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Pacific Northwest Bank

Seattle, WA · Cert 30887

FDIC

Q1 2004

$2.8BAssets
$1.8BLoans
$1.7BDeposits
$775.9MEquity
Loan mix
57%RE $418.9M39%C&I $289.2M4%Consumer $26.9MQ1 2003Q1 2004
Deposit mix
94%Interest-bearing $1.6B6%Noninterest $0.1BQ1 2003Q1 2004

NIM

6.66%Q1 ’025.60%Q1 ’034.40%Q1 ’04-12%+0%

Non-interest income vs. expense

2.69%Q1 ’022.39%Q1 ’032.33%Q1 ’04-16%+4%

Executive Summary

  • Earnings: ROA of 1.25%, up 4 bps year over year; NIM at 3.71%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.18%.
  • Funding: loans stand at 106.66% of deposits as of Q1 2004.

Financial Results

Return on Assets (YTD, annualized)

1.25%+4 bps YoY

Net Interest Margin (YTD, annualized)

3.71%0 bps YoY

Efficiency Ratio (YTD, annualized)

52.03%-165 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets1.21%1.19%1.09%0.27%1.25%+4 bps
Return on Equity12.51%12.10%10.77%2.05%4.65%-785 bps
Net Interest Margin3.71%3.57%3.60%0.63%3.71%0 bps
Efficiency Ratio53.68%54.64%57.14%42.75%52.03%-165 bps
Non-Interest Burden1.71%1.68%1.79%0.24%1.79%+8 bps
Growth
Asset Growth (YoY)14.14%8.11%1.70%-4.90%-9.90%-2,404 bps
Loan Growth (YoY)10.49%10.75%9.25%-7.46%-11.31%-2,180 bps
Deposit Growth (YoY)22.43%11.28%4.76%-12.90%-18.05%-4,047 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.22%0.19%0.17%0.00%-0.18%-40 bps
Allowance / Loans1.32%1.33%1.40%1.81%1.89%+57 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 Capital11.09%11.23%11.68%12.58%13.64%+255 bps
Equity / Assets9.82%10.05%11.05%25.93%27.80%+1,798 bps
Liquidity & Funding
Loans / Deposits98.55%100.30%104.50%105.93%106.66%+810 bps
Liquid Assets / Assets0.35%0.27%0.10%0.07%0.06%-29 bps
CRE / Total Capitaln/an/an/an/an/an/an/a