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Wells Fargo Bank Nebraska, National Association

Omaha, NE · Cert 5457

FDIC

Q3 2003

$3.6BAssets
$1.5BLoans
$3.0BDeposits
$466.1MEquity
Loan mix
69%RE $358.5M27%C&I $140.7M4%Consumer $20.3MQ3 2002Q3 2003
Deposit mix
69%Interest-bearing $2.0B31%Noninterest $0.9BQ3 2002Q3 2003

NIM

5.69%Q3 ’013.99%Q3 ’022.51%Q3 ’03-19%-34%

Non-interest income vs. expense

4.16%Q3 ’013.52%Q3 ’023.60%Q3 ’03-24%+16%

Executive Summary

  • Earnings: ROA of -0.06%, down 82 bps year over year; NIM at 1.88%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Funding: loans stand at 50.47% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

-0.06%-82 bps YoY

Net Interest Margin (quarter, annualized)

1.88%-97 bps YoY

Efficiency Ratio (quarter, annualized)

103.51%+2,794 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets0.76%0.30%10.65%0.25%-0.06%-82 bps
Return on Equity5.40%2.21%4.75%1.85%-0.48%-588 bps
Net Interest Margin2.85%2.65%2.34%2.06%1.88%-97 bps
Efficiency Ratio75.57%89.07%78.74%91.13%103.51%+2,794 bps
Non-Interest Burden1.74%2.20%1.39%1.73%2.02%+29 bps
Growth
Asset Growth (YoY)-2.87%0.27%-2.62%0.79%-5.34%-247 bps
Loan Growth (YoY)-24.64%-23.29%-23.40%-16.95%-19.12%+551 bps
Deposit Growth (YoY)0.12%4.86%-0.87%4.93%-2.22%-234 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.20%0.50%0.12%0.14%0.11%-9 bps
Allowance / Loans1.92%1.97%2.05%2.21%2.33%+40 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 Capital18.62%17.85%19.91%20.24%19.00%+38 bps
Equity / Assets13.91%13.22%13.98%13.51%12.89%-102 bps
Liquidity & Funding
Loans / Deposits61.02%56.64%56.86%52.08%50.47%-1,055 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a