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Issaquah Bank

Issaquah, WA · Cert 33783

FDIC

Q1 2004

$130.5MAssets
$95.2MLoans
$105.4MDeposits
$11.4MEquity
Loan mix
46%RE $17.2M52%C&I $19.5M2%Consumer $0.6MQ1 2003Q1 2004
Deposit mix
84%Interest-bearing $89.0M16%Noninterest $16.4MQ1 2003Q1 2004

NIM

7.34%Q1 ’026.10%Q1 ’035.90%Q1 ’04-13%+3%

Non-interest income vs. expense

2.93%Q1 ’022.78%Q1 ’033.48%Q1 ’04-5%+34%

Executive Summary

  • Earnings: ROA of 0.79%, down 76 bps year over year; NIM at 4.36%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 90.26% of deposits as of Q1 2004.

Financial Results

Return on Assets (quarter, annualized)

0.79%-76 bps YoY

Net Interest Margin (quarter, annualized)

4.36%+14 bps YoY

Efficiency Ratio (quarter, annualized)

74.05%+1,444 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets1.55%1.02%1.11%1.19%0.79%-76 bps
Return on Equity18.39%12.46%13.66%13.87%8.80%-959 bps
Net Interest Margin4.22%4.27%3.92%4.19%4.36%+14 bps
Efficiency Ratio59.61%56.27%59.23%59.11%74.05%+1,444 bps
Non-Interest Burden2.34%2.23%2.18%2.31%3.14%+80 bps
Growth
Asset Growth (YoY)29.66%31.31%25.15%5.42%0.41%-2,924 bps
Loan Growth (YoY)10.51%14.95%7.43%14.00%17.10%+659 bps
Deposit Growth (YoY)28.75%28.35%17.29%-3.47%-3.03%-3,179 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.24%-0.23%0.25%0.00%-5 bps
Allowance / Loans1.61%1.66%1.72%1.57%1.45%-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 Capital12.43%12.36%12.63%12.89%11.78%-64 bps
Equity / Assets8.24%8.15%8.14%9.12%8.77%+52 bps
Liquidity & Funding
Loans / Deposits74.74%72.92%72.35%84.92%90.26%+1,552 bps
Liquid Assets / Assets16.03%10.16%12.37%4.39%3.33%-1,270 bps
CRE / Total Capitaln/an/an/an/an/an/an/a