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Portage Commerce Bank

Portage, MI · Cert 27236

FDIC

Q4 2008

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2008, the quarter ended December 31, 2008, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Portage Commerce Bank

Portage, MI · Cert 27236

FDIC

Q4 2008

$217.7MAssets
$194.3MLoans
$189.9MDeposits
$18.0MEquity
Loan mix
76%RE $127.2M24%C&I $40.7M0%Consumer $0.1MQ4 2007Q4 2008
Deposit mix
92%Interest-bearing $174.6M8%Noninterest $15.3MQ4 2007Q4 2008

NIM

7.89%Q4 ’067.50%Q4 ’076.13%Q4 ’08-15%-17%

Non-interest income vs. expense

2.75%Q4 ’062.53%Q4 ’071.76%Q4 ’08-10%-36%

Executive Summary

  • Earnings: ROA of 1.13%, down 8 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 0.22%.
  • Funding: loans stand at 102.36% of deposits as of Q4 2008.

Financial Results

Return on Assets (YTD, annualized)

1.13%-8 bps YoY

Net Interest Margin (YTD, annualized)

3.31%-66 bps YoY

Efficiency Ratio (YTD, annualized)

46.72%-1,017 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.21%1.10%1.09%1.15%1.13%-8 bps
Return on Equity13.80%13.11%13.03%13.85%13.64%-16 bps
Net Interest Margin3.97%3.74%3.49%3.37%3.31%-66 bps
Efficiency Ratio56.89%47.96%46.00%45.77%46.72%-1,017 bps
Non-Interest Burden2.05%1.53%1.36%1.27%1.31%-74 bps
Growth
Asset Growth (YoY)5.86%10.77%13.40%16.11%14.60%+874 bps
Loan Growth (YoY)7.31%11.40%9.31%6.99%8.44%+113 bps
Deposit Growth (YoY)6.89%5.55%14.65%14.81%14.85%+796 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.13%0.10%0.26%0.25%0.22%+9 bps
Allowance / Loans1.01%1.04%1.11%1.13%1.14%+13 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 Capital10.10%9.49%10.24%10.10%10.27%+17 bps
Equity / Assets8.67%8.14%8.38%8.06%8.25%-41 bps
Liquidity & Funding
Loans / Deposits108.41%115.15%105.01%100.51%102.36%-605 bps
Liquid Assets / Assets0.05%0.05%0.05%0.03%6.19%+613 bps
CRE / Total Capitaln/an/an/an/an/an/an/a