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Letter portraitLegal landscapeQuarterYTD

Privest Bank

Costa Mesa, CA · Cert 34739

FDIC

Q4 2003

$77.2MAssets
$46.3MLoans
$70.6MDeposits
$4.6MEquity
Loan mix
62%RE $18.5M36%C&I $10.8M2%Consumer $0.4MQ4 2002Q4 2003
Deposit mix
57%Interest-bearing $40.3M43%Noninterest $30.3MQ4 2002Q4 2003

NIM

5.34%Q4 ’014.42%Q4 ’023.76%Q4 ’03-8%-8%

Non-interest income vs. expense

4.25%Q4 ’013.72%Q4 ’026.95%Q4 ’03-17%+112%

Executive Summary

  • Earnings: ROA of -3.95%, down 449 bps year over year; NIM at 3.28%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.95%.
  • Funding: loans stand at 65.61% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

-3.95%-449 bps YoY

Net Interest Margin (quarter, annualized)

3.28%-29 bps YoY

Efficiency Ratio (quarter, annualized)

180.24%+9,335 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets0.54%0.38%0.53%0.91%-3.95%-449 bps
Return on Equity8.19%5.79%8.29%14.28%-63.93%-7,212 bps
Net Interest Margin3.56%3.58%3.27%3.68%3.28%-29 bps
Efficiency Ratio86.89%82.60%82.13%73.54%180.24%+9,335 bps
Non-Interest Burden3.00%2.85%2.53%2.49%6.37%+337 bps
Growth
Asset Growth (YoY)20.55%27.27%7.26%9.25%1.56%-1,900 bps
Loan Growth (YoY)23.24%58.05%45.87%43.37%33.70%+1,046 bps
Deposit Growth (YoY)23.79%32.81%9.50%9.23%2.07%-2,172 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.95%+95 bps
Allowance / Loans0.86%0.83%0.96%1.01%1.04%+18 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 Capital12.88%12.04%12.18%12.49%10.59%-229 bps
Equity / Assets6.74%6.43%6.33%6.41%5.92%-82 bps
Liquidity & Funding
Loans / Deposits50.09%58.61%54.18%58.74%65.61%+1,552 bps
Liquid Assets / Assets8.54%6.67%10.48%7.30%7.32%-122 bps
CRE / Total Capitaln/an/an/an/an/an/an/a