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Redmond National Bank

Redmond, WA · Cert 27372

FDIC

Q2 2005

$117.5MAssets
$110.5MLoans
$92.2MDeposits
$13.9MEquity
Loan mix
65%RE $20.1M35%C&I $10.9M1%Consumer $0.2MQ2 2004Q2 2005
Deposit mix
84%Interest-bearing $77.6M16%Noninterest $14.6MQ2 2004Q2 2005

NIM

7.72%Q2 ’037.29%Q2 ’046.73%Q2 ’05-5%-16%

Non-interest income vs. expense

3.66%Q2 ’033.29%Q2 ’042.32%Q2 ’05-11%-30%

Executive Summary

  • Earnings: ROA of 1.64%, up 19 bps year over year; NIM at 4.74%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.25%.
  • Funding: loans stand at 119.81% of deposits as of Q2 2005.

Financial Results

Return on Assets (quarter, annualized)

1.64%+19 bps YoY

Net Interest Margin (quarter, annualized)

4.74%-88 bps YoY

Efficiency Ratio (quarter, annualized)

47.27%-899 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2004Q3 2004Q4 2004Q1 2005Q2 2005YoY ΔTrend
Earnings
Return on Assets1.45%1.41%0.41%1.10%1.64%+19 bps
Return on Equity11.47%10.61%3.09%8.75%13.59%+212 bps
Net Interest Margin5.62%5.62%3.66%4.67%4.74%-88 bps
Efficiency Ratio56.26%57.82%67.33%48.02%47.27%-899 bps
Non-Interest Burden3.06%3.14%2.39%2.15%2.15%-91 bps
Growth
Asset Growth (YoY)15.87%12.09%8.04%10.15%18.05%+218 bps
Loan Growth (YoY)17.00%13.69%5.31%9.95%22.23%+522 bps
Deposit Growth (YoY)20.91%14.54%19.14%3.99%8.39%-1,252 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.37%1.87%0.59%1.25%+123 bps
Allowance / Loans1.62%1.57%1.27%1.26%0.94%-67 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 Capital14.51%14.69%14.20%13.31%12.60%-191 bps
Equity / Assets13.11%13.43%12.86%12.23%11.87%-125 bps
Liquidity & Funding
Loans / Deposits106.25%113.14%106.80%115.61%119.81%+1,356 bps
Liquid Assets / Assets2.84%1.03%3.12%0.90%0.85%-199 bps
CRE / Total Capitaln/an/an/an/an/an/an/a