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Associates Capital Bank, Inc.

Salt Lake City, UT · Cert 33792

FDIC

Q2 2005

$387.7MAssets
$296.9MLoans
$241.0MDeposits
$123.3MEquity
Deposit mix
99%Interest-bearing $238.3M1%Noninterest $2.8MQ2 2004Q2 2005

NIM

12.50%Q2 ’0313.80%Q2 ’0413.11%Q2 ’05+12%-14%

Non-interest income vs. expense

1.99%Q2 ’032.29%Q2 ’042.08%Q2 ’05+20%-135%

Executive Summary

  • Earnings: ROA of 6.95%, down 18 bps year over year; NIM at 11.27%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.90%.
  • Funding: loans stand at 123.18% of deposits as of Q2 2005.

Financial Results

Return on Assets (quarter, annualized)

6.95%-18 bps YoY

Net Interest Margin (quarter, annualized)

11.27%-188 bps YoY

Efficiency Ratio (quarter, annualized)

13.10%-75 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2004Q3 2004Q4 2004Q1 2005Q2 2005YoY ΔTrend
Earnings
Return on Assets7.13%7.07%7.39%7.39%6.95%-18 bps
Return on Equity27.56%26.11%26.04%25.50%22.97%-459 bps
Net Interest Margin13.16%11.49%11.72%11.53%11.27%-188 bps
Efficiency Ratio13.85%13.83%12.79%12.97%13.10%-75 bps
Non-Interest Burden-1.09%-2.28%-2.71%-2.50%-2.55%-146 bps
Growth
Asset Growth (YoY)20.39%16.66%12.19%13.49%7.72%-1,267 bps
Loan Growth (YoY)50.22%52.94%17.52%3.63%-10.91%-6,113 bps
Deposit Growth (YoY)13.15%6.43%9.13%10.08%1.08%-1,207 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans3.29%2.95%3.24%3.07%3.90%+61 bps
Allowance / Loans4.84%4.57%4.62%4.44%5.44%+59 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 Capital32.34%33.81%36.13%37.81%41.07%+873 bps
Equity / Assets26.64%27.49%29.27%28.75%31.80%+516 bps
Liquidity & Funding
Loans / Deposits139.77%148.84%140.46%134.93%123.18%-1,659 bps
Liquid Assets / Assets3.06%3.09%3.08%3.09%0.00%-306 bps
CRE / Total Capitaln/an/an/an/an/an/an/a