Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.34% | +0.19 | 1.15% |
| Return on Equity (%) | ▲ | 10.85% | +1.40 | 9.45% |
| Net Interest Margin (%) | ▲ | 3.64% | +0.40 | 3.24% |
| Efficiency Ratio (%) | ▲ | 56.35% | -3.88 | 60.24% |
| Pre-Provision Profit ($M) | ▲ | $21 | +5.95 | $15 |
| Cost of Funds (%) | ▲ | 1.44% | -0.30 | 1.74% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $4,672 | +613.69 | $4,059 |
| Gross Loans ($M) | ▲ | $3,597 | +471.03 | $3,126 |
| Loan Growth YoY (%) | ▼ | 91.94% | -1.75 | 93.69% |
| Total Deposits ($M) | ▲ | $3,875 | +569.00 | $3,306 |
| Shareholders Equity ($M) | ▲ | $584 | +83.58 | $501 |
| Tang. Book Value ($M) | ▲ | $423 | +48.79 | $375 |
| TBV excl. AOCI ($M)** | ▲ | $453 | +53.05 | $400 |
| Loan / Deposit Ratio (%) | ▼ | 91.94% | -1.75 | 93.69% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.50% | +0.30 | 0.20% |
| Allowance / Loans (%) | — | 0.95% | 0.04% | 0.92% |
| Net Charge-Off Ratio (%) | ▼ | 0.65% | +0.39 | 0.26% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▼ | 12.47% | -0.20 | 12.67% |
Noninterest income ($11.35M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▁▁▁▂▅▇█ | Net Interest Margin (%) | 3.22% | 3.25% | 3.25% | 3.24% | 3.28% | 3.44% | 3.56% | 3.64% |
| ▅▇▇▅▁▁▂█ | Return on Assets (%) | 1.19% | 1.26% | 1.26% | 1.15% | 0.96% | 0.96% | 1.03% | 1.34% |
| ▅▄▄▆▇██▁ | Efficiency Ratio (%) | 59.3% | 59.0% | 58.5% | 60.2% | 61.0% | 61.8% | 61.5% | 56.4% |
| ▇█▆▆▇▂▁▁ | Cost of Funds (%) | 1.80% | 1.85% | 1.71% | 1.74% | 1.75% | 1.50% | 1.47% | 1.44% |
| ▁▁▁▁▃▂▃█ | NPA / Assets (%) | 0.16% | 0.18% | 0.17% | 0.20% | 0.25% | 0.21% | 0.25% | 0.50% |
| ▁▁▁▁▃▂▃█ | Net Charge-Off Ratio (%) | 0.21% | 0.23% | 0.22% | 0.26% | 0.32% | 0.28% | 0.32% | 0.65% |
| ▁▃▁▂▂▅▇█ | Tang. Book Value ($M) | $367 | $387 | $367 | $375 | $377 | $399 | $412 | $423 |
| ▁▁▂▁▂███ | Gross Loans ($M) | $3,068 | $3,083 | $3,148 | $3,126 | $3,155 | $3,589 | $3,611 | $3,597 |
| ▁▂▂▂▂█▇█ | Total Deposits ($M) | $3,147 | $3,270 | $3,275 | $3,306 | $3,299 | $3,960 | $3,834 | $3,875 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 89% |
| C&I / Commercial | 7% |
| Other | 3% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 17% |
| Interest-Bearing (core) | 73% |
| Brokered / Other | 10% |