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U.S. Trust Company of Texas, National Association

Dallas, TX · Cert 33217

FDIC

Q3 2003

$218.3MAssets
$75.2MLoans
$169.9MDeposits
$45.8MEquity
Deposit mix
93%Interest-bearing $157.2M7%Noninterest $12.7MQ3 2002Q3 2003

NIM

5.54%Q3 ’014.25%Q3 ’023.86%Q3 ’03+18%+4%

Non-interest income vs. expense

5.64%Q3 ’016.46%Q3 ’025.55%Q3 ’03+34%-62%

Executive Summary

  • Earnings: ROA of 3.04%, down 8 bps year over year; NIM at 3.29%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 44.25% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

3.04%-8 bps YoY

Net Interest Margin (YTD, annualized)

3.29%+13 bps YoY

Efficiency Ratio (YTD, annualized)

54.93%-718 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets3.12%2.85%2.25%2.81%3.04%-8 bps
Return on Equity18.12%16.06%12.34%14.73%15.53%-259 bps
Net Interest Margin3.16%2.95%2.36%3.09%3.29%+13 bps
Efficiency Ratio62.11%62.61%59.27%55.03%54.93%-718 bps
Non-Interest Burden-0.78%-0.79%-1.24%-1.30%-1.26%-48 bps
Growth
Asset Growth (YoY)-2.25%-9.21%16.42%3.54%2.92%+517 bps
Loan Growth (YoY)5.53%18.23%24.79%17.68%32.23%+2,670 bps
Deposit Growth (YoY)-2.81%-11.60%-1.91%1.25%0.77%+359 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.77%0.75%0.79%0.76%0.67%-11 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 Capital41.89%44.26%45.75%51.07%46.64%+475 bps
Equity / Assets18.91%19.85%16.95%20.87%20.96%+205 bps
Liquidity & Funding
Loans / Deposits33.72%40.62%37.77%38.95%44.25%+1,053 bps
Liquid Assets / Assets3.16%4.49%7.66%3.57%2.78%-38 bps
CRE / Total Capitaln/an/an/an/an/an/an/a