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Fremont First National Bank

Seattle, WA · Cert 33896

FDIC

Q4 2005

$177.8MAssets
$151.4MLoans
$146.2MDeposits
$19.3MEquity
Loan mix
46%RE $25.0M52%C&I $28.1M2%Consumer $0.9MQ4 2004Q4 2005
Deposit mix
88%Interest-bearing $128.6M12%Noninterest $17.6MQ4 2004Q4 2005

NIM

6.01%Q4 ’036.04%Q4 ’046.90%Q4 ’05+6%+8%

Non-interest income vs. expense

2.39%Q4 ’032.41%Q4 ’042.42%Q4 ’05+4%-9%

Executive Summary

  • Earnings: ROA of 1.53%, up 36 bps year over year; NIM at 4.46%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.44%.
  • Funding: loans stand at 103.55% of deposits as of Q4 2005.

Financial Results

Return on Assets (YTD, annualized)

1.53%+36 bps YoY

Net Interest Margin (YTD, annualized)

4.46%+32 bps YoY

Efficiency Ratio (YTD, annualized)

47.74%-504 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.17%1.23%1.34%1.42%1.53%+36 bps
Return on Equity13.92%12.40%13.42%14.10%14.94%+101 bps
Net Interest Margin4.14%4.30%4.28%4.23%4.46%+32 bps
Efficiency Ratio52.78%51.41%50.27%49.19%47.74%-504 bps
Non-Interest Burden1.98%1.87%1.81%1.76%1.81%-17 bps
Growth
Asset Growth (YoY)38.86%31.85%16.98%13.69%5.11%-3,375 bps
Loan Growth (YoY)29.50%22.83%13.17%10.52%5.59%-2,392 bps
Deposit Growth (YoY)35.12%27.25%13.64%10.80%6.03%-2,908 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.26%-0.04%0.10%0.60%0.44%+18 bps
Allowance / Loans1.24%1.36%1.44%1.14%1.25%+2 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 Capital13.44%13.46%13.45%13.60%14.08%+63 bps
Equity / Assets9.86%9.90%10.15%10.29%10.83%+97 bps
Liquidity & Funding
Loans / Deposits103.98%106.47%103.69%101.70%103.55%-44 bps
Liquid Assets / Assets0.26%0.03%0.03%0.05%0.02%-24 bps
CRE / Total Capitaln/an/an/an/an/an/an/a