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Universal Financial Corp.

Salt Lake City, UT · Cert 26243

FDIC

Q3 2006

$508.3MAssets
$511.7MLoans
$355.3MDeposits
$119.8MEquity
Deposit mix
100%Interest-bearing $353.6M0%Noninterest $1.7MQ3 2005Q3 2006

NIM

15.00%Q3 ’0416.24%Q3 ’0518.66%Q3 ’06-1%+6%

Non-interest income vs. expense

2.69%Q3 ’042.80%Q3 ’053.22%Q3 ’06-1%+9%

Executive Summary

  • Earnings: ROA of 7.61%, up 45 bps year over year; NIM at 14.75%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 5.73%.
  • Funding: loans stand at 144.00% of deposits as of Q3 2006.

Financial Results

Return on Assets (quarter, annualized)

7.61%+45 bps YoY

Net Interest Margin (quarter, annualized)

14.75%+85 bps YoY

Efficiency Ratio (quarter, annualized)

15.58%+132 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets7.17%4.72%6.90%7.18%7.61%+45 bps
Return on Equity28.17%21.96%39.86%36.33%34.41%+624 bps
Net Interest Margin13.91%13.19%13.43%13.15%14.75%+85 bps
Efficiency Ratio14.27%15.65%14.88%14.43%15.58%+132 bps
Non-Interest Burden-2.95%-2.86%-2.79%-3.40%-2.67%+28 bps
Growth
Asset Growth (YoY)15.63%13.22%6.92%-13.77%-14.37%-3,000 bps
Loan Growth (YoY)14.27%11.41%12.09%-13.85%-14.13%-2,840 bps
Deposit Growth (YoY)2.76%5.77%12.76%23.44%17.02%+1,426 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans5.49%8.53%5.36%5.17%5.73%+24 bps
Allowance / Loans7.83%8.19%8.67%8.77%9.12%+129 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 Capital28.52%17.52%20.41%22.41%25.20%-332 bps
Equity / Assets26.78%15.94%18.76%20.76%23.56%-322 bps
Liquidity & Funding
Loans / Deposits196.24%173.25%143.13%143.42%144.00%-5,224 bps
Liquid Assets / Assets3.91%3.94%3.95%3.94%0.00%-391 bps
CRE / Total Capitaln/an/an/an/an/an/an/a