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Firstbank of Denver

Denver, CO · Cert 27225

FDIC

Q3 2010

$421.3MAssets
$283.4MLoans
$373.8MDeposits
$42.8MEquity
Loan mix
95%RE $188.3M5%C&I $9.4M0%Consumer $0.8MQ3 2009Q3 2010
Deposit mix
80%Interest-bearing $297.7M20%Noninterest $76.1MQ3 2009Q3 2010

NIM

6.02%Q3 ’085.79%Q3 ’095.16%Q3 ’10+14%-6%

Non-interest income vs. expense

2.26%Q3 ’082.74%Q3 ’092.99%Q3 ’10+46%+11%

Executive Summary

  • Earnings: ROA of 1.64%, down 40 bps year over year; NIM at 4.68%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.02%.
  • Funding: loans stand at 75.81% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

1.64%-40 bps YoY

Net Interest Margin (quarter, annualized)

4.68%-28 bps YoY

Efficiency Ratio (quarter, annualized)

52.62%+627 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets2.04%1.16%0.35%1.53%1.64%-40 bps
Return on Equity21.15%12.07%3.76%16.42%16.76%-440 bps
Net Interest Margin4.96%4.88%4.84%4.70%4.68%-28 bps
Efficiency Ratio46.35%46.56%47.09%48.41%52.62%+627 bps
Non-Interest Burden1.79%1.59%1.72%1.84%1.99%+20 bps
Growth
Asset Growth (YoY)-11.15%-4.86%3.75%8.35%5.64%+1,679 bps
Loan Growth (YoY)-8.66%-5.62%0.89%3.87%3.07%+1,174 bps
Deposit Growth (YoY)-2.76%2.17%4.77%7.52%4.41%+717 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.35%1.12%0.23%0.35%2.02%+167 bps
Allowance / Loans1.90%2.22%2.20%2.31%1.90%0 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 Capital15.78%14.91%15.17%15.56%16.01%+23 bps
Equity / Assets9.85%9.43%9.18%9.47%10.15%+30 bps
Liquidity & Funding
Loans / Deposits76.80%74.76%72.49%74.13%75.81%-99 bps
Liquid Assets / Assets14.98%14.31%10.95%14.66%15.85%+87 bps
CRE / Total Capitaln/an/an/an/an/an/an/a