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Modesto Commerce Bank

Modesto, CA · Cert 34651

FDIC

Q3 2003

$307.6MAssets
$207.3MLoans
$268.0MDeposits
$22.5MEquity
Loan mix
15%RE $10.4M83%C&I $56.5M2%Consumer $1.3MQ3 2002Q3 2003
Deposit mix
66%Interest-bearing $176.3M34%Noninterest $91.7MQ3 2002Q3 2003

NIM

7.10%Q3 ’015.71%Q3 ’025.07%Q3 ’03-12%-5%

Non-interest income vs. expense

1.90%Q3 ’012.00%Q3 ’021.58%Q3 ’03+5%-25%

Executive Summary

  • Earnings: ROA of 1.58%, up 22 bps year over year; NIM at 4.07%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 77.35% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

1.58%+22 bps YoY

Net Interest Margin (quarter, annualized)

4.07%-19 bps YoY

Efficiency Ratio (quarter, annualized)

36.48%-782 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.36%1.31%1.18%1.36%1.58%+22 bps
Return on Equity18.35%18.64%16.92%19.08%21.90%+354 bps
Net Interest Margin4.26%3.91%3.70%3.86%4.07%-19 bps
Efficiency Ratio44.30%39.86%44.82%41.28%36.48%-782 bps
Non-Interest Burden1.74%1.41%1.51%1.43%1.31%-43 bps
Growth
Asset Growth (YoY)35.55%34.19%34.68%28.97%18.87%-1,669 bps
Loan Growth (YoY)25.53%21.20%26.47%23.06%23.55%-198 bps
Deposit Growth (YoY)37.05%37.60%37.76%31.08%19.71%-1,734 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.10%-0.05%0.65%0.00%0.00%+10 bps
Allowance / Loans1.46%1.50%1.34%1.28%1.26%-21 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 Capital10.31%10.21%10.25%10.01%10.03%-28 bps
Equity / Assets7.21%6.90%7.09%7.16%7.31%+9 bps
Liquidity & Funding
Loans / Deposits74.94%72.03%73.19%75.94%77.35%+240 bps
Liquid Assets / Assets1.20%0.77%0.77%0.75%0.74%-46 bps
CRE / Total Capitaln/an/an/an/an/an/an/a