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Old Kent Bank

Grand Rapids, MI · Cert 993

FDIC

Q2 2009

$50.9BAssets
$36.7BLoans
$41.5BDeposits
$6.0BEquity
Loan mix
59%RE $18.0B37%C&I $11.3B4%Consumer $1.1BQ2 2008Q2 2009
Deposit mix
80%Interest-bearing $33.3B20%Noninterest $8.2BQ2 2008Q2 2009

NIM

6.60%Q2 ’074.86%Q2 ’083.60%Q2 ’09-14%-28%

Non-interest income vs. expense

2.87%Q2 ’072.76%Q2 ’082.84%Q2 ’09+8%+1%

Executive Summary

  • Earnings: ROA of -2.05%, down 144 bps year over year; NIM at 2.51%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.70%.
  • Funding: loans stand at 88.47% of deposits as of Q2 2009.

Financial Results

Return on Assets (quarter, annualized)

-2.05%-144 bps YoY

Net Interest Margin (quarter, annualized)

2.51%-97 bps YoY

Efficiency Ratio (quarter, annualized)

71.68%+1,507 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2008Q3 2008Q4 2008Q1 2009Q2 2009YoY ΔTrend
Earnings
Return on Assets-0.61%-1.41%-10.18%-0.91%-2.05%-144 bps
Return on Equity-5.21%-11.99%-86.64%-7.76%-17.55%-1,234 bps
Net Interest Margin3.48%3.46%2.93%2.51%2.51%-97 bps
Efficiency Ratio56.61%56.13%79.45%75.04%71.68%+1,507 bps
Non-Interest Burden1.41%1.40%5.32%1.60%1.43%+1 bps
Growth
Asset Growth (YoY)9.41%11.05%1.30%0.05%-6.03%-1,544 bps
Loan Growth (YoY)9.94%7.26%-9.24%-9.64%-12.10%-2,204 bps
Deposit Growth (YoY)-1.58%-1.67%-0.61%6.07%10.87%+1,245 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.83%2.90%13.38%3.06%3.70%+187 bps
Allowance / Loans2.09%2.71%3.76%4.08%4.79%+270 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 Capital11.51%11.50%12.69%13.00%12.07%+56 bps
Equity / Assets11.91%11.70%11.80%11.59%11.84%-7 bps
Liquidity & Funding
Loans / Deposits111.59%112.62%95.22%90.52%88.47%-2,312 bps
Liquid Assets / Assets4.87%5.19%10.41%11.58%8.28%+340 bps
CRE / Total Capitaln/an/an/an/an/an/an/a