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Cit Online Bank

Salt Lake City, UT · Cert 35575

FDIC · 1 branch

Q2 2015

$21.9BAssets
$15.8BLoans
$17.3BDeposits
$2.8BEquity
Deposit mix
100%Interest-bearing $17.2B0%Noninterest $0.1BQ2 2014Q2 2015

NIM

3.95%Q2 ’133.93%Q2 ’143.79%Q2 ’15+0%-11%

Non-interest income vs. expense

2.66%Q2 ’132.44%Q2 ’142.75%Q2 ’15-22%+56%

Market Position · Salt Lake City, UT · 2015 SOD (annual) · 3.5% share · #9 of 44 inst. · $17.3B of $489.3B

Executive Summary

  • Earnings: ROA of 0.69%, down 25 bps year over year; NIM at 2.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.61%.
  • Funding: loans stand at 91.49% of deposits as of Q2 2015.

Financial Results

Return on Assets (quarter, annualized)

0.69%-25 bps YoY

Net Interest Margin (quarter, annualized)

2.35%-30 bps YoY

Efficiency Ratio (quarter, annualized)

67.15%+1,217 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2014Q3 2014Q4 2014Q1 2015Q2 2015YoY ΔTrend
Earnings
Return on Assets0.95%0.34%0.62%0.66%0.69%-25 bps
Return on Equity6.25%2.45%4.79%5.13%5.45%-81 bps
Net Interest Margin2.65%2.48%2.41%2.30%2.35%-30 bps
Efficiency Ratio54.99%69.62%65.36%58.27%67.15%+1,217 bps
Non-Interest Burden0.65%1.22%0.86%0.58%1.02%+36 bps
Growth
Asset Growth (YoY)31.76%38.61%30.90%28.02%19.88%-1,188 bps
Loan Growth (YoY)31.73%34.97%23.64%19.79%17.62%-1,411 bps
Deposit Growth (YoY)24.81%22.47%27.06%28.00%24.89%+8 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.20%0.30%0.27%0.40%0.61%+41 bps
Allowance / Loansn/an/an/an/an/an/an/a
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 Capital16.46%14.28%14.23%13.72%13.81%-265 bps
Equity / Assetsn/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits97.14%102.21%94.51%90.22%91.49%-565 bps
Liquid Assets / Assets1.40%1.29%1.29%1.27%1.24%-16 bps
CRE / Total Capitaln/an/an/an/an/an/an/a