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Landmark National Bank

Solana Beach, CA · Cert 57324

FDIC

Q2 2007

$100.3MAssets
$73.5MLoans
$81.8MDeposits
$17.6MEquity
Loan mix
72%RE $40.1M28%C&I $15.6M0%Consumer $0.1MQ2 2006Q2 2007
Deposit mix
66%Interest-bearing $54.3M34%Noninterest $27.5MQ2 2006Q2 2007

NIM

6.16%Q2 ’057.22%Q2 ’067.20%Q2 ’07+10%-4%

Non-interest income vs. expense

4.49%Q2 ’054.78%Q2 ’068.40%Q2 ’07+14%+76%

Executive Summary

  • Earnings: ROA of -3.02%, down 375 bps year over year; NIM at 5.12%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.32%.
  • Funding: loans stand at 89.83% of deposits as of Q2 2007.

Financial Results

Return on Assets (quarter, annualized)

-3.02%-375 bps YoY

Net Interest Margin (quarter, annualized)

5.12%-22 bps YoY

Efficiency Ratio (quarter, annualized)

154.34%+6,805 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets0.73%0.74%0.76%0.09%-3.02%-375 bps
Return on Equity5.38%5.23%5.25%0.58%-18.26%-2,364 bps
Net Interest Margin5.34%5.02%5.02%4.86%5.12%-22 bps
Efficiency Ratio86.29%85.82%84.85%98.28%154.34%+6,805 bps
Non-Interest Burden4.58%4.28%4.23%4.77%8.08%+350 bps
Growth
Asset Growth (YoY)56.91%-7.05%0.55%-7.51%-21.47%-7,838 bps
Loan Growth (YoY)52.31%-9.27%-12.33%-12.55%-20.61%-7,292 bps
Deposit Growth (YoY)33.91%-7.04%-1.99%-8.95%-18.12%-5,203 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.32%+31 bps
Allowance / Loans1.17%1.29%1.43%1.43%1.40%+23 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 Capital12.39%14.10%15.24%15.99%15.93%+354 bps
Equity / Assets13.27%14.97%14.20%15.71%17.53%+426 bps
Liquidity & Funding
Loans / Deposits92.65%88.97%74.11%82.62%89.83%-282 bps
Liquid Assets / Assets2.33%1.61%1.36%1.27%1.15%-118 bps
CRE / Total Capitaln/an/an/an/an/an/an/a