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Commercefirst Bank

Annapolis, MD · Cert 35475

FDIC

Q1 2012

$204.8MAssets
$180.1MLoans
$180.2MDeposits
$23.5MEquity
Deposit mix
84%Interest-bearing $151.0M16%Noninterest $29.2MQ1 2011Q1 2012

NIM

6.10%Q1 ’106.04%Q1 ’115.88%Q1 ’12+13%+4%

Non-interest income vs. expense

2.41%Q1 ’102.86%Q1 ’112.59%Q1 ’12+19%+6%

Executive Summary

  • Earnings: ROA of 1.09%, up 16 bps year over year; NIM at 5.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.34%.
  • Funding: loans stand at 99.95% of deposits as of Q1 2012.

Financial Results

Return on Assets (YTD, annualized)

1.09%+16 bps YoY

Net Interest Margin (YTD, annualized)

5.13%+20 bps YoY

Efficiency Ratio (YTD, annualized)

46.95%-305 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2011Q2 2011Q3 2011Q4 2011Q1 2012YoY ΔTrend
Earnings
Return on Assets0.93%0.93%0.95%0.95%1.09%+16 bps
Return on Equity9.00%8.97%9.07%8.94%9.69%+69 bps
Net Interest Margin4.92%4.81%4.85%4.83%5.13%+20 bps
Efficiency Ratio50.00%49.72%49.12%49.20%46.95%-305 bps
Non-Interest Burden2.07%2.06%2.08%2.10%2.19%+13 bps
Growth
Asset Growth (YoY)-3.34%-0.06%-0.58%2.01%-0.82%+252 bps
Loan Growth (YoY)1.52%-2.72%-2.10%-0.32%-4.02%-554 bps
Deposit Growth (YoY)-4.42%-0.80%-1.52%1.24%-2.08%+233 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.57%1.23%1.50%1.45%0.34%-23 bps
Allowance / Loans1.91%1.87%1.68%1.65%1.92%+1 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 Capital12.40%13.08%13.37%13.33%13.95%+155 bps
Equity / Assets10.38%10.41%10.95%11.06%11.46%+108 bps
Liquidity & Funding
Loans / Deposits101.97%96.08%99.52%100.27%99.95%-202 bps
Liquid Assets / Assets6.06%11.25%8.82%7.55%8.95%+289 bps
CRE / Total Capitaln/an/an/an/an/an/an/a