PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Old Kent Bank, National Association

Jonesville, MI · Cert 34434

FDIC

Q3 2003

$8.2BAssets
$4.5BLoans
$4.7BDeposits
$1.1BEquity
Loan mix
25%RE $0.5B73%C&I $1.5B2%Consumer $0.0BQ3 2002Q3 2003
Deposit mix
76%Interest-bearing $3.6B24%Noninterest $1.1BQ3 2002Q3 2003

NIM

6.23%Q3 ’015.23%Q3 ’024.39%Q3 ’03+1%+5%

Non-interest income vs. expense

1.95%Q3 ’012.00%Q3 ’022.36%Q3 ’03-73%+216%

Executive Summary

  • Earnings: ROA of 1.27%, down 50 bps year over year; NIM at 2.94%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.88%.
  • Funding: loans stand at 95.28% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

1.27%-50 bps YoY

Net Interest Margin (quarter, annualized)

2.94%+15 bps YoY

Efficiency Ratio (quarter, annualized)

50.14%+669 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.77%1.30%1.01%0.35%1.27%-50 bps
Return on Equity13.22%9.71%7.61%2.57%9.52%-370 bps
Net Interest Margin2.79%2.78%2.71%2.80%2.94%+15 bps
Efficiency Ratio43.45%47.88%50.74%75.45%50.14%+669 bps
Non-Interest Burden0.19%0.56%0.57%1.69%0.59%+41 bps
Growth
Asset Growth (YoY)-3.29%-5.11%-6.07%-6.39%-2.72%+57 bps
Loan Growth (YoY)1.53%7.64%10.39%19.41%19.29%+1,776 bps
Deposit Growth (YoY)-5.29%-4.75%-6.42%-7.16%0.71%+600 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.42%0.53%0.39%0.30%0.88%+46 bps
Allowance / Loans1.47%1.48%1.83%1.88%1.87%+40 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 Capital20.36%18.19%18.59%17.94%17.04%-332 bps
Equity / Assets13.78%12.93%13.67%13.56%13.14%-63 bps
Liquidity & Funding
Loans / Deposits80.44%84.85%86.31%93.38%95.28%+1,484 bps
Liquid Assets / Assets0.01%0.07%0.16%0.16%0.18%+17 bps
CRE / Total Capitaln/an/an/an/an/an/an/a