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Letter portraitLegal landscapeQuarterYTD

Commerce Bank, National Association

Omaha, NE · Cert 26427

FDIC

Q3 2008

$8.9MAssets
$7.0MLoans
$528KDeposits
$4.4MEquity
Deposit mix
95%Interest-bearing $500K5%Noninterest $28KQ3 2007Q3 2008

NIM

4.78%Q3 ’064.35%Q3 ’073.02%Q3 ’08-78%+1001%

Non-interest income vs. expense

35.70%Q3 ’0630.04%Q3 ’0723.47%Q3 ’08-21%+74%

Executive Summary

  • Earnings: ROA of 3.53%, down 700 bps year over year; NIM at 1.27%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.70%.
  • Funding: loans stand at 1329.73% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

3.53%-700 bps YoY

Net Interest Margin (quarter, annualized)

1.27%+116 bps YoY

Efficiency Ratio (quarter, annualized)

88.91%+689 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets10.53%9.52%0.77%4.74%3.53%-700 bps
Return on Equity18.90%19.07%1.71%10.01%7.23%-1,166 bps
Net Interest Margin0.12%-0.39%0.87%1.28%1.27%+116 bps
Efficiency Ratio82.03%80.43%91.55%86.58%88.91%+689 bps
Non-Interest Burden-6.46%-5.44%-1.40%-2.54%-1.65%+481 bps
Growth
Asset Growth (YoY)-1.44%17.42%17.18%15.99%16.48%+1,792 bps
Loan Growth (YoY)-0.08%-0.74%-1.23%-3.62%-3.81%-373 bps
Deposit Growth (YoY)2.91%3.72%5.56%-1.68%-0.56%-347 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.52%5.53%3.09%3.70%+359 bps
Allowance / Loans8.17%7.80%8.32%8.38%8.49%+32 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 Capital60.57%44.66%60.44%62.51%64.48%+391 bps
Equity / Assets57.44%43.92%46.74%48.06%49.42%-802 bps
Liquidity & Funding
Loans / Deposits1375%1442%1347%1348%1330%-4,484 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a