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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

5.94%Q4 ’025.78%Q4 ’035.78%Q4 ’04+11%0%

Non-interest income vs. expense

3.05%Q4 ’023.24%Q4 ’033.35%Q4 ’04+11%-17%

Executive Summary

  • Earnings: ROA of 2.02%, up 78 bps year over year; NIM at 4.80%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.10%.
  • Funding: loans stand at 110.94% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

2.02%+78 bps YoY

Net Interest Margin (quarter, annualized)

4.80%0 bps YoY

Efficiency Ratio (quarter, annualized)

50.17%-147 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.24%1.54%1.70%1.81%2.02%+78 bps
Return on Equity15.41%19.06%20.14%21.32%23.32%+792 bps
Net Interest Margin4.81%4.63%4.63%4.85%4.80%0 bps
Efficiency Ratio51.64%56.28%53.58%52.45%50.17%-147 bps
Non-Interest Burden1.77%2.02%1.80%1.89%1.47%-30 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 / Loans0.37%-0.01%0.13%-0.03%-0.10%-47 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