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First Republic Bank

Las Vegas, NV · Cert 26665

FDIC

Q2 2007

$12.9BAssets
$9.3BLoans
$10.0BDeposits
$795.9MEquity
Loan mix
88%RE $6.7B12%C&I $0.9B0%Consumer $0.0BQ2 2006Q2 2007
Deposit mix
85%Interest-bearing $8.4B15%Noninterest $1.5BQ2 2006Q2 2007

NIM

5.05%Q2 ’055.84%Q2 ’066.04%Q2 ’07-6%-5%

Non-interest income vs. expense

2.83%Q2 ’052.74%Q2 ’063.01%Q2 ’07+1%+17%

Executive Summary

  • Earnings: ROA of 0.59%, down 10 bps year over year; NIM at 2.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 93.50% of deposits as of Q2 2007.

Financial Results

Return on Assets (quarter, annualized)

0.59%-10 bps YoY

Net Interest Margin (quarter, annualized)

2.83%-16 bps YoY

Efficiency Ratio (quarter, annualized)

86.25%+1,216 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets0.69%0.66%0.62%0.10%0.59%-10 bps
Return on Equity11.31%11.12%9.72%1.52%9.16%-215 bps
Net Interest Margin2.99%2.74%2.81%2.85%2.83%-16 bps
Efficiency Ratio74.09%77.33%76.48%76.48%86.25%+1,216 bps
Non-Interest Burden2.03%1.94%1.96%2.56%2.37%+34 bps
Growth
Asset Growth (YoY)22.78%20.85%25.08%22.03%24.18%+140 bps
Loan Growth (YoY)17.29%15.22%17.85%19.37%22.11%+482 bps
Deposit Growth (YoY)22.45%20.91%27.40%17.33%30.48%+802 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%-0.03%0.00%0.01%0.01%+1 bps
Allowance / Loans0.57%0.57%0.62%0.61%0.56%-1 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 Capital11.61%11.21%11.17%11.26%10.41%-121 bps
Equity / Assets5.95%5.92%6.75%6.68%6.17%+22 bps
Liquidity & Funding
Loans / Deposits99.91%99.12%92.61%88.99%93.50%-641 bps
Liquid Assets / Assets5.86%6.09%6.07%6.23%5.71%-15 bps
CRE / Total Capitaln/an/an/an/an/an/an/a