Independent Financial Network Bank

Coos Bay, OR · Cert 6016

FDIC

Q3 2001

$219.8MAssets

$138.3MLoans

$176.4MDeposits

$17.3MEquity

Loan mix

Deposit mix

Executive Summary

Earnings: ROA of 1.28%, up 9 bps year over year; NIM at 4.23%.
Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.08%.
Funding: loans stand at 78.41% of deposits as of Q3 2001.

Return on Assets (quarter, annualized)

1.28%+9 bps YoY

Net Interest Margin (quarter, annualized)

4.23%

Efficiency Ratio (quarter, annualized)

70.29%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

Metric	Q4 1999	Q1 2000	Q2 2000	Q3 2000	Q4 2000	Q1 2001	Q2 2001	Q3 2001	YoY Δ	Trend
Earnings
Return on Assets	1.40%	1.04%	1.14%	1.19%	1.30%	1.22%	1.40%	1.28%	+9 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	n/a	17.27%	16.23%	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	n/a	4.14%	4.23%	4.23%	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	n/a	75.92%	73.06%	70.29%	n/a
Non-Interest Burden	n/a	n/a	n/a	n/a	n/a	2.64%	2.29%	2.18%	n/a
Growth
Asset Growth (YoY)	4.06%	9.82%	11.23%	19.78%	14.46%	16.41%	16.89%	11.72%	-805 bps
Loan Growth (YoY)	11.91%	15.08%	8.48%	12.71%	7.71%	11.49%	20.57%	18.41%	+570 bps
Deposit Growth (YoY)	5.05%	10.36%	8.97%	16.49%	14.04%	9.55%	16.58%	10.12%	-638 bps
Asset Quality
Nonperforming Loans / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	n/a	0.15%	0.03%	0.08%	n/a
Allowance / Loans	n/a	n/a	n/a	n/a	n/a	1.21%	1.04%	1.09%	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	n/a	n/a	n/a	n/a	n/a	11.89%	10.90%	10.84%	n/a
Equity / Assets	n/a	n/a	n/a	n/a	n/a	8.39%	7.89%	7.85%	n/a
Liquidity & Funding
Loans / Deposits	77.83%	74.55%	78.70%	72.92%	73.51%	75.87%	81.40%	78.41%	+549 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a