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Montana First National Bank

Kalispell, MT · Cert 34206

FDIC

Q3 2003

$29.8MAssets
$15.4MLoans
$23.9MDeposits
$5.2MEquity
Deposit mix
80%Interest-bearing $19.2M20%Noninterest $4.7MQ3 2002Q3 2003

NIM

8.20%Q3 ’017.73%Q3 ’025.35%Q3 ’03+20%-29%

Non-interest income vs. expense

3.87%Q3 ’013.97%Q3 ’024.38%Q3 ’03+11%+9%

Executive Summary

  • Earnings: ROA of 0.23%, down 117 bps year over year; NIM at 3.76%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.10%.
  • Funding: loans stand at 64.56% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

0.23%-117 bps YoY

Net Interest Margin (quarter, annualized)

3.76%-156 bps YoY

Efficiency Ratio (quarter, annualized)

81.87%+1,803 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.39%1.27%1.46%-0.97%0.23%-117 bps
Return on Equity13.50%12.23%13.69%-6.91%1.31%-1,219 bps
Net Interest Margin5.32%5.66%5.33%-3.25%3.76%-156 bps
Efficiency Ratio63.84%68.10%62.59%80.33%81.87%+1,803 bps
Non-Interest Burden3.07%3.52%2.89%-0.92%3.34%+26 bps
Growth
Asset Growth (YoY)1.29%0.27%6.83%21.75%9.36%+807 bps
Loan Growth (YoY)0.34%0.08%-5.43%-8.64%-15.47%-1,581 bps
Deposit Growth (YoY)4.24%-1.59%5.72%12.91%-0.30%-453 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%-0.09%0.07%-0.07%0.10%+10 bps
Allowance / Loans0.91%0.99%1.13%1.17%1.28%+37 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 Capital14.01%14.35%15.36%15.53%17.19%+318 bps
Equity / Assets10.04%10.71%10.68%17.14%17.34%+730 bps
Liquidity & Funding
Loans / Deposits76.15%79.81%71.21%65.84%64.56%-1,159 bps
Liquid Assets / Assets8.35%3.84%15.18%9.30%3.57%-478 bps
CRE / Total Capitaln/an/an/an/an/an/an/a