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First United Bank

San Diego, CA · Cert 33401

FDIC

Q4 2013

$486.4MAssets
$373.7MLoans
$407.1MDeposits
$67.2MEquity
Loan mix
81%RE $172.9M18%C&I $37.8M1%Consumer $2.6MQ1 2012Q4 2013
Deposit mix
90%Interest-bearing $367.6M10%Noninterest $39.5MQ1 2012Q4 2013

Executive Summary

  • Earnings: ROA of 1.60%, up 53 bps year over year; NIM at 3.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.84%.
  • Funding: loans stand at 91.80% of deposits as of Q4 2013.

Return on Assets (quarter, annualized)

1.60%+53 bps YoY

Net Interest Margin (quarter, annualized)

3.47%-12 bps YoY

Efficiency Ratio (quarter, annualized)

64.08%-779 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

4.07%Q4 ’114.11%Q4 ’124.01%Q4 ’13+8%-3%

Non-interest income vs. expense

5.81%Q4 ’112.68%Q4 ’122.37%Q4 ’13-49%-15%

Discrete quarter, annualized.

MetricQ1 2012Q2 2012Q3 2012Q4 2012Q1 2013Q2 2013Q3 2013Q4 2013YoY ΔTrend
Earnings
Return on Assets0.59%0.52%0.45%1.07%0.69%0.57%0.88%1.60%+53 bps
Return on Equity3.84%3.33%2.86%6.92%4.66%3.97%6.41%11.77%+485 bps
Net Interest Margin3.32%3.48%3.62%3.59%3.35%3.15%3.36%3.47%-12 bps
Efficiency Ratio70.01%79.91%78.47%71.87%65.29%70.99%63.25%64.08%-779 bps
Non-Interest Burden2.31%2.71%2.84%2.56%2.15%2.20%2.06%2.18%-38 bps
Growth
Asset Growth (YoY)-4.12%-0.86%1.81%4.95%11.22%16.19%23.44%17.33%+1,238 bps
Loan Growth (YoY)-1.40%4.32%6.60%11.41%13.25%13.64%15.53%11.49%+8 bps
Deposit Growth (YoY)4.30%2.32%3.19%5.13%10.95%15.27%26.44%16.09%+1,096 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.16%-0.16%-0.09%-0.58%0.46%0.06%0.00%-0.84%-26 bps
Allowance / Loans2.38%2.32%2.31%2.13%1.98%1.88%1.85%1.62%-51 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital16.80%16.41%16.49%16.34%16.09%15.73%15.67%16.07%-26 bps
Equity / Assets15.40%15.64%15.64%15.20%14.48%14.06%13.37%13.82%-138 bps
Liquidity & Funding
Loans / Deposits90.16%94.79%97.89%95.59%92.03%93.44%89.44%91.80%-379 bps
Liquid Assets / Assets16.60%13.25%13.15%12.48%15.56%13.12%14.35%12.40%-7 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a