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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

5.46%Q4 ’055.84%Q4 ’066.07%Q4 ’07-13%+6%

Non-interest income vs. expense

2.14%Q4 ’052.02%Q4 ’062.03%Q4 ’07-10%0%

Executive Summary

  • Earnings: ROA of 1.34%, down 3 bps year over year; NIM at 3.31%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 82.72% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

1.34%-3 bps YoY

Net Interest Margin (quarter, annualized)

3.31%+19 bps YoY

Efficiency Ratio (quarter, annualized)

48.47%-221 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets1.38%1.28%1.18%1.36%1.34%-3 bps
Return on Equity22.36%21.50%20.80%22.95%21.54%-82 bps
Net Interest Margin3.12%3.09%3.01%3.17%3.31%+19 bps
Efficiency Ratio50.68%51.35%53.43%49.57%48.47%-221 bps
Non-Interest Burden1.15%1.20%1.24%1.13%1.15%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%0.06%0.03%0.04%+2 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