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Commerce National Bank

Worthington, OH · Cert 33433

FDIC

Q2 2009

$638.9MAssets
$546.3MLoans
$483.5MDeposits
$84.7MEquity
Loan mix
56%RE $265.5M44%C&I $208.5M0%Consumer $1.1MQ2 2008Q2 2009
Deposit mix
84%Interest-bearing $406.9M16%Noninterest $76.6MQ2 2008Q2 2009

NIM

6.64%Q2 ’076.15%Q2 ’085.45%Q2 ’09+5%-8%

Non-interest income vs. expense

2.19%Q2 ’072.22%Q2 ’082.13%Q2 ’09+0%-4%

Executive Summary

  • Earnings: ROA of -0.28%, down 110 bps year over year; NIM at 3.22%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.44%.
  • Funding: loans stand at 112.98% of deposits as of Q2 2009.

Financial Results

Return on Assets (quarter, annualized)

-0.28%-110 bps YoY

Net Interest Margin (quarter, annualized)

3.22%-27 bps YoY

Efficiency Ratio (quarter, annualized)

58.37%+235 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2008Q3 2008Q4 2008Q1 2009Q2 2009YoY ΔTrend
Earnings
Return on Assets0.82%0.79%0.28%0.56%-0.28%-110 bps
Return on Equity6.01%5.92%2.15%4.23%-2.11%-812 bps
Net Interest Margin3.50%3.40%3.38%3.13%3.22%-27 bps
Efficiency Ratio56.03%51.72%57.13%57.79%58.37%+235 bps
Non-Interest Burden2.00%1.76%2.15%1.87%1.92%-8 bps
Growth
Asset Growth (YoY)13.14%12.76%11.66%8.06%5.29%-785 bps
Loan Growth (YoY)16.36%16.07%13.23%6.51%1.76%-1,460 bps
Deposit Growth (YoY)12.24%17.84%15.61%10.41%9.14%-311 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%0.14%0.75%0.10%0.44%+45 bps
Allowance / Loans0.94%0.98%0.95%1.07%1.49%+55 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 Capital10.68%10.58%10.58%10.99%11.21%+53 bps
Equity / Assets13.57%13.09%13.01%13.22%13.25%-32 bps
Liquidity & Funding
Loans / Deposits121.17%115.99%117.33%117.84%112.98%-819 bps
Liquid Assets / Assets0.04%0.04%0.04%0.03%0.67%+63 bps
CRE / Total Capitaln/an/an/an/an/an/an/a