13.60%3.40%2.01%7.94%5.24%-836 bps
Deposit Growth (YoY)1.52%-5.33%-2.48%-8.97%-14.50%-1,602 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.06%-0.01%0.06%0.03%0.00%-6 bps
Allowance / Loans1.73%1.74%1.66%1.59%1.64%-8 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 Capital10.65%11.05%10.97%10.72%11.20%+55 bps
Equity / Assets7.79%8.39%8.48%8.50%8.85%+106 bps
Liquidity & Funding
Loans / Deposits90.14%90.08%93.15%106.76%110.94%+2,080 bps
Liquid Assets / Assets3.33%3.49%3.37%2.75%2.80%-53 bps
CRE / Total Capitaln/an/an/an/an/an/an/a