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Letter portraitLegal landscapeQuarterYTD

Conseco Bank, Inc.

Salt Lake City, UT · Cert 34536

FDIC

Q1 2003

$2.7BAssets
$2.2BLoans
$2.3BDeposits
$333.5MEquity
Loan mix
6%RE $0.1B0%C&I $0.0B94%Consumer $2.0BQ1 2002Q1 2003
Deposit mix
99%Interest-bearing $2.3B1%Noninterest $0.0BQ1 2002Q1 2003

NIM

15.69%Q1 ’0114.20%Q1 ’0210.62%Q1 ’03+8%-29%

Non-interest income vs. expense

4.07%Q1 ’014.29%Q1 ’024.15%Q1 ’03+282%-46%

Executive Summary

  • Earnings: ROA of 1.42%, down 351 bps year over year; NIM at 7.58%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 5.52%.
  • Funding: loans stand at 95.11% of deposits as of Q1 2003.

Financial Results

Return on Assets (YTD, annualized)

1.42%-351 bps YoY

Net Interest Margin (YTD, annualized)

7.58%-315 bps YoY

Efficiency Ratio (YTD, annualized)

35.85%+674 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2002Q2 2002Q3 2002Q4 2002Q1 2003YoY ΔTrend
Earnings
Return on Assets4.94%4.33%4.03%3.67%1.42%-351 bps
Return on Equity44.27%40.34%37.93%34.58%12.38%-3,190 bps
Net Interest Margin10.73%10.10%9.60%9.26%7.58%-315 bps
Efficiency Ratio29.11%27.30%26.55%26.69%35.85%+674 bps
Non-Interest Burden0.28%-0.35%-0.51%-0.82%0.15%-13 bps
Growth
Asset Growth (YoY)15.60%-0.65%-1.50%13.06%-1.77%-1,737 bps
Loan Growth (YoY)9.12%-3.09%-3.21%-10.20%-9.64%-1,876 bps
Deposit Growth (YoY)8.78%14.54%5.50%29.19%21.24%+1,246 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans5.29%4.60%3.97%4.91%5.52%+23 bps
Allowance / Loans3.89%3.32%3.31%4.49%4.82%+93 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 Capital12.83%10.84%11.46%14.33%15.67%+284 bps
Equity / Assets11.31%9.92%10.31%10.63%12.52%+120 bps
Liquidity & Funding
Loans / Deposits127.62%124.45%126.30%95.02%95.11%-3,251 bps
Liquid Assets / Assets1.54%0.01%2.37%0.13%0.16%-138 bps
CRE / Total Capitaln/an/an/an/an/an/an/a