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Marinerbank

Port Townsend, WA · Cert 57499

FDIC

Q3 2006

$54.0MAssets
$40.6MLoans
$46.1MDeposits
$6.7MEquity
Loan mix
47%RE $5.9M51%C&I $6.4M1%Consumer $0.2MQ3 2005Q3 2006
Deposit mix
80%Interest-bearing $37.0M20%Noninterest $9.1MQ3 2005Q3 2006

NIM

5.49%Q3 ’046.26%Q3 ’056.68%Q3 ’06+6%-6%

Non-interest income vs. expense

4.08%Q3 ’043.49%Q3 ’053.47%Q3 ’06-15%-1%

Executive Summary

  • Earnings: ROA of 0.88%, down 46 bps year over year; NIM at 4.62%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 87.95% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

0.88%-46 bps YoY

Net Interest Margin (YTD, annualized)

4.62%-31 bps YoY

Efficiency Ratio (YTD, annualized)

73.38%+376 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets1.34%1.24%0.99%0.87%0.88%-46 bps
Return on Equity10.07%9.43%7.63%6.77%6.88%-319 bps
Net Interest Margin4.93%4.92%4.93%4.98%4.62%-31 bps
Efficiency Ratio69.62%72.34%70.81%72.19%73.38%+376 bps
Non-Interest Burden3.40%3.54%3.46%3.56%3.36%-4 bps
Growth
Asset Growth (YoY)42.67%33.71%14.00%9.58%7.88%-3,479 bps
Loan Growth (YoY)29.46%14.71%24.39%22.15%16.91%-1,255 bps
Deposit Growth (YoY)45.48%43.67%14.77%9.48%7.55%-3,793 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.03%0.00%0.00%0.00%-3 bps
Allowance / Loans1.00%1.00%1.00%1.00%1.04%+3 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 Capital16.88%16.75%16.25%15.25%15.88%-100 bps
Equity / Assets12.19%12.68%13.29%12.64%12.36%+17 bps
Liquidity & Funding
Loans / Deposits80.91%83.45%91.99%95.77%87.95%+704 bps
Liquid Assets / Assets0.01%0.06%0.06%0.11%0.06%+5 bps
CRE / Total Capitaln/an/an/an/an/an/an/a