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Chemical Bank West

Cadillac, MI · Cert 26489

FDIC

Q4 2005

$914.3MAssets
$729.9MLoans
$675.0MDeposits
$132.4MEquity
Loan mix
77%RE $347.9M23%C&I $101.7M0%Consumer $1.1MQ4 2004Q4 2005
Deposit mix
87%Interest-bearing $586.3M13%Noninterest $88.7MQ4 2004Q4 2005

NIM

5.63%Q4 ’034.69%Q4 ’045.29%Q4 ’05-11%+7%

Non-interest income vs. expense

2.76%Q4 ’032.40%Q4 ’042.53%Q4 ’05-9%+3%

Executive Summary

  • Earnings: ROA of 1.32%, up 5 bps year over year; NIM at 3.81%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Funding: loans stand at 108.14% of deposits as of Q4 2005.

Financial Results

Return on Assets (YTD, annualized)

1.32%+5 bps YoY

Net Interest Margin (YTD, annualized)

3.81%+24 bps YoY

Efficiency Ratio (YTD, annualized)

52.05%-164 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.27%1.30%1.31%1.31%1.32%+5 bps
Return on Equity10.09%9.06%9.05%9.03%9.10%-99 bps
Net Interest Margin3.56%3.90%3.91%3.77%3.81%+24 bps
Efficiency Ratio53.69%52.91%52.56%52.64%52.05%-164 bps
Non-Interest Burden1.61%1.74%1.74%1.67%1.66%+5 bps
Growth
Asset Growth (YoY)23.34%14.22%-1.56%-0.70%2.90%-2,044 bps
Loan Growth (YoY)18.53%16.79%5.16%6.64%7.59%-1,094 bps
Deposit Growth (YoY)15.66%12.40%-3.61%-2.97%2.59%-1,307 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.17%0.08%0.09%0.10%0.11%-6 bps
Allowance / Loans1.26%1.28%1.26%1.24%1.23%-3 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 Capital13.94%14.29%14.29%14.33%14.57%+63 bps
Equity / Assets14.26%14.52%14.60%14.50%14.48%+22 bps
Liquidity & Funding
Loans / Deposits103.12%104.92%107.54%109.31%108.14%+502 bps
Liquid Assets / Assets2.00%2.37%1.92%2.00%1.68%-32 bps
CRE / Total Capitaln/an/an/an/an/an/an/a