Bellingham, WA · Cert 34421
FDIC
Q4 2003
Board Package
Performance Trends and Peer Comparison
Quarter: Q4 2003, the quarter ended December 31, 2003, on both parts.
Income statement: year to date as filed, annualized, on both parts.
Balance sheet: as filed at quarter end.
No peer standings are published for this institution and quarter.
Peer groups below the disclosure floor are suppressed.
Bellingham, WA · Cert 34421
FDIC
Q4 2003
Return on Assets (YTD, annualized)
Net Interest Margin (YTD, annualized)
Efficiency Ratio (YTD, annualized)
Tier 1 Leverage Ratio
Year to date, annualized, through each quarter.
| Metric | Q1 2002 | Q2 2002 | Q3 2002 | Q4 2002 | Q1 2003 | Q2 2003 | Q3 2003 | Q4 2003 | YoY Δ | Trend |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings | ||||||||||
| Return on Assets | 0.75% | 0.95% | 1.12% | 1.06% | 0.43% | 0.83% | 0.81% | 0.97% | -9 bps | |
| Return on Equity | 9.30% | 10.98% | 12.84% | 12.27% | 4.90% | 9.59% | 9.59% | 11.68% | -59 bps | |
| Net Interest Margin | 5.09% | 4.95% | 4.94% | 4.92% | 5.25% | 5.27% | 4.77% | 4.93% | 0 bps | |
| Efficiency Ratio | 84.10% | 80.76% | 78.30% | 76.15% | 82.54% | 76.98% | 77.04% | 76.54% | +39 bps | |
| Non-Interest Burden | 4.08% | 3.77% | 3.64% | 3.45% | 4.04% | 3.67% | 3.35% | 3.48% | +3 bps | |
| Growth | ||||||||||
| Asset Growth (YoY) | 52.97% | 51.79% | 49.96% | 40.09% | 43.02% | 44.95% | 34.73% | 34.37% | -573 bps | |
| Loan Growth (YoY) | 69.25% | 63.57% | 74.63% | 55.57% | 53.03% | 46.33% | 30.44% | 37.60% | -1,796 bps | |
| Deposit Growth (YoY) | 77.22% | 55.51% | 51.43% | 29.09% | 39.10% | 39.82% | 41.53% | 43.16% | +1,407 bps | |
| Asset Quality | ||||||||||
| Nonperforming Loans / Loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0 bps | |
| Net Charge-Offs / Loans | 0.06% | 0.14% | 0.07% | 0.04% | 0.09% | 0.04% | 0.03% | 0.03% | -1 bps | |
| Allowance / Loans | 1.03% | 0.93% | 0.88% | 1.19% | 1.27% | 1.40% | 1.56% | 1.41% | +22 bps | |
| 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 | 10.49% | 11.37% | 10.60% | 10.62% | 11.26% | 10.82% | 10.62% | 9.79% | -82 bps | |
| Equity / Assets | 8.33% | 9.65% | 8.78% | 8.41% | 9.05% | 8.38% | 8.04% | 7.86% | -55 bps | |
| Liquidity & Funding | ||||||||||
| Loans / Deposits | 98.69% | 104.74% | 106.11% | 112.49% | 108.57% | 109.62% | 97.80% | 108.12% | -437 bps | |
| Liquid Assets / Assets | 0.02% | 0.02% | 0.01% | 0.06% | 0.54% | 2.04% | 5.52% | 0.01% | -5 bps | |
| CRE / Total Capital | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |