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Associated Card Services Bank, National Association

Stevens Point, WI · Cert 34208

FDIC

Q2 2003

$26.7MAssets
n/aLoans
$727KDeposits
$10.1MEquity
Deposit mix
0%Interest-bearing $0K100%Noninterest $727KQ2 2002Q2 2003

NIM

1.13%Q2 ’010.15%Q2 ’020.29%Q2 ’03-87%+97%

Non-interest income vs. expense

51.77%Q2 ’0152.57%Q2 ’0225.74%Q2 ’03+57%-170%

Executive Summary

  • Earnings: ROA of 16.57%, up 960 bps year over year; NIM at 0.29%.
  • Funding: loans stand at 0.00% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

16.57%+960 bps YoY

Net Interest Margin (quarter, annualized)

0.29%+14 bps YoY

Efficiency Ratio (quarter, annualized)

49.86%-3,465 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets6.96%10.76%11.84%13.38%16.57%+960 bps
Return on Equity18.24%29.21%33.41%38.71%46.24%+2,800 bps
Net Interest Margin0.15%-0.06%0.62%0.65%0.29%+14 bps
Efficiency Ratio84.51%78.22%77.52%75.98%49.86%-3,465 bps
Non-Interest Burden-9.49%-16.17%-15.54%-19.48%-25.59%-1,610 bps
Growth
Asset Growth (YoY)-7.45%23.00%-19.95%-7.72%-10.14%-269 bps
Loan Growth (YoY)n/an/an/an/an/an/an/a
Deposit Growth (YoY)0.00%0.00%0.00%0.00%45.40%+4,540 bps
Asset Quality
Nonperforming Loans / Loansn/an/an/an/an/an/an/a
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loansn/an/an/an/an/an/an/a
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 Capital71.57%138.82%114.21%80.23%74.87%+330 bps
Equity / Assets38.63%35.33%35.58%33.70%37.98%-64 bps
Liquidity & Funding
Loans / Deposits0.00%0.00%0.00%0.00%0.00%0 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