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Letter portraitLegal landscapeQuarterYTD

Wells Fargo Bank Nevada, National Association

Las Vegas, NV · Cert 27930

FDIC

Q4 2003

$9.9BAssets
$8.1BLoans
$6.3BDeposits
$932.9MEquity
Loan mix
12%RE $0.7B1%C&I $0.0B88%Consumer $5.5BQ4 2002Q4 2003
Deposit mix
73%Interest-bearing $4.7B27%Noninterest $1.7BQ4 2002Q4 2003

NIM

7.99%Q4 ’019.40%Q4 ’026.92%Q4 ’03+24%-28%

Non-interest income vs. expense

6.58%Q4 ’015.23%Q4 ’028.15%Q4 ’03+37%-8%

Executive Summary

  • Earnings: ROA of 3.90%, down 131 bps year over year; NIM at 6.15%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.60%.
  • Funding: loans stand at 127.65% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

3.90%-131 bps YoY

Net Interest Margin (quarter, annualized)

6.15%-235 bps YoY

Efficiency Ratio (quarter, annualized)

45.12%+1,578 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets5.21%5.22%4.39%5.32%3.90%-131 bps
Return on Equity46.37%47.35%40.21%52.42%41.33%-503 bps
Net Interest Margin8.49%8.59%8.39%7.86%6.15%-235 bps
Efficiency Ratio29.34%28.10%42.45%38.95%45.12%+1,578 bps
Non-Interest Burden-2.78%-2.60%-2.30%-3.69%-3.01%-23 bps
Growth
Asset Growth (YoY)39.40%29.18%4.57%8.21%-0.20%-3,961 bps
Loan Growth (YoY)43.36%31.49%4.49%-5.68%-5.36%-4,872 bps
Deposit Growth (YoY)6.40%3.89%7.44%9.57%9.43%+304 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans3.48%3.74%4.14%3.95%3.60%+12 bps
Allowance / Loans4.42%4.37%n/an/an/an/a
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 Capital11.67%10.86%13.23%13.03%12.48%+81 bps
Equity / Assets11.12%10.94%n/an/an/an/a
Liquidity & Funding
Loans / Deposits147.60%157.24%141.58%125.71%127.65%-1,995 bps
Liquid Assets / Assets6.76%5.56%0.00%0.00%0.00%-676 bps
CRE / Total Capitaln/an/an/an/an/an/an/a