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Monogram Credit Card Bank

Atlanta, GA · Cert 27276

FDIC

Q4 2004

$4.8BAssets
$3.8BLoans
$744.2MDeposits
$1.0BEquity
Deposit mix
95%Interest-bearing $707.9M5%Noninterest $36.3MQ4 2003Q4 2004

NIM

15.82%Q4 ’0222.02%Q4 ’038.44%Q4 ’04+44%-63%

Non-interest income vs. expense

9.44%Q4 ’029.50%Q4 ’0317.50%Q4 ’04-136%+11%

Executive Summary

  • Earnings: ROA of 10.43%, down 1,506 bps year over year; NIM at 7.75%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 8.03%.
  • Funding: loans stand at 509.79% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

10.43%-1,506 bps YoY

Net Interest Margin (quarter, annualized)

7.75%-1,327 bps YoY

Efficiency Ratio (quarter, annualized)

37.25%+2,039 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets25.49%14.46%19.53%12.99%10.43%-1,506 bps
Return on Equity98.04%51.47%58.84%59.09%47.10%-5,094 bps
Net Interest Margin21.03%20.55%19.18%12.69%7.75%-1,327 bps
Efficiency Ratio16.86%32.17%28.05%40.28%37.25%+2,039 bps
Non-Interest Burden-22.60%-13.98%-15.07%-15.03%-20.13%+248 bps
Growth
Asset Growth (YoY)83.84%23.52%-61.20%-5.39%-4.94%-8,879 bps
Loan Growth (YoY)131.73%65.77%-66.96%-25.24%5.20%-12,653 bps
Deposit Growth (YoY)351%2.35%-3.18%21.04%-75.96%-42,673 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans6.80%9.14%7.30%6.31%8.03%+123 bps
Allowance / Loans3.89%3.87%3.68%3.55%3.80%-9 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 Capital15.55%45.47%22.57%25.07%24.66%+911 bps
Equity / Assets15.79%45.35%21.50%22.42%21.91%+612 bps
Liquidity & Funding
Loans / Deposits116.49%594%456%462%510%+39,330 bps
Liquid Assets / Assets0.00%0.01%0.01%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a