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Valley Commerce Bank

Phoenix, AZ · Cert 34002

FDIC

Q4 2010

$287.6MAssets
$237.6MLoans
$223.9MDeposits
$44.6MEquity
Loan mix
75%RE $158.8M25%C&I $52.3M0%Consumer $0.1MQ4 2009Q4 2010
Deposit mix
90%Interest-bearing $201.1M10%Noninterest $22.8MQ4 2009Q4 2010

NIM

5.21%Q4 ’084.39%Q4 ’094.53%Q4 ’10-9%+11%

Non-interest income vs. expense

6.91%Q4 ’086.89%Q4 ’095.23%Q4 ’10-8%-31%

Executive Summary

  • Earnings: ROA of -1.42%, up 102 bps year over year; NIM at 4.07%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.07%.
  • Funding: loans stand at 106.12% of deposits as of Q4 2010.

Financial Results

Return on Assets (YTD, annualized)

-1.42%+102 bps YoY

Net Interest Margin (YTD, annualized)

4.07%+40 bps YoY

Efficiency Ratio (YTD, annualized)

97.36%-4,216 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets-2.44%-0.74%-1.05%-0.66%-1.42%+102 bps
Return on Equity-15.75%-4.94%-6.92%-4.34%-9.27%+648 bps
Net Interest Margin3.67%4.04%3.97%3.98%4.07%+40 bps
Efficiency Ratio139.52%86.15%107.54%94.94%97.36%-4,216 bps
Non-Interest Burden5.86%3.37%4.40%3.81%4.02%-183 bps
Growth
Asset Growth (YoY)10.14%13.12%11.83%13.22%2.36%-778 bps
Loan Growth (YoY)11.27%14.32%13.51%11.43%4.83%-643 bps
Deposit Growth (YoY)57.78%17.87%11.42%21.70%5.39%-5,239 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.91%1.75%1.23%1.44%2.07%+16 bps
Allowance / Loans3.14%3.24%3.22%2.89%3.80%+66 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 Capital10.63%11.32%11.84%12.54%12.05%+142 bps
Equity / Assets14.89%15.12%15.41%15.43%15.52%+64 bps
Liquidity & Funding
Loans / Deposits106.68%110.22%101.60%95.87%106.12%-56 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a