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Choice Bank

Scottsdale, AZ · Cert 57469

FDIC

Q1 2008

$287.6MAssets
$229.6MLoans
$211.3MDeposits
$39.6MEquity
Deposit mix
94%Interest-bearing $197.8M6%Noninterest $13.5MQ1 2007Q1 2008

NIM

7.35%Q1 ’067.94%Q1 ’077.50%Q1 ’08-11%-10%

Non-interest income vs. expense

4.07%Q1 ’063.57%Q1 ’072.93%Q1 ’08+6%-7%

Executive Summary

  • Earnings: ROA of -0.56%, down 121 bps year over year; NIM at 3.73%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.08%.
  • Funding: loans stand at 108.63% of deposits as of Q1 2008.

Financial Results

Return on Assets (quarter, annualized)

-0.56%-121 bps YoY

Net Interest Margin (quarter, annualized)

3.73%-40 bps YoY

Efficiency Ratio (quarter, annualized)

68.35%-316 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets0.65%0.56%0.89%1.17%-0.56%-121 bps
Return on Equity3.62%3.18%5.15%7.42%-3.89%-752 bps
Net Interest Margin4.12%4.67%5.41%4.79%3.73%-40 bps
Efficiency Ratio71.52%68.26%60.79%56.30%68.35%-316 bps
Non-Interest Burden2.70%2.97%3.07%2.57%2.51%-19 bps
Growth
Asset Growth (YoY)76.20%91.21%50.26%59.55%54.70%-2,150 bps
Loan Growth (YoY)90.40%78.74%93.60%68.01%55.91%-3,450 bps
Deposit Growth (YoY)47.71%63.80%39.67%66.28%53.78%+607 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%0.08%+8 bps
Allowance / Loans0.69%0.81%0.93%1.09%1.60%+91 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 Capital9.68%11.88%10.76%10.95%10.36%+68 bps
Equity / Assets17.12%18.02%16.75%14.91%13.77%-335 bps
Liquidity & Funding
Loans / Deposits107.15%112.96%119.79%96.50%108.63%+148 bps
Liquid Assets / Assets0.05%0.03%0.11%0.06%0.12%+6 bps
CRE / Total Capitaln/an/an/an/an/an/an/a