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Letter portraitLegal landscapeQuarterYTD

U.S. Trust Company, National Association

Los Angeles, CA · Cert 33332

FDIC

Q4 2005

$3.9BAssets
$888.8MLoans
$2.5BDeposits
$777.6MEquity
Loan mix
32%RE $153.8M12%C&I $55.9M56%Consumer $270.6MQ4 2004Q4 2005
Deposit mix
93%Interest-bearing $2.3B7%Noninterest $0.2BQ4 2004Q4 2005

NIM

2.71%Q4 ’032.63%Q4 ’043.47%Q4 ’05-14%+14%

Non-interest income vs. expense

10.88%Q4 ’039.73%Q4 ’048.56%Q4 ’05+110%-1009%

Executive Summary

  • Earnings: ROA of 2.00%, up 78 bps year over year; NIM at 2.14%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.12%.
  • Funding: loans stand at 35.90% of deposits as of Q4 2005.

Financial Results

Return on Assets (YTD, annualized)

2.00%+78 bps YoY

Net Interest Margin (YTD, annualized)

2.14%+26 bps YoY

Efficiency Ratio (YTD, annualized)

71.82%-1,101 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.22%2.18%2.20%2.29%2.00%+78 bps
Return on Equity4.62%9.11%9.47%10.04%9.00%+437 bps
Net Interest Margin1.88%2.36%2.17%2.15%2.14%+26 bps
Efficiency Ratio82.84%70.24%70.63%68.86%71.82%-1,101 bps
Non-Interest Burden0.11%-1.28%-1.08%-1.31%-0.96%-107 bps
Growth
Asset Growth (YoY)33.91%11.09%15.54%14.47%22.57%-1,134 bps
Loan Growth (YoY)53.82%58.49%19.12%17.75%5.48%-4,834 bps
Deposit Growth (YoY)32.72%10.96%23.50%26.86%39.45%+673 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.25%0.16%0.12%+12 bps
Allowance / Loans0.38%0.39%0.42%0.43%0.45%+7 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 Capital24.75%24.79%23.14%22.33%22.78%-197 bps
Equity / Assets24.31%23.61%21.96%21.70%20.04%-427 bps
Liquidity & Funding
Loans / Deposits47.46%44.73%40.86%41.39%35.90%-1,156 bps
Liquid Assets / Assets0.00%0.01%0.01%0.01%0.01%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a