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Sunfirst Bank

Saint George, UT · Cert 57087

FDIC

Q3 2011

$198.1MAssets
$120.7MLoans
$169.1MDeposits
$12.7MEquity
Loan mix
81%RE $87.0M18%C&I $20.0M1%Consumer $1.0MQ3 2010Q3 2011
Deposit mix
83%Interest-bearing $140.9M17%Noninterest $28.2MQ3 2010Q3 2011

NIM

4.67%Q3 ’094.36%Q3 ’103.67%Q3 ’11+18%-10%

Non-interest income vs. expense

2.40%Q3 ’093.24%Q3 ’103.04%Q3 ’11+46%+14%

Executive Summary

  • Earnings: ROA of -4.70%, down 175 bps year over year; NIM at 2.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 7.59%.
  • Funding: loans stand at 71.35% of deposits as of Q3 2011.

Financial Results

Return on Assets (YTD, annualized)

-4.70%-175 bps YoY

Net Interest Margin (YTD, annualized)

2.39%-28 bps YoY

Efficiency Ratio (YTD, annualized)

202%+7,014 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets-2.95%-2.59%-1.97%-5.76%-4.70%-175 bps
Return on Equity-29.34%-26.53%-23.46%-74.23%-63.12%-3,378 bps
Net Interest Margin2.66%2.50%2.21%2.21%2.39%-28 bps
Efficiency Ratio132.20%144.37%236%125.43%202%+7,014 bps
Non-Interest Burden3.45%3.47%3.86%2.79%3.92%+47 bps
Growth
Asset Growth (YoY)-5.48%-5.76%-9.54%-6.02%-11.96%-648 bps
Loan Growth (YoY)-13.32%-20.16%-16.04%-18.80%-18.93%-562 bps
Deposit Growth (YoY)-6.88%-4.50%-7.85%-0.31%-8.13%-125 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans6.51%6.24%0.83%10.39%7.59%+108 bps
Allowance / Loans3.39%3.02%3.45%5.65%5.81%+242 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 Capital13.08%10.38%9.55%5.10%3.98%-910 bps
Equity / Assets9.14%8.57%8.18%6.46%6.40%-274 bps
Liquidity & Funding
Loans / Deposits80.86%74.08%73.60%69.65%71.35%-950 bps
Liquid Assets / Assets4.55%8.90%8.12%9.68%9.28%+472 bps
CRE / Total Capitaln/an/an/an/an/an/an/a