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Silver State Bank

Henderson, NV · Cert 34194

FDIC

Q2 2008

$2.0BAssets
$1.6BLoans
$1.7BDeposits
$134.5MEquity
Loan mix
91%RE $1.4B9%C&I $0.1B0%Consumer $0.0BQ2 2007Q2 2008
Deposit mix
93%Interest-bearing $1.6B7%Noninterest $0.1BQ2 2007Q2 2008

NIM

9.16%Q2 ’069.69%Q2 ’076.69%Q2 ’08-6%-50%

Non-interest income vs. expense

2.67%Q2 ’062.56%Q2 ’076.16%Q2 ’08-3%+169%

Executive Summary

  • Earnings: ROA of -16.24%, down 1,828 bps year over year; NIM at 2.96%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 7.55%.
  • Funding: loans stand at 94.58% of deposits as of Q2 2008.

Financial Results

Return on Assets (quarter, annualized)

-16.24%-1,828 bps YoY

Net Interest Margin (quarter, annualized)

2.96%-293 bps YoY

Efficiency Ratio (quarter, annualized)

74.60%+3,381 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets2.04%2.24%1.73%-3.30%-16.24%-1,828 bps
Return on Equity21.00%21.07%15.92%-32.80%-203%-22,382 bps
Net Interest Margin5.89%5.97%5.36%4.38%2.96%-293 bps
Efficiency Ratio40.79%36.21%41.83%51.21%74.60%+3,381 bps
Non-Interest Burden2.18%1.87%1.99%2.05%5.85%+367 bps
Growth
Asset Growth (YoY)37.48%45.24%46.77%35.80%49.85%+1,237 bps
Loan Growth (YoY)50.27%59.60%53.35%37.41%37.28%-1,299 bps
Deposit Growth (YoY)40.43%47.57%42.37%34.60%57.99%+1,757 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.01%0.27%2.58%7.55%+753 bps
Allowance / Loans1.09%1.12%1.20%2.48%4.81%+373 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 Capital10.83%11.37%11.33%10.48%8.86%-197 bps
Equity / Assets10.34%10.93%10.79%9.38%6.87%-346 bps
Liquidity & Funding
Loans / Deposits108.85%109.15%115.48%108.09%94.58%-1,427 bps
Liquid Assets / Assets0.04%0.03%0.03%0.13%0.01%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a