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New Frontier Bank

Greeley, CO · Cert 34881

FDIC

Q1 2009

$1.8BAssets
$1.5BLoans
$1.5BDeposits
$60.5MEquity
Loan mix
88%RE $904.1M12%C&I $126.1M0%Consumer $0.6MQ1 2008Q1 2009
Deposit mix
97%Interest-bearing $1.5B3%Noninterest $0.0BQ1 2008Q1 2009

NIM

8.29%Q1 ’077.10%Q1 ’085.67%Q1 ’09-30%-26%

Non-interest income vs. expense

1.50%Q1 ’071.47%Q1 ’082.35%Q1 ’09+7%+64%

Executive Summary

  • Earnings: ROA of -20.73%, down 2,106 bps year over year; NIM at 2.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 13.30%.
  • Funding: loans stand at 102.50% of deposits as of Q1 2009.

Financial Results

Return on Assets (quarter, annualized)

-20.73%-2,106 bps YoY

Net Interest Margin (quarter, annualized)

2.01%-71 bps YoY

Efficiency Ratio (quarter, annualized)

107.89%+5,635 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009YoY ΔTrend
Earnings
Return on Assets0.33%-0.28%-0.29%-2.01%-20.73%-2,106 bps
Return on Equity4.00%-3.39%-3.53%-25.13%-360%-36,397 bps
Net Interest Margin2.71%2.29%2.34%2.48%2.01%-71 bps
Efficiency Ratio51.54%91.45%69.24%63.17%107.89%+5,635 bps
Non-Interest Burden1.33%2.14%1.58%1.51%2.18%+85 bps
Growth
Asset Growth (YoY)39.32%22.29%15.13%1.81%-12.26%-5,158 bps
Loan Growth (YoY)40.12%21.60%11.58%-0.94%-6.07%-4,620 bps
Deposit Growth (YoY)37.52%20.08%18.92%4.75%-7.24%-4,476 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.19%1.26%1.78%1.86%13.30%+1,212 bps
Allowance / Loans1.81%1.74%1.74%2.67%6.07%+427 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 Capital10.47%10.60%10.78%10.39%5.12%-534 bps
Equity / Assets8.24%8.10%8.15%7.83%3.41%-483 bps
Liquidity & Funding
Loans / Deposits101.23%99.16%97.06%94.82%102.50%+127 bps
Liquid Assets / Assets0.50%0.49%0.50%0.50%2.37%+187 bps
CRE / Total Capitaln/an/an/an/an/an/an/a