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Letter portraitLegal landscapeQuarterYTD

Bank of the San Juans

Durango, CO · Cert 34873

FDIC

Q1 2012

$236.7MAssets
$134.7MLoans
$186.9MDeposits
$27.8MEquity
Loan mix
92%RE $104.3M7%C&I $8.4M1%Consumer $0.9MQ1 2011Q1 2012
Deposit mix
85%Interest-bearing $159.8M15%Noninterest $27.2MQ1 2011Q1 2012

NIM

5.30%Q1 ’104.28%Q1 ’114.15%Q1 ’12-15%+1%

Non-interest income vs. expense

3.08%Q1 ’102.68%Q1 ’112.57%Q1 ’12-19%-9%

Executive Summary

  • Earnings: ROA of 1.20%, up 41 bps year over year; NIM at 3.71%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.36%.
  • Funding: loans stand at 72.07% of deposits as of Q1 2012.

Financial Results

Return on Assets (quarter, annualized)

1.20%+41 bps YoY

Net Interest Margin (quarter, annualized)

3.71%+4 bps YoY

Efficiency Ratio (quarter, annualized)

55.75%-368 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2011Q2 2011Q3 2011Q4 2011Q1 2012YoY ΔTrend
Earnings
Return on Assets0.80%0.45%0.28%0.52%1.20%+41 bps
Return on Equity7.22%4.01%2.40%4.58%10.47%+325 bps
Net Interest Margin3.67%3.61%3.68%3.72%3.71%+4 bps
Efficiency Ratio59.43%77.82%63.27%80.57%55.75%-368 bps
Non-Interest Burden2.02%3.00%2.37%3.04%1.85%-17 bps
Growth
Asset Growth (YoY)32.57%10.19%10.73%5.49%1.07%-3,150 bps
Loan Growth (YoY)-5.33%-6.79%-6.28%-5.61%-4.52%+81 bps
Deposit Growth (YoY)24.54%6.26%12.63%5.89%3.03%-2,151 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.77%0.52%1.72%0.42%-0.36%-112 bps
Allowance / Loans3.18%3.13%3.22%3.09%3.22%+4 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 Capital13.18%13.27%13.37%13.63%13.50%+32 bps
Equity / Assets10.99%11.52%11.49%11.23%11.74%+76 bps
Liquidity & Funding
Loans / Deposits77.77%76.83%69.89%69.47%72.07%-570 bps
Liquid Assets / Assets1.61%0.45%3.92%0.83%1.17%-45 bps
CRE / Total Capitaln/an/an/an/an/an/an/a