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Lehman Brothers Commercial Bank

Salt Lake City, UT · Cert 58009

FDIC

Q3 2011

$1.6BAssets
$452.7MLoans
$650.5MDeposits
$887.8MEquity
Deposit mix
100%Interest-bearing $650.5M0%Noninterest $0.0MQ3 2010Q3 2011

NIM

2.35%Q3 ’091.71%Q3 ’101.15%Q3 ’11+12%+52%

Non-interest income vs. expense

-0.66%Q3 ’09-1.09%Q3 ’10-0.99%Q3 ’11+80%+84%

Executive Summary

  • Earnings: ROA of -0.40%, down 62 bps year over year; NIM at -0.51%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 69.59% of deposits as of Q3 2011.

Financial Results

Return on Assets (quarter, annualized)

-0.40%-62 bps YoY

Net Interest Margin (quarter, annualized)

-0.51%+56 bps YoY

Efficiency Ratio (quarter, annualized)

-34.10%+9,684 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets0.23%15.47%5.40%-1.20%-0.40%-62 bps
Return on Equity0.92%51.69%15.34%-3.09%-0.83%-175 bps
Net Interest Margin-1.08%-0.67%-0.52%-0.30%-0.51%+56 bps
Efficiency Ratio-130.94%-5.29%10.58%-3.55%-34.10%+9,684 bps
Non-Interest Burden-1.03%-16.12%-6.02%1.53%-0.17%+86 bps
Growth
Asset Growth (YoY)-19.59%-25.76%-18.90%-32.74%-44.88%-2,530 bps
Loan Growth (YoY)-34.49%-49.53%-49.04%-55.20%-67.08%-3,260 bps
Deposit Growth (YoY)-27.61%-36.51%-30.17%-47.26%-66.84%-3,923 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%0.00%0 bps
Allowance / Loans0.19%0.00%0.00%0.00%0.00%-19 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 Capital39.19%62.89%74.80%91.63%123.03%+8,384 bps
Equity / Assets26.57%33.67%36.84%41.19%56.54%+2,997 bps
Liquidity & Funding
Loans / Deposits70.11%57.60%57.66%58.53%69.59%-52 bps
Liquid Assets / Assets36.96%49.42%49.55%53.01%59.34%+2,238 bps
CRE / Total Capitaln/an/an/an/an/an/an/a