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Letter portraitLegal landscapeQuarterYTD

Allegiance Direct Bank

Cedar City, UT · Cert 57962

FDIC

Q3 2010

$45.3MAssets
$26.5MLoans
$37.5MDeposits
$7.7MEquity
Deposit mix
73%Interest-bearing $27.4M27%Noninterest $10.2MQ3 2009Q3 2010

NIM

8.44%Q3 ’086.80%Q3 ’096.17%Q3 ’10-7%+2%

Non-interest income vs. expense

5.68%Q3 ’084.28%Q3 ’094.45%Q3 ’10-25%+3%

Executive Summary

  • Earnings: ROA of 0.50%, down 3 bps year over year; NIM at 5.15%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.07%.
  • Funding: loans stand at 70.75% of deposits as of Q3 2010.

Financial Results

Return on Assets (YTD, annualized)

0.50%-3 bps YoY

Net Interest Margin (YTD, annualized)

5.15%+9 bps YoY

Efficiency Ratio (YTD, annualized)

83.98%+119 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets0.54%0.53%0.39%0.45%0.50%-3 bps
Return on Equity3.66%3.69%2.84%3.12%3.39%-27 bps
Net Interest Margin5.07%5.40%4.59%4.87%5.15%+9 bps
Efficiency Ratio82.79%83.23%85.31%85.33%83.98%+119 bps
Non-Interest Burden4.18%4.47%3.89%4.14%4.30%+13 bps
Growth
Asset Growth (YoY)0.89%12.36%-3.60%-17.92%-23.09%-2,398 bps
Loan Growth (YoY)-7.53%-10.06%-21.87%-22.89%-14.27%-674 bps
Deposit Growth (YoY)1.68%17.27%-2.05%-19.02%-26.69%-2,837 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.21%0.25%0.14%0.08%0.07%-14 bps
Allowance / Loans0.21%0.21%0.24%0.19%0.19%-2 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 Capital19.46%21.21%23.01%25.66%24.64%+519 bps
Equity / Assets12.54%13.76%13.69%15.62%16.89%+435 bps
Liquidity & Funding
Loans / Deposits60.50%61.31%53.69%65.70%70.75%+1,025 bps
Liquid Assets / Assets33.46%35.84%41.63%35.88%5.94%-2,752 bps
CRE / Total Capitaln/an/an/an/an/an/an/a