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America West Bank

Layton, UT · Cert 35461

FDIC

Q1 2009

$281.6MAssets
$226.8MLoans
$286.0MDeposits
$-6011KEquity
Loan mix
88%RE $197.1M12%C&I $27.1M0%Consumer $0.2MQ1 2008Q1 2009
Deposit mix
98%Interest-bearing $280.4M2%Noninterest $5.7MQ1 2008Q1 2009

NIM

10.64%Q1 ’078.82%Q1 ’085.89%Q1 ’09-28%-54%

Non-interest income vs. expense

2.41%Q1 ’072.06%Q1 ’082.99%Q1 ’09-8%+315%

Executive Summary

  • Earnings: ROA of -26.59%, down 2,764 bps year over year; NIM at 2.11%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 5.35%.
  • Funding: loans stand at 79.29% of deposits as of Q1 2009.

Financial Results

Return on Assets (quarter, annualized)

-26.59%-2,764 bps YoY

Net Interest Margin (quarter, annualized)

2.11%-243 bps YoY

Efficiency Ratio (quarter, annualized)

n/a

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009YoY ΔTrend
Earnings
Return on Assets1.04%-0.21%-3.41%-11.96%-26.59%-2,764 bps
Return on Equity11.71%-2.30%-44.08%-211%-2274%-228,561 bps
Net Interest Margin4.54%3.83%2.19%1.63%2.11%-243 bps
Efficiency Ratio43.25%54.54%88.12%212%n/an/a
Non-Interest Burden1.84%1.90%1.88%2.92%7.64%+580 bps
Growth
Asset Growth (YoY)39.86%34.63%36.76%10.49%-3.03%-4,289 bps
Loan Growth (YoY)46.69%29.35%17.87%-5.80%-15.56%-6,225 bps
Deposit Growth (YoY)40.28%36.39%40.17%15.97%9.49%-3,079 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.20%2.26%3.33%9.00%5.35%+414 bps
Allowance / Loans1.14%1.21%1.59%2.84%8.38%+724 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 Capital11.30%11.20%10.45%7.03%-3.00%-1,430 bps
Equity / Assets9.30%8.54%7.00%4.28%-2.13%-1,144 bps
Liquidity & Funding
Loans / Deposits102.80%97.19%85.69%83.59%79.29%-2,352 bps
Liquid Assets / Assets0.87%0.84%0.71%0.35%2.70%+184 bps
CRE / Total Capitaln/an/an/an/an/an/an/a