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New Mexico Bank & Trust

Albuquerque, NM · Cert 34726

FDIC · 21 branches

Q2 2023

$2.6BAssets
$1.3BLoans
$2.4BDeposits
$180.8MEquity
Loan mix
66%RE $592.9M33%C&I $299.9M1%Consumer $10.5MQ2 2022Q2 2023
Deposit mix
65%Interest-bearing $1.5B35%Noninterest $0.8BQ2 2022Q2 2023

NIM

3.04%Q2 ’212.93%Q2 ’224.27%Q2 ’23-4%+17%

Non-interest income vs. expense

1.87%Q2 ’211.87%Q2 ’222.09%Q2 ’23-4%+16%

Market Position · Albuquerque, NM · 2023 SOD (annual) · 6.8% share · #6 of 23 inst. · $1.4B of $20.4B

5.9% Bernalillo
8.3% Santa Fe
14.7% Sandoval
22.5% Rio Arriba

Executive Summary

  • Earnings: ROA of 1.47%, up 24 bps year over year; NIM at 3.36%.
  • Asset quality: problem loans at 0.26% of loans (-18 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 9.12%, up 142 bps from a year ago.
  • Funding: loans stand at 54.77% of deposits as of Q2 2023.

Financial Results

Return on Assets (YTD, annualized)

1.47%+24 bps YoY

Net Interest Margin (YTD, annualized)

3.36%+48 bps YoY

Efficiency Ratio (YTD, annualized)

53.92%-108 bps YoY

Tier 1 Leverage Ratio

9.12%+142 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2022Q3 2022Q4 2022Q1 2023Q2 2023YoY ΔTrend
Earnings
Return on Assets1.23%1.38%1.48%1.53%1.47%+24 bps
Return on Equity16.66%19.93%22.06%24.22%22.44%+578 bps
Net Interest Margin2.88%3.02%3.16%3.44%3.36%+48 bps
Efficiency Ratio55.01%52.27%49.63%52.69%53.92%-108 bps
Non-Interest Burden1.34%1.31%1.29%1.57%1.56%+22 bps
Growth
Asset Growth (YoY)6.10%3.09%2.39%1.90%-2.14%-824 bps
Loan Growth (YoY)6.81%2.52%0.52%-4.62%-5.76%-1,257 bps
Deposit Growth (YoY)10.22%10.02%3.64%1.04%-2.22%-1,244 bps
Asset Quality
Nonperforming Loans / Loans0.43%0.43%0.43%0.52%0.26%-18 bps
Net Charge-Offs / Loans0.11%0.07%0.08%-0.01%0.02%-9 bps
Allowance / Loans0.88%0.89%0.93%0.90%0.89%0 bps
Allowance Coverage of NPLs2.0x2.1x2.2x1.7x3.5x+1.4x
Capital
Tier 1 Leverage Ratio7.70%7.91%8.12%8.62%9.12%+142 bps
Total Risk-Based Capital12.17%12.66%13.23%14.01%14.85%+268 bps
Equity / Assets6.20%5.57%5.94%6.71%6.97%+77 bps
Liquidity & Funding
Loans / Deposits56.83%55.28%56.22%56.13%54.77%-206 bps
Liquid Assets / Assets0.51%5.36%5.09%5.34%5.64%+513 bps
CRE / Total Capitaln/an/an/an/an/an/an/a