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Centennial Bank

Ogden, UT · Cert 34430

FDIC

Q4 2009

$212.8MAssets
$136.7MLoans
$205.1MDeposits
$6.4MEquity
Loan mix
85%RE $82.5M15%C&I $14.7M0%Consumer $0.1MQ4 2008Q4 2009
Deposit mix
92%Interest-bearing $189.5M8%Noninterest $15.5MQ4 2008Q4 2009

NIM

10.43%Q4 ’074.58%Q4 ’083.70%Q4 ’09-79%+10%

Non-interest income vs. expense

3.14%Q4 ’073.07%Q4 ’083.24%Q4 ’09+13%-27%

Executive Summary

  • Earnings: ROA of 4.75%, up 693 bps year over year; NIM at 1.53%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 16.13%.
  • Funding: loans stand at 66.64% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

4.75%+693 bps YoY

Net Interest Margin (quarter, annualized)

1.53%+14 bps YoY

Efficiency Ratio (quarter, annualized)

151.61%-21,614 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-2.18%-4.52%-1.78%-22.91%4.75%+693 bps
Return on Equity-22.20%-53.13%-23.97%-514%209%+23,157 bps
Net Interest Margin1.39%2.41%1.61%1.99%1.53%+14 bps
Efficiency Ratio368%146.35%889%n/a151.61%-21,614 bps
Non-Interest Burden3.62%3.39%4.55%13.68%2.63%-99 bps
Growth
Asset Growth (YoY)-8.01%8.63%9.74%12.20%-1.15%+685 bps
Loan Growth (YoY)-14.55%-4.86%-6.03%3.35%-17.92%-337 bps
Deposit Growth (YoY)-8.27%12.21%13.32%22.69%6.09%+1,436 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.86%5.93%10.80%2.57%16.13%+1,327 bps
Allowance / Loans2.50%2.86%0.48%4.65%1.89%-61 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 Capital11.90%10.01%8.77%-0.19%0.01%-1,190 bps
Equity / Assets9.62%7.52%7.32%1.60%3.00%-662 bps
Liquidity & Funding
Loans / Deposits86.13%81.63%76.05%76.38%66.64%-1,949 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