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Bank of Salem

Salem, OR · Cert 33313

FDIC

Q3 2007

$210.8MAssets
$198.5MLoans
$172.3MDeposits
$28.7MEquity
Deposit mix
96%Interest-bearing $165.4M4%Noninterest $6.9MQ3 2006Q3 2007

NIM

8.29%Q3 ’059.00%Q3 ’068.78%Q3 ’07-10%-11%

Non-interest income vs. expense

1.44%Q3 ’051.20%Q3 ’061.28%Q3 ’07-14%+3%

Executive Summary

  • Earnings: ROA of 2.22%, down 13 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 0.00%.
  • Funding: loans stand at 115.23% of deposits as of Q3 2007.

Financial Results

Return on Assets (quarter, annualized)

2.22%-13 bps YoY

Net Interest Margin (quarter, annualized)

4.74%-58 bps YoY

Efficiency Ratio (quarter, annualized)

26.47%+412 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets2.35%2.63%2.50%2.29%2.22%-13 bps
Return on Equity19.38%21.63%20.28%17.94%16.63%-275 bps
Net Interest Margin5.32%5.19%5.12%4.87%4.74%-58 bps
Efficiency Ratio22.35%22.79%22.01%24.36%26.47%+412 bps
Non-Interest Burden1.14%1.00%1.03%1.10%1.17%+3 bps
Growth
Asset Growth (YoY)17.36%18.92%19.73%9.69%4.91%-1,245 bps
Loan Growth (YoY)27.58%22.04%18.59%12.00%6.93%-2,064 bps
Deposit Growth (YoY)16.50%18.72%22.61%10.42%0.24%-1,626 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 / Loans1.55%1.60%1.60%1.56%1.55%0 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 Capital13.61%13.67%14.18%14.50%15.00%+139 bps
Equity / Assets12.14%12.17%12.45%13.08%13.61%+147 bps
Liquidity & Funding
Loans / Deposits108.01%104.99%104.30%110.11%115.23%+722 bps
Liquid Assets / Assets0.63%1.50%1.94%0.00%0.00%-63 bps
CRE / Total Capitaln/an/an/an/an/an/an/a