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Letter portraitLegal landscapeQuarterYTD

1st Choice Bank

Houston, TX · Cert 35048

FDIC

Q1 2008

$313.9MAssets
$198.9MLoans
$285.1MDeposits
$27.5MEquity
Loan mix
61%RE $84.1M39%C&I $53.3M0%Consumer $0.0MQ1 2007Q1 2008
Deposit mix
74%Interest-bearing $212.3M26%Noninterest $72.7MQ1 2007Q1 2008

NIM

6.49%Q1 ’066.83%Q1 ’076.30%Q1 ’08-8%-10%

Non-interest income vs. expense

2.14%Q1 ’061.82%Q1 ’072.89%Q1 ’08-13%+157%

Executive Summary

  • Earnings: ROA of -0.41%, down 191 bps year over year; NIM at 3.50%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 69.76% of deposits as of Q1 2008.

Financial Results

Return on Assets (YTD, annualized)

-0.41%-191 bps YoY

Net Interest Margin (YTD, annualized)

3.50%-39 bps YoY

Efficiency Ratio (YTD, annualized)

120.35%+7,647 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets1.51%1.55%1.54%1.57%-0.41%-191 bps
Return on Equity18.59%18.80%18.25%18.40%-4.58%-2,317 bps
Net Interest Margin3.88%3.93%3.94%3.88%3.50%-39 bps
Efficiency Ratio43.88%43.59%43.74%42.62%120.35%+7,647 bps
Non-Interest Burden1.55%1.57%1.59%1.52%3.98%+243 bps
Growth
Asset Growth (YoY)22.33%7.45%4.99%2.11%2.09%-2,024 bps
Loan Growth (YoY)7.28%10.70%9.93%9.67%10.18%+291 bps
Deposit Growth (YoY)22.23%6.15%3.44%0.93%1.54%-2,069 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%0.06%0.08%0.05%0.03%-7 bps
Allowance / Loans1.14%1.08%1.07%1.09%1.10%-5 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 Capital14.08%14.44%15.01%14.80%14.17%+9 bps
Equity / Assets8.16%8.49%9.05%9.04%8.75%+60 bps
Liquidity & Funding
Loans / Deposits64.28%68.52%69.60%70.40%69.76%+547 bps
Liquid Assets / Assets0.19%0.19%0.19%0.19%0.19%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a