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Letter portraitLegal landscapeQuarterYTD

Verdugo Banking Company

Glendale, CA · Cert 33483

FDIC

Q2 2003

$185.9MAssets
$152.5MLoans
$169.7MDeposits
$15.4MEquity
Loan mix
22%RE $12.7M78%C&I $45.5M0%Consumer $0.3MQ2 2002Q2 2003
Deposit mix
91%Interest-bearing $153.7M9%Noninterest $16.0MQ2 2002Q2 2003

NIM

7.63%Q2 ’015.54%Q2 ’025.41%Q2 ’03-17%+3%

Non-interest income vs. expense

3.18%Q2 ’012.82%Q2 ’022.53%Q2 ’03-14%-14%

Executive Summary

  • Earnings: ROA of 1.14%, up 18 bps year over year; NIM at 4.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.02%.
  • Funding: loans stand at 89.89% of deposits as of Q2 2003.

Financial Results

Return on Assets (YTD, annualized)

1.14%+18 bps YoY

Net Interest Margin (YTD, annualized)

4.47%+14 bps YoY

Efficiency Ratio (YTD, annualized)

52.73%-884 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets0.95%0.95%0.99%1.11%1.14%+18 bps
Return on Equity11.66%11.54%11.88%13.23%13.60%+194 bps
Net Interest Margin4.33%4.40%4.20%4.58%4.47%+14 bps
Efficiency Ratio61.57%60.70%61.19%54.09%52.73%-884 bps
Non-Interest Burden2.57%2.58%2.49%2.32%2.20%-37 bps
Growth
Asset Growth (YoY)13.84%17.04%16.02%15.67%13.78%-7 bps
Loan Growth (YoY)18.69%17.89%21.71%27.87%18.80%+10 bps
Deposit Growth (YoY)13.48%16.99%15.70%15.25%13.72%+24 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.33%0.24%0.20%-0.05%-0.02%-35 bps
Allowance / Loans1.45%1.55%1.47%1.50%1.61%+16 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 Capital10.85%11.21%10.85%10.50%10.73%-12 bps
Equity / Assets8.19%8.48%8.56%8.28%8.26%+7 bps
Liquidity & Funding
Loans / Deposits86.05%86.70%93.01%93.32%89.89%+384 bps
Liquid Assets / Assets7.11%7.15%6.99%6.48%6.31%-80 bps
CRE / Total Capitaln/an/an/an/an/an/an/a