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Silver Falls Bank

Silverton, OR · Cert 35399

FDIC

Q4 2008

$134.2MAssets
$114.0MLoans
$116.0MDeposits
$2.9MEquity
Loan mix
96%RE $97.5M4%C&I $3.9M0%Consumer $0.1MQ4 2007Q4 2008
Deposit mix
93%Interest-bearing $107.4M7%Noninterest $8.6MQ4 2007Q4 2008

NIM

9.88%Q4 ’069.23%Q4 ’075.10%Q4 ’08-17%-60%

Non-interest income vs. expense

3.54%Q4 ’062.84%Q4 ’074.33%Q4 ’08-17%+49%

Executive Summary

  • Earnings: ROA of -17.50%, down 1,888 bps year over year; NIM at 2.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 7.85%.
  • Funding: loans stand at 98.27% of deposits as of Q4 2008.

Financial Results

Return on Assets (quarter, annualized)

-17.50%-1,888 bps YoY

Net Interest Margin (quarter, annualized)

2.09%-310 bps YoY

Efficiency Ratio (quarter, annualized)

165.11%+11,324 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.39%-1.04%0.16%-7.27%-17.50%-1,888 bps
Return on Equity15.91%-12.45%2.02%-103.89%-413%-42,859 bps
Net Interest Margin5.19%4.82%4.42%3.04%2.09%-310 bps
Efficiency Ratio51.88%57.57%56.38%99.27%165.11%+11,324 bps
Non-Interest Burden2.56%2.67%2.39%3.02%3.80%+124 bps
Growth
Asset Growth (YoY)39.73%31.29%19.09%12.28%-3.60%-4,333 bps
Loan Growth (YoY)41.81%31.60%18.28%3.76%-13.10%-5,492 bps
Deposit Growth (YoY)35.57%27.70%26.21%20.52%5.82%-2,975 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.66%0.67%1.44%7.96%7.85%+720 bps
Allowance / Loans1.17%1.65%1.70%3.70%6.77%+560 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 Capital10.22%9.66%9.27%8.11%3.87%-634 bps
Equity / Assets8.62%8.10%7.84%6.15%2.15%-647 bps
Liquidity & Funding
Loans / Deposits119.67%115.12%115.28%105.20%98.27%-2,140 bps
Liquid Assets / Assets0.17%0.37%0.36%0.16%0.18%+1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a