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Evertrust Bank

Everett, WA · Cert 27070

FDIC

Q3 2004

$760.7MAssets
$669.2MLoans
$567.9MDeposits
$75.8MEquity
Loan mix
89%RE $210.8M10%C&I $23.2M1%Consumer $1.8MQ3 2003Q3 2004
Deposit mix
96%Interest-bearing $543.2M4%Noninterest $24.7MQ3 2003Q3 2004

NIM

7.03%Q3 ’026.30%Q3 ’035.91%Q3 ’04-5%0%

Non-interest income vs. expense

2.68%Q3 ’022.54%Q3 ’032.31%Q3 ’04-13%-14%

Executive Summary

  • Earnings: ROA of 1.39%, up 9 bps year over year; NIM at 3.84%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 117.85% of deposits as of Q3 2004.

Financial Results

Return on Assets (YTD, annualized)

1.39%+9 bps YoY

Net Interest Margin (YTD, annualized)

3.84%-1 bps YoY

Efficiency Ratio (YTD, annualized)

51.41%-543 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets1.30%1.24%1.35%1.37%1.39%+9 bps
Return on Equity12.86%12.34%14.01%14.28%14.35%+148 bps
Net Interest Margin3.84%3.74%3.84%3.80%3.84%-1 bps
Efficiency Ratio56.84%57.02%51.76%52.13%51.41%-543 bps
Non-Interest Burden1.91%1.85%1.71%1.65%1.65%-26 bps
Growth
Asset Growth (YoY)7.41%5.98%9.17%6.98%3.98%-343 bps
Loan Growth (YoY)-0.17%3.83%9.24%10.79%16.46%+1,664 bps
Deposit Growth (YoY)12.81%11.16%7.51%6.38%4.53%-828 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.08%0.02%0.01%0.02%-8 bps
Allowance / Loans1.52%1.40%1.36%1.38%1.36%-16 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 Capital12.94%12.22%11.50%11.75%12.11%-83 bps
Equity / Assets9.76%9.90%9.32%9.56%9.97%+21 bps
Liquidity & Funding
Loans / Deposits105.77%114.48%121.76%119.57%117.85%+1,208 bps
Liquid Assets / Assets10.42%0.66%0.43%0.37%0.29%-1,013 bps
CRE / Total Capitaln/an/an/an/an/an/an/a