Associated Card Services Bank, National Association

Stevens Point, WI · Cert 34208

FDIC

Q2 2003

$26.7MAssets

n/aLoans

$727KDeposits

$10.1MEquity

Deposit mix

Executive Summary

Return on Assets (YTD, annualized)

15.22%+481 bps YoY

Net Interest Margin (YTD, annualized)

0.47%+13 bps YoY

Efficiency Ratio (YTD, annualized)

65.97%-1,068 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

Metric	Q3 2001	Q4 2001	Q1 2002	Q2 2002	Q3 2002	Q4 2002	Q1 2003	Q2 2003	YoY Δ	Trend
Earnings
Return on Assets	16.05%	12.49%	13.94%	10.42%	10.40%	11.16%	13.38%	15.22%	+481 bps
Return on Equity	n/a	n/a	38.55%	28.14%	28.48%	30.67%	38.71%	42.57%	+1,443 bps
Net Interest Margin	1.28%	1.11%	0.62%	0.34%	0.23%	0.32%	0.65%	0.47%	+13 bps
Efficiency Ratio	67.30%	73.23%	68.09%	76.64%	77.21%	77.30%	75.98%	65.97%	-1,068 bps
Non-Interest Burden	-22.37%	-17.05%	-20.49%	-13.61%	-15.23%	-14.92%	-19.48%	-22.45%	-884 bps
Growth
Asset Growth (YoY)	-1.41%	13.92%	0.47%	-7.45%	23.00%	-19.95%	-7.72%	-10.14%	-269 bps
Loan Growth (YoY)	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Deposit Growth (YoY)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	45.40%	+4,540 bps
Asset Quality
Nonperforming Loans / Loans	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Allowance / Loans	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	81.30%	70.76%	124.03%	71.57%	138.82%	114.21%	80.23%	74.87%	+330 bps
Equity / Assets	34.58%	34.59%	37.75%	38.63%	35.33%	35.58%	33.70%	37.98%	-64 bps
Liquidity & Funding
Loans / Deposits	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a