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Fortune Bank

Seattle, WA · Cert 58437

FDIC

Q3 2013

$143.6MAssets
$106.5MLoans
$123.9MDeposits
$19.3MEquity
Loan mix
63%RE $53.8M36%C&I $30.5M0%Consumer $0.4MQ3 2012Q3 2013
Deposit mix
66%Interest-bearing $82.2M34%Noninterest $41.8MQ3 2012Q3 2013

NIM

4.17%Q3 ’114.89%Q3 ’123.89%Q3 ’13+30%-19%

Non-interest income vs. expense

3.74%Q3 ’115.19%Q3 ’124.05%Q3 ’13+30%-7%

Executive Summary

  • Earnings: ROA of 0.14%, down 55 bps year over year; NIM at 3.65%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 85.90% of deposits as of Q3 2013.

Financial Results

Return on Assets (quarter, annualized)

0.14%-55 bps YoY

Net Interest Margin (quarter, annualized)

3.65%-84 bps YoY

Efficiency Ratio (quarter, annualized)

96.67%+879 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2012Q4 2012Q1 2013Q2 2013Q3 2013YoY ΔTrend
Earnings
Return on Assets0.69%0.24%7.31%0.14%0.14%-55 bps
Return on Equity5.65%2.01%58.15%1.06%1.02%-463 bps
Net Interest Margin4.50%3.72%3.62%3.47%3.65%-84 bps
Efficiency Ratio87.89%82.34%93.25%96.66%96.67%+879 bps
Non-Interest Burden3.78%2.83%3.31%3.33%3.51%-27 bps
Growth
Asset Growth (YoY)-11.83%0.92%5.20%6.19%6.30%+1,813 bps
Loan Growth (YoY)0.98%4.79%5.17%3.31%2.40%+141 bps
Deposit Growth (YoY)-13.98%0.70%2.87%3.80%5.12%+1,910 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.87%2.18%0.40%1.09%0.00%+87 bps
Allowance / Loans1.74%1.57%1.53%1.34%1.30%-43 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 Capital17.79%17.22%17.15%16.74%16.04%-175 bps
Equity / Assets12.20%11.55%13.61%13.62%13.45%+125 bps
Liquidity & Funding
Loans / Deposits88.19%86.88%89.79%85.76%85.90%-229 bps
Liquid Assets / Assets14.36%16.45%13.89%12.68%0.88%-1,348 bps
CRE / Total Capitaln/an/an/an/an/an/an/a