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Fremont National Bank of Canon City

Canon City, CO · Cert 3000

FDIC

Q2 2006

$153.6MAssets
$78.6MLoans
$119.9MDeposits
$31.2MEquity
Loan mix
83%RE $25.9M17%C&I $5.3M0%Consumer $0.1MQ2 2005Q2 2006
Deposit mix
85%Interest-bearing $101.3M15%Noninterest $18.6MQ2 2005Q2 2006

NIM

5.77%Q2 ’046.07%Q2 ’05-3.86%Q2 ’06+7%-161%

Non-interest income vs. expense

3.21%Q2 ’043.12%Q2 ’05-2.22%Q2 ’060%-174%

Executive Summary

  • Earnings: ROA of -1.31%, down 320 bps year over year; NIM at -2.86%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.03%.
  • Funding: loans stand at 65.56% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

-1.31%-320 bps YoY

Net Interest Margin (quarter, annualized)

-2.86%-753 bps YoY

Efficiency Ratio (quarter, annualized)

57.76%-241 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets1.89%2.37%1.47%1.59%-1.31%-320 bps
Return on Equity17.23%22.27%14.33%15.80%-8.67%-2,589 bps
Net Interest Margin4.68%4.86%4.72%4.59%-2.86%-753 bps
Efficiency Ratio60.17%57.75%71.49%66.89%57.76%-241 bps
Non-Interest Burden2.61%2.50%3.24%2.92%-1.93%-454 bps
Growth
Asset Growth (YoY)6.41%6.23%7.07%15.61%11.96%+554 bps
Loan Growth (YoY)9.19%17.24%8.56%-2.98%-9.35%-1,854 bps
Deposit Growth (YoY)7.61%5.91%7.96%16.90%-1.57%-918 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.02%0.17%0.02%-0.03%-10 bps
Allowance / Loans1.73%1.63%1.70%1.78%2.44%+71 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 Capital17.59%16.04%17.22%17.95%20.19%+260 bps
Equity / Assets10.97%10.30%10.23%9.85%20.33%+936 bps
Liquidity & Funding
Loans / Deposits71.19%74.82%66.49%58.61%65.56%-562 bps
Liquid Assets / Assets6.13%5.84%5.71%5.12%2.42%-371 bps
CRE / Total Capitaln/an/an/an/an/an/an/a