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Firstbank of Breckenridge

Breckenridge, CO · Cert 26525

FDIC

Q4 2007

$157.3MAssets
$105.2MLoans
$127.2MDeposits
$9.9MEquity
Loan mix
99%RE $91.5M1%C&I $1.0M0%Consumer $0.3MQ4 2006Q4 2007
Deposit mix
73%Interest-bearing $93.2M27%Noninterest $34.0MQ4 2006Q4 2007

NIM

5.13%Q4 ’055.51%Q4 ’065.85%Q4 ’07-18%+2%

Non-interest income vs. expense

2.13%Q4 ’051.99%Q4 ’061.97%Q4 ’07-4%0%

Executive Summary

  • Earnings: ROA of 1.30%, down 7 bps year over year; NIM at 3.08%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 82.72% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

1.30%-7 bps YoY

Net Interest Margin (YTD, annualized)

3.08%+5 bps YoY

Efficiency Ratio (YTD, annualized)

50.63%-102 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets1.37%1.28%1.24%1.29%1.30%-7 bps
Return on Equity22.20%21.50%21.17%21.67%21.59%-61 bps
Net Interest Margin3.03%3.09%2.99%3.07%3.08%+5 bps
Efficiency Ratio51.64%51.35%52.40%51.42%50.63%-102 bps
Non-Interest Burden1.16%1.20%1.19%1.18%1.16%0 bps
Growth
Asset Growth (YoY)11.55%12.05%11.03%7.05%12.70%+115 bps
Loan Growth (YoY)15.54%18.78%18.35%19.83%24.20%+866 bps
Deposit Growth (YoY)12.99%12.85%11.04%7.60%5.93%-706 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.01%0.04%0.03%0.03%+1 bps
Allowance / Loans0.94%0.91%0.91%0.92%0.95%+2 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 Capital11.58%10.95%10.78%11.34%11.54%-4 bps
Equity / Assets6.16%5.77%5.63%6.21%6.27%+11 bps
Liquidity & Funding
Loans / Deposits70.55%75.64%81.75%80.21%82.72%+1,217 bps
Liquid Assets / Assets17.96%16.63%16.26%16.82%16.52%-144 bps
CRE / Total Capitaln/an/an/an/an/an/an/a