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Thurston First Bank

Olympia, WA · Cert 57862

FDIC · 1 branch

Q3 2016

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q3 2016, the quarter ended September 30, 2016, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Thurston First Bank

Olympia, WA · Cert 57862

FDIC · 1 branch

Q3 2016

$133.3MAssets
$76.5MLoans
$113.0MDeposits
$13.0MEquity
Deposit mix
68%Interest-bearing $76.3M32%Noninterest $36.7MQ3 2015Q3 2016

NIM

4.10%Q3 ’143.23%Q3 ’153.44%Q3 ’16-20%+9%

Non-interest income vs. expense

2.57%Q3 ’142.30%Q3 ’152.12%Q3 ’16-14%-9%

Market Position · Olympia-Tumwater, WA · 2016 SOD (annual) · 3.4% share · #12 of 18 inst. · $0.1B of $3.3B

Executive Summary

  • Earnings: ROA of 0.71%, up 27 bps year over year; NIM at 3.00%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.23%.
  • Capital: tier 1 leverage ratio of 9.59%, up 72 bps from a year ago.
  • Funding: loans stand at 67.68% of deposits as of Q3 2016.

Financial Results

Return on Assets (YTD, annualized)

0.71%+27 bps YoY

Net Interest Margin (YTD, annualized)

3.00%+23 bps YoY

Efficiency Ratio (YTD, annualized)

67.50%-1,194 bps YoY

Tier 1 Leverage Ratio

9.59%+72 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2015Q4 2015Q1 2016Q2 2016Q3 2016YoY ΔTrend
Earnings
Return on Assets0.44%0.42%0.65%0.68%0.71%+27 bps
Return on Equity4.59%4.41%6.93%7.25%7.45%+286 bps
Net Interest Margin2.76%2.72%3.16%3.07%3.00%+23 bps
Efficiency Ratio79.44%80.25%71.38%68.88%67.50%-1,194 bps
Non-Interest Burden2.16%2.15%2.21%2.07%1.97%-18 bps
Growth
Asset Growth (YoY)14.76%12.31%9.68%8.52%0.29%-1,446 bps
Loan Growth (YoY)-4.37%2.50%7.93%7.68%12.68%+1,705 bps
Deposit Growth (YoY)17.61%12.66%12.83%9.68%-2.07%-1,968 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%-0.01%-0.03%-0.42%-0.23%-33 bps
Allowance / Loans1.31%1.31%1.25%1.49%1.41%+10 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio8.87%8.81%9.17%9.44%9.59%+72 bps
Total Risk-Based Capital23.42%21.78%21.15%23.21%22.81%-61 bps
Equity / Assets9.13%9.07%9.57%9.59%9.78%+64 bps
Liquidity & Funding
Loans / Deposits58.82%63.02%66.50%64.06%67.68%+886 bps
Liquid Assets / Assets31.92%30.03%26.18%35.44%33.94%+202 bps
CRE / Total Capitaln/an/an/an/an/an/an/a