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Valley Republic Bank

Bakersfield, CA · Cert 58828

FDIC · 4 branches

Q4 2021

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: Q4 2021, the quarter ended December 31, 2021, 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

Valley Republic Bank

Bakersfield, CA · Cert 58828

FDIC · 4 branches

Q4 2021

$1.4BAssets
$829.2MLoans
$1.2BDeposits
$145.6MEquity
Loan mix
64%RE $350.4M36%C&I $198.0M0%Consumer $1.3MQ4 2020Q4 2021
Deposit mix
65%Interest-bearing $796.9M35%Noninterest $422.7MQ4 2020Q4 2021

NIM

3.74%Q4 ’193.03%Q4 ’203.14%Q4 ’21-7%+7%

Non-interest income vs. expense

1.77%Q4 ’191.37%Q4 ’201.36%Q4 ’21-25%-2%

Market Position · Bakersfield, CA · 2021 SOD (annual) · 10.1% share · #4 of 18 inst. · $1.2B of $12.0B

Executive Summary

  • Earnings: ROA of 1.38%, up 14 bps year over year; NIM at 3.02%.
  • Asset quality: problem loans at 0.27% of loans (+14 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.20%, down 26 bps from a year ago.
  • Funding: loans stand at 67.99% of deposits as of Q4 2021.

Financial Results

Return on Assets (YTD, annualized)

1.38%+14 bps YoY

Net Interest Margin (YTD, annualized)

3.02%+20 bps YoY

Efficiency Ratio (YTD, annualized)

42.15%-318 bps YoY

Tier 1 Leverage Ratio

10.20%-26 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2020Q1 2021Q2 2021Q3 2021Q4 2021YoY ΔTrend
Earnings
Return on Assets1.24%1.28%1.39%1.33%1.38%+14 bps
Return on Equity12.38%12.58%13.59%12.99%13.45%+106 bps
Net Interest Margin2.82%3.11%3.08%2.92%3.02%+20 bps
Efficiency Ratio45.33%41.26%39.76%41.06%42.15%-318 bps
Non-Interest Burden1.17%1.19%1.10%1.09%1.15%-2 bps
Growth
Asset Growth (YoY)31.57%41.28%11.99%18.12%11.62%-1,995 bps
Loan Growth (YoY)35.93%53.81%5.41%2.42%-2.36%-3,829 bps
Deposit Growth (YoY)30.75%42.36%14.41%20.07%12.24%-1,850 bps
Asset Quality
Nonperforming Loans / Loans0.13%0.11%0.26%0.26%0.27%+14 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.25%1.11%1.23%1.26%1.34%+9 bps
Allowance Coverage of NPLs9.5x10.1x4.7x4.8x4.9x-4.6x
Capital
Tier 1 Leverage Ratio10.45%10.39%10.10%10.13%10.20%-26 bps
Total Risk-Based Capital10.45%10.39%10.10%10.13%10.20%-26 bps
Equity / Assets10.60%9.84%10.24%10.18%10.56%-4 bps
Liquidity & Funding
Loans / Deposits78.16%82.33%74.49%70.60%67.99%-1,017 bps
Liquid Assets / Assets10.87%8.55%12.91%17.58%20.39%+952 bps
CRE / Total Capitaln/an/an/an/an/an/an/a