Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.16% | +0.21 | 0.95% |
| Return on Equity (%) | ▲ | 13.71% | +2.32 | 11.39% |
| Net Interest Margin (%) | ▲ | 3.54% | +0.18 | 3.35% |
| Efficiency Ratio (%) | ▲ | 61.62% | -6.94 | 68.57% |
| Pre-Provision Profit ($M) | ▲ | $8 | +2.42 | $5 |
| Cost of Funds (%) | ▲ | 2.24% | -0.12 | 2.37% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $1,980 | +209.72 | $1,771 |
| Gross Loans ($M) | ▲ | $1,712 | +214.96 | $1,497 |
| Loan Growth YoY (%) | ▼ | 112.12% | -2.09 | 114.21% |
| Total Deposits ($M) | ▲ | $1,516 | +213.72 | $1,302 |
| Shareholders Equity ($M) | ▲ | $170 | +21.71 | $148 |
| Tang. Book Value ($M) | ▲ | $166 | +21.74 | $144 |
| TBV excl. AOCI ($M)** | ▲ | $174 | +21.83 | $152 |
| Loan / Deposit Ratio (%) | ▼ | 112.12% | -2.09 | 114.21% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.51% | +0.48 | 0.03% |
| Allowance / Loans (%) | — | 0.70% | 0.07% | 0.63% |
| Net Charge-Off Ratio (%) | ▼ | 0.60% | +0.56 | 0.04% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 10.21% | +0.36 | 9.84% |
Noninterest income ($3.48M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▂▂▁▄▆▇█ | Net Interest Margin (%) | 3.35% | 3.39% | 3.39% | 3.35% | 3.42% | 3.47% | 3.50% | 3.54% |
| ▁▃▄▂▂▅▆█ | Return on Assets (%) | 0.92% | 0.98% | 1.02% | 0.95% | 0.96% | 1.04% | 1.10% | 1.16% |
| █▇▇██▅▄▁ | Efficiency Ratio (%) | 68.6% | 67.1% | 67.1% | 68.6% | 68.2% | 65.7% | 64.3% | 61.6% |
| ▆██▄▅▄▃▁ | Cost of Funds (%) | 2.45% | 2.57% | 2.53% | 2.37% | 2.42% | 2.40% | 2.35% | 2.24% |
| ▁▁▁▁▁▁▁█ | NPA / Assets (%) | 0.04% | 0.05% | 0.04% | 0.03% | 0.03% | 0.03% | 0.03% | 0.51% |
| ▁▁▁▁▁▁▁█ | Net Charge-Off Ratio (%) | 0.05% | 0.06% | 0.05% | 0.04% | 0.03% | 0.04% | 0.04% | 0.60% |
| ▁▂▂▄▅▆██ | Tang. Book Value ($M) | $129 | $135 | $137 | $144 | $148 | $156 | $161 | $166 |
| ▁▂▃▄▅▇██ | Gross Loans ($M) | $1,321 | $1,375 | $1,425 | $1,497 | $1,557 | $1,652 | $1,701 | $1,712 |
| ▁▁▂▁▃▅▇█ | Total Deposits ($M) | $1,273 | $1,297 | $1,304 | $1,302 | $1,361 | $1,396 | $1,482 | $1,516 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 86% |
| C&I / Commercial | 10% |
| Other | 3% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 14% |
| Interest-Bearing (core) | 70% |
| Brokered / Other | 16% |