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America First

Ogden, UT · Charter 60069

Q1 2003

$2.6BAssets
$1.9BLoans
$2.3BShares
$266.8MNet Worth

NIM

NIM decomposition not available for credit unions

Non-interest income vs. expense

Non-interest trend not available for credit unions

Executive Summary

  • Earnings: ROA of 0.85%, down 35 bps year over year; NIM at 2.90%.
  • Asset quality: problem loans at 0.57% of loans (-59 bps YoY).
  • Capital: net worth / assets of 10.26%, down 35 bps from a year ago.
  • Funding: loans stand at 81.47% of shares as of Q1 2003.

Financial Results

Return on Assets (quarter, annualized)

0.85%-35 bps YoY

Net Interest Margin (quarter, annualized)

2.90%-12 bps YoY

Efficiency Ratio (quarter, annualized)

69.56%+151 bps YoY

Net Worth / Assets

10.26%-35 bps YoY

Discrete quarter, annualized.

MetricQ1 2002Q2 2002Q3 2002Q4 2002Q1 2003YoY ΔTrend
Earnings
Return on Assets1.20%1.28%1.31%1.30%0.85%-35 bps
Return on Equity11.31%11.93%12.06%11.90%8.33%-298 bps
Net Interest Margin3.02%3.11%3.09%3.08%2.90%-12 bps
Efficiency Ratio68.05%67.52%67.93%67.53%69.56%+151 bps
Growth
Asset Growth (YoY)16.50%14.42%12.35%13.91%16.50%0 bps
Loan Growth (YoY)10.75%10.51%13.73%12.14%14.48%+373 bps
Share Growth (YoY)17.37%15.34%12.36%13.47%16.00%-137 bps
Asset Quality
Delinquent Loans / Loans1.17%0.75%0.77%0.77%0.57%-59 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans1.18%1.11%1.03%1.01%1.02%-16 bps
Capital
Risk-Based Capital10.61%10.77%10.87%10.94%10.26%-35 bps
Net Worth / Assets10.61%10.77%10.87%10.94%10.26%-35 bps
Liquidity & Funding
Loans / Shares82.55%86.14%89.14%88.91%81.47%-108 bps
Liquid Assets / Assets8.55%4.92%4.10%4.55%12.06%+351 bps