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Letter portraitLegal landscapeQuarterYTD

Citibank (Nevada), National Association

Las Vegas, NV · Cert 26211

FDIC

Q3 2006

$13.9BAssets
$9.1BLoans
$6.5BDeposits
$3.1BEquity
Deposit mix
99%Interest-bearing $6.4B1%Noninterest $0.0BQ3 2005Q3 2006

NIM

13.76%Q3 ’0412.88%Q3 ’0514.50%Q3 ’06-16%+6%

Non-interest income vs. expense

6.95%Q3 ’049.99%Q3 ’0515.16%Q3 ’06+28%-114%

Executive Summary

  • Earnings: ROA of 7.28%, up 253 bps year over year; NIM at 11.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 6.63%.
  • Funding: loans stand at 141.02% of deposits as of Q3 2006.

Financial Results

Return on Assets (quarter, annualized)

7.28%+253 bps YoY

Net Interest Margin (quarter, annualized)

11.09%+63 bps YoY

Efficiency Ratio (quarter, annualized)

46.54%+465 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets4.75%5.19%4.39%5.84%7.28%+253 bps
Return on Equity21.12%27.49%21.49%27.66%33.00%+1,188 bps
Net Interest Margin10.46%10.83%8.97%11.00%11.09%+63 bps
Efficiency Ratio41.89%40.25%47.95%43.08%46.54%+465 bps
Non-Interest Burden-2.35%-2.94%-2.55%-3.20%-5.03%-268 bps
Growth
Asset Growth (YoY)-9.47%-9.60%-9.31%-16.73%-14.63%-516 bps
Loan Growth (YoY)-4.35%-13.10%-10.59%-20.58%-25.26%-2,090 bps
Deposit Growth (YoY)3.83%3.50%9.57%18.43%9.19%+535 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans6.95%6.45%5.85%7.07%6.63%-32 bps
Allowance / Loans4.60%3.85%3.95%4.31%4.46%-15 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 Capital10.72%17.86%16.58%15.38%13.02%+230 bps
Equity / Assets17.24%20.49%20.40%21.89%22.24%+500 bps
Liquidity & Funding
Loans / Deposits206%219%189.14%154.57%141.02%-6,498 bps
Liquid Assets / Assets0.77%0.00%0.00%0.00%0.00%-76 bps
CRE / Total Capitaln/an/an/an/an/an/an/a