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Grand Bank

Grand Rapids, MI · Cert 27035

FDIC

Q4 2002

$323.7MAssets
$268.8MLoans
$248.6MDeposits
$47.2MEquity
Loan mix
26%RE $42.9M69%C&I $113.5M5%Consumer $8.5MQ4 2001Q4 2002
Deposit mix
91%Interest-bearing $226.4M9%Noninterest $22.2MQ4 2001Q4 2002

NIM

8.04%Q1 ’016.56%Q4 ’013.57%Q4 ’02-11%-36%

Non-interest income vs. expense

3.07%Q1 ’012.86%Q4 ’011.54%Q4 ’02-7%-53%

Executive Summary

  • Earnings: ROA of 0.89%, down 22 bps year over year; NIM at 2.04%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.06%.
  • Funding: loans stand at 108.12% of deposits as of Q4 2002.

Financial Results

Return on Assets (YTD, annualized)

0.89%-22 bps YoY

Net Interest Margin (YTD, annualized)

2.04%-113 bps YoY

Efficiency Ratio (YTD, annualized)

49.57%-1,409 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets1.10%-2.24%0.53%0.74%0.89%-22 bps
Return on Equityn/a-33.83%5.52%6.73%7.52%n/a
Net Interest Margin3.16%2.70%1.26%1.79%2.04%-113 bps
Efficiency Ratio63.66%161.43%50.13%50.51%49.57%-1,409 bps
Non-Interest Burden1.53%4.94%0.48%0.68%0.71%-82 bps
Growth
Asset Growth (YoY)17.71%27.51%36.64%24.42%23.12%+540 bps
Loan Growth (YoY)29.38%29.79%26.96%20.50%16.28%-1,310 bps
Deposit Growth (YoY)14.74%27.13%24.05%9.57%11.91%-282 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.02%0.00%0.00%0.00%0.06%+8 bps
Allowance / Loans1.24%1.40%1.39%1.35%1.33%+8 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 Capital10.43%10.55%10.52%10.67%10.69%+26 bps
Equity / Assets6.55%6.69%14.84%15.04%14.57%+802 bps
Liquidity & Funding
Loans / Deposits104.05%101.40%106.32%114.01%108.12%+406 bps
Liquid Assets / Assets2.10%2.45%1.57%1.25%1.12%-99 bps
CRE / Total Capitaln/an/an/an/an/an/an/a