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First Western Bank, The

Wall, SD · Cert 488

FDIC

Q2 2009

$572.1MAssets
$343.7MLoans
$420.5MDeposits
$137.9MEquity
Loan mix
78%RE $165.2M21%C&I $45.1M0%Consumer $1.0MQ2 2008Q2 2009
Deposit mix
83%Interest-bearing $349.7M17%Noninterest $70.8MQ2 2008Q2 2009

NIM

6.97%Q2 ’075.18%Q2 ’084.27%Q2 ’09-13%-15%

Non-interest income vs. expense

1.93%Q2 ’072.35%Q2 ’082.83%Q2 ’09+30%+24%

Executive Summary

  • Earnings: ROA of -0.10%, down 100 bps year over year; NIM at 2.86%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 81.75% of deposits as of Q2 2009.

Financial Results

Return on Assets (quarter, annualized)

-0.10%-100 bps YoY

Net Interest Margin (quarter, annualized)

2.86%-51 bps YoY

Efficiency Ratio (quarter, annualized)

78.61%+2,345 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2008Q3 2008Q4 2008Q1 2009Q2 2009YoY ΔTrend
Earnings
Return on Assets0.90%0.30%0.04%0.19%-0.10%-100 bps
Return on Equity3.80%1.23%0.16%0.79%-0.42%-421 bps
Net Interest Margin3.36%3.38%2.74%2.68%2.86%-51 bps
Efficiency Ratio55.16%78.40%48.21%68.42%78.61%+2,345 bps
Non-Interest Burden1.90%2.78%0.56%1.92%2.35%+45 bps
Growth
Asset Growth (YoY)15.13%9.07%12.96%-4.70%0.55%-1,458 bps
Loan Growth (YoY)-4.88%-6.17%-9.78%-12.80%-11.89%-701 bps
Deposit Growth (YoY)-5.97%-11.46%-6.84%-6.76%2.02%+799 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%0.02%2.18%0.67%0.00%+2 bps
Allowance / Loans2.19%2.30%2.68%2.86%3.23%+104 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 Capital11.28%11.55%12.13%13.19%13.71%+243 bps
Equity / Assets24.15%24.19%24.19%24.61%24.11%-4 bps
Liquidity & Funding
Loans / Deposits94.64%93.31%88.25%86.05%81.75%-1,290 bps
Liquid Assets / Assets0.08%0.08%0.08%0.08%0.12%+4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a