Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▼ | 0.85% | -0.16 | 1.02% |
| Return on Equity (%) | ▼ | 7.04% | -2.97 | 10.01% |
| Net Interest Margin (%) | ▲ | 4.15% | +0.15 | 4.00% |
| Efficiency Ratio (%) | ▼ | 73.49% | +2.87 | 70.62% |
| Pre-Provision Profit ($M) | ▲ | $8 | +0.60 | $8 |
| Cost of Funds (%) | ▲ | 1.19% | -0.13 | 1.32% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $2,769 | +609.21 | $2,160 |
| Gross Loans ($M) | ▲ | $2,052 | +384.15 | $1,668 |
| Loan Growth YoY (%) | ▲ | 89.83% | +0.55 | 89.28% |
| Total Deposits ($M) | ▲ | $2,260 | +411.23 | $1,848 |
| Shareholders Equity ($M) | ▲ | $335 | +115.99 | $219 |
| Tang. Book Value ($M) | ▲ | $314 | +108.02 | $206 |
| TBV excl. AOCI ($M)** | ▲ | $326 | +108.04 | $218 |
| Loan / Deposit Ratio (%) | ▲ | 89.83% | +0.55 | 89.28% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.88% | +0.38 | 0.50% |
| Allowance / Loans (%) | — | 1.09% | 0.03% | 1.06% |
| Net Charge-Off Ratio (%) | ▼ | 1.01% | +0.69 | 0.33% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 15.30% | +3.04 | 12.25% |
Noninterest income ($6.66M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▁▂▇████ | Net Interest Margin (%) | 3.18% | 3.29% | 3.42% | 4.00% | 4.08% | 4.14% | 4.19% | 4.15% |
| ▁▂▁▆██▂▃ | Return on Assets (%) | 0.70% | 0.78% | 0.71% | 1.02% | 1.19% | 1.13% | 0.79% | 0.85% |
| ███▁▂▃▇▃ | Efficiency Ratio (%) | 79.3% | 78.8% | 79.9% | 70.6% | 72.9% | 73.3% | 78.6% | 73.5% |
| ▇█▅▂▁▃▂▁ | Cost of Funds (%) | 1.81% | 1.95% | 1.57% | 1.32% | 1.23% | 1.41% | 1.29% | 1.19% |
| ▁▁▁▁▅▃▇█ | NPA / Assets (%) | 0.48% | 0.52% | 0.50% | 0.50% | 0.72% | 0.63% | 0.78% | 0.88% |
| ▁▁▁▁▅▄▇█ | Net Charge-Off Ratio (%) | 0.31% | 0.36% | 0.32% | 0.33% | 0.72% | 0.59% | 0.87% | 1.01% |
| ▁▁▁▂████ | Tang. Book Value ($M) | $189 | $199 | $202 | $206 | $316 | $325 | $309 | $314 |
| ▁▁▂▂████ | Gross Loans ($M) | $1,569 | $1,587 | $1,633 | $1,668 | $2,031 | $2,057 | $2,053 | $2,052 |
| ▁▁▁▁████ | Total Deposits ($M) | $1,804 | $1,792 | $1,800 | $1,848 | $2,281 | $2,256 | $2,231 | $2,260 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 79% |
| C&I / Commercial | 9% |
| Consumer | 10% |
| Other | 2% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 30% |
| Interest-Bearing (core) | 68% |
| Brokered / Other | 3% |