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South Sound Bank

Olympia, WA · Cert 35355

FDIC · 2 branches

Q3 2018

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q3 2018, the quarter ended September 30, 2018, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

South Sound Bank

Olympia, WA · Cert 35355

FDIC · 2 branches

Q3 2018

$178.3MAssets
$123.4MLoans
$151.4MDeposits
$23.8MEquity
Loan mix
77%RE $67.4M22%C&I $19.5M1%Consumer $1.1MQ3 2017Q3 2018
Deposit mix
69%Interest-bearing $103.9M31%Noninterest $47.5MQ3 2017Q3 2018

NIM

3.90%Q3 ’164.09%Q3 ’174.32%Q3 ’18+4%+5%

Non-interest income vs. expense

2.96%Q3 ’162.66%Q3 ’174.20%Q3 ’18-6%+61%

Market Position · Olympia-Tumwater, WA · 2018 SOD (annual) · 3.9% share · #10 of 18 inst. · $0.2B of $3.9B

Executive Summary

  • Earnings: ROA of 0.15%, down 79 bps year over year; NIM at 4.03%.
  • Asset quality: problem loans at 0.13% of loans (-65 bps YoY), with net recoveries of 0.09%.
  • Capital: tier 1 leverage ratio of 13.60%, up 16 bps from a year ago.
  • Funding: loans stand at 81.48% of deposits as of Q3 2018.

Financial Results

Return on Assets (YTD, annualized)

0.15%-79 bps YoY

Net Interest Margin (YTD, annualized)

4.03%+19 bps YoY

Efficiency Ratio (YTD, annualized)

95.70%+3,087 bps YoY

Tier 1 Leverage Ratio

13.60%+16 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2017Q4 2017Q1 2018Q2 2018Q3 2018YoY ΔTrend
Earnings
Return on Assets0.94%0.81%1.00%1.13%0.15%-79 bps
Return on Equity6.83%5.89%7.40%8.38%1.14%-570 bps
Net Interest Margin3.84%3.88%3.97%3.89%4.03%+19 bps
Efficiency Ratio64.83%66.80%69.59%66.57%95.70%+3,087 bps
Non-Interest Burden2.39%2.50%2.66%2.44%3.83%+145 bps
Growth
Asset Growth (YoY)5.52%3.70%13.14%1.71%3.94%-159 bps
Loan Growth (YoY)2.87%-0.84%-2.04%4.65%5.07%+220 bps
Deposit Growth (YoY)5.67%3.46%14.87%1.20%3.85%-182 bps
Asset Quality
Nonperforming Loans / Loans0.78%0.10%0.10%0.11%0.13%-65 bps
Net Charge-Offs / Loans0.40%0.09%-0.08%-0.09%-0.09%-49 bps
Allowance / Loans1.46%1.59%1.64%1.61%1.65%+19 bps
Allowance Coverage of NPLs1.9x15.7x16.1x15.2x13.0x+11.1x
Capital
Tier 1 Leverage Ratio13.44%13.74%14.21%13.85%13.60%+16 bps
Total Risk-Based Capital18.51%17.93%18.91%18.84%18.46%-5 bps
Equity / Assets13.90%14.03%12.93%13.57%13.33%-58 bps
Liquidity & Funding
Loans / Deposits80.53%84.60%75.10%80.26%81.48%+94 bps
Liquid Assets / Assets4.17%4.40%4.07%3.83%3.53%-64 bps
CRE / Total Capitaln/an/an/an/an/an/an/a