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Letter portraitLegal landscapeQuarterYTD

Heritage Bank South Valley

Morgan Hill, CA · Cert 35300

FDIC

Q4 2002

$73.1MAssets
$58.3MLoans
$64.0MDeposits
$7.2MEquity
Loan mix
27%RE $3.5M72%C&I $9.3M1%Consumer $0.1MQ4 2001Q4 2002
Deposit mix
88%Interest-bearing $56.6M12%Noninterest $7.4MQ4 2001Q4 2002

NIM

8.89%Q1 ’016.41%Q4 ’015.47%Q4 ’02-30%+12%

Non-interest income vs. expense

3.95%Q1 ’013.38%Q4 ’013.66%Q4 ’02-15%+6%

Executive Summary

  • Earnings: ROA of 0.04%, up 15 bps year over year; NIM at 3.77%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 91.07% of deposits as of Q4 2002.

Financial Results

Return on Assets (YTD, annualized)

0.04%1+15 bps YoY

Net Interest Margin (YTD, annualized)

3.77%+39 bps YoY

Efficiency Ratio (YTD, annualized)

91.48%-542 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets-0.11%-0.27%-0.19%-0.10%0.04%1+15 bps
Return on Equityn/a-2.74%-1.91%-1.01%0.35%n/a
Net Interest Margin3.38%3.40%3.62%3.67%3.77%+39 bps
Efficiency Ratio96.90%104.95%100.76%97.28%91.48%-542 bps
Non-Interest Burden3.27%3.62%3.70%3.61%3.48%+21 bps
Growth
Asset Growth (YoY)36.53%34.20%12.22%11.61%9.36%-2,717 bps
Loan Growth (YoY)23.20%21.14%23.10%-2.34%14.75%-845 bps
Deposit Growth (YoY)42.93%40.23%14.63%13.52%8.67%-3,425 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%0.00%0 bps
Allowance / Loans1.45%1.54%1.58%1.84%1.60%+15 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 Capital13.02%12.52%12.60%12.97%11.57%-144 bps
Equity / Assets10.54%9.46%10.41%9.45%9.79%-75 bps
Liquidity & Funding
Loans / Deposits86.25%76.54%86.90%70.82%91.07%+482 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a