Western Div. PSP&L Empls. Cr. Un.

Bremerton, WA · Charter 89222

Q2 1997

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: Q2 1997, the quarter ended June 30, 1997, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Bremerton, WA · Charter 89222

Q2 1997

$906KAssets

$699KLoans

$781KShares

n/aNet Worth

Return on Assets (YTD, annualized)

3.33%-133 bps YoY

Net Interest Margin (YTD, annualized)

n/a

Efficiency Ratio (YTD, annualized)

n/a

Net Worth / Assets

n/a

Year to date, annualized, through each quarter.

Metric	Q2 1994	Q4 1994	Q2 1995	Q4 1995	Q2 1996	Q4 1996	Q2 1997	YoY Δ	Trend
Earnings
Return on Assets	2.77%	3.00%	4.66%	4.49%	3.66%	4.19%	3.33%	-133 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Growth
Asset Growth (YoY)	n/a	n/a	n/a	n/a	-12.93%	-16.01%	-21.70%	n/a
Loan Growth (YoY)	n/a	n/a	n/a	n/a	-5.39%	-10.53%	-27.42%	n/a
Share Growth (YoY)	n/a	n/a	n/a	n/a	-14.03%	-18.22%	-23.75%	n/a
Asset Quality
Delinquent Loans / Loans	0.79%	0.10%	0.04%	0.00%	0.00%	0.00%	0.00%	-4 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Allowance / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.14%	+14 bps
Capital
Risk-Based Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net Worth / Assets	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Liquidity & Funding
Loans / Shares	86.24%	87.13%	94.07%	91.64%	94.90%	95.32%	89.53%	-454 bps
Liquid Assets / Assets	18.84%	19.74%	14.58%	13.67%	7.33%	14.12%	21.88%	+730 bps