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Charter Bank

Bellevue, WA · Cert 34623

FDIC

Q1 2011

$348.6MAssets
$205.7MLoans
$260.5MDeposits
$37.1MEquity
Loan mix
81%RE $127.9M18%C&I $29.1M1%Consumer $1.1MQ1 2010Q1 2011
Deposit mix
65%Interest-bearing $169.0M35%Noninterest $91.5MQ1 2010Q1 2011

NIM

4.49%Q1 ’094.46%Q1 ’103.86%Q1 ’11+35%-10%

Non-interest income vs. expense

3.25%Q1 ’093.67%Q1 ’103.74%Q1 ’11+11%-15%

Executive Summary

  • Earnings: ROA of 0.52%, up 34 bps year over year; NIM at 3.20%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 78.97% of deposits as of Q1 2011.

Financial Results

Return on Assets (quarter, annualized)

0.52%+34 bps YoY

Net Interest Margin (quarter, annualized)

3.20%-37 bps YoY

Efficiency Ratio (quarter, annualized)

96.29%-290 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2010Q2 2010Q3 2010Q4 2010Q1 2011YoY ΔTrend
Earnings
Return on Assets0.18%10.46%10.11%1-0.38%0.52%+34 bps
Return on Equity1.70%4.17%0.96%-3.69%5.05%+334 bps
Net Interest Margin3.57%3.15%3.27%3.42%3.20%-37 bps
Efficiency Ratio99.20%149.39%147.48%125.16%96.29%-290 bps
Non-Interest Burden3.58%4.69%4.82%4.28%3.06%-52 bps
Growth
Asset Growth (YoY)-22.20%-30.77%-9.82%2.04%1.30%+2,350 bps
Loan Growth (YoY)-14.37%-2.88%4.55%11.74%14.81%+2,919 bps
Deposit Growth (YoY)-15.49%-29.08%-10.98%-0.20%1.14%+1,663 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.84%-0.67%0.09%-0.38%-0.01%-185 bps
Allowance / Loans4.83%4.38%3.48%3.43%3.15%-168 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 Capital17.78%18.41%17.09%16.20%17.42%-36 bps
Equity / Assets10.67%11.22%10.83%9.94%10.66%-1 bps
Liquidity & Funding
Loans / Deposits69.57%71.39%76.96%75.85%78.97%+940 bps
Liquid Assets / Assets8.26%9.74%5.60%4.24%2.16%-609 bps
CRE / Total Capitaln/an/an/an/an/an/an/a