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Mesa National Bank

Grand Junction, CO · Cert 32770

FDIC

Q4 2003

$320.4MAssets
$259.5MLoans
$259.5MDeposits
$29.5MEquity
Loan mix
71%RE $32.6M28%C&I $12.9M1%Consumer $0.5MQ4 2002Q4 2003
Deposit mix
77%Interest-bearing $200.7M23%Noninterest $58.9MQ4 2002Q4 2003

NIM

7.05%Q4 ’015.83%Q4 ’025.70%Q4 ’03+0%+5%

Non-interest income vs. expense

3.73%Q4 ’013.72%Q4 ’023.87%Q4 ’03+6%+5%

Executive Summary

  • Earnings: ROA of 2.04%, up 64 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 0.08%.
  • Funding: loans stand at 99.97% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

2.04%+64 bps YoY

Net Interest Margin (YTD, annualized)

4.74%+24 bps YoY

Efficiency Ratio (YTD, annualized)

63.08%-38 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets1.40%1.74%1.75%1.89%2.04%+64 bps
Return on Equity16.80%19.63%19.60%20.88%22.46%+566 bps
Net Interest Margin4.50%4.68%4.60%4.64%4.74%+24 bps
Efficiency Ratio63.46%67.88%67.04%65.25%63.08%-38 bps
Non-Interest Burden2.36%2.72%2.60%2.53%2.47%+11 bps
Growth
Asset Growth (YoY)15.54%16.97%19.72%11.06%2.70%-1,284 bps
Loan Growth (YoY)12.00%16.09%19.42%20.41%14.57%+257 bps
Deposit Growth (YoY)13.18%10.85%7.06%6.75%1.90%-1,127 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.00%0.05%0.07%0.08%+1 bps
Allowance / Loans1.71%1.73%1.67%1.68%1.72%+2 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 Capital11.43%11.79%11.72%12.06%12.08%+66 bps
Equity / Assets8.85%8.92%8.99%9.45%9.20%+35 bps
Liquidity & Funding
Loans / Deposits88.92%91.72%101.65%101.01%99.97%+1,105 bps
Liquid Assets / Assets0.02%0.02%0.01%0.03%0.01%-1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a