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Firstbank of El Paso County

Colorado Springs, CO · Cert 35275

FDIC

Q3 2010

$158.6MAssets
$83.9MLoans
$144.5MDeposits
$13.0MEquity
Loan mix
98%RE $76.7M2%C&I $1.2M1%Consumer $0.5MQ3 2009Q3 2010
Deposit mix
85%Interest-bearing $122.3M15%Noninterest $22.2MQ3 2009Q3 2010

NIM

5.43%Q3 ’085.29%Q3 ’095.12%Q3 ’10+18%+5%

Non-interest income vs. expense

3.41%Q3 ’083.63%Q3 ’093.95%Q3 ’10+30%+10%

Executive Summary

  • Earnings: ROA of 1.17%, down 51 bps year over year; NIM at 4.52%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.13%.
  • Funding: loans stand at 58.06% of deposits as of Q3 2010.

Financial Results

Return on Assets (quarter, annualized)

1.17%-51 bps YoY

Net Interest Margin (quarter, annualized)

4.52%+22 bps YoY

Efficiency Ratio (quarter, annualized)

62.80%+174 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets1.67%1.36%1.05%1.44%1.17%-51 bps
Return on Equity23.19%17.79%13.48%17.84%14.22%-897 bps
Net Interest Margin4.30%4.33%4.41%4.45%4.52%+22 bps
Efficiency Ratio61.05%66.99%61.59%64.89%62.80%+174 bps
Non-Interest Burden1.98%2.32%2.11%2.32%2.18%+20 bps
Growth
Asset Growth (YoY)0.40%2.17%1.93%-1.72%2.91%+251 bps
Loan Growth (YoY)11.92%12.40%16.16%7.54%14.20%+228 bps
Deposit Growth (YoY)9.74%15.22%6.98%3.26%5.60%-414 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.14%0.14%0.08%0.11%0.13%-1 bps
Allowance / Loans1.51%1.51%1.85%1.90%2.18%+67 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 Capital15.60%15.72%15.99%16.52%16.34%+73 bps
Equity / Assets7.67%7.64%7.93%8.25%8.17%+50 bps
Liquidity & Funding
Loans / Deposits53.69%52.29%56.76%57.42%58.06%+437 bps
Liquid Assets / Assets30.34%27.92%27.05%26.19%24.19%-615 bps
CRE / Total Capitaln/an/an/an/an/an/an/a