Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | -6.59% | +0.30 | -6.89% |
| Return on Equity (%) | ▼ | -192.66% | -68.78 | -123.88% |
| Net Interest Margin (%) | ▲ | 3.95% | +0.44 | 3.51% |
| Efficiency Ratio (%) | ▲ | 222.85% | -51.63 | 274.48% |
| Pre-Provision Profit ($M) | ▼ | $-4 | -0.96 | $-3 |
| Cost of Funds (%) | — | 0.79% | 0.00 | 0.79% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $279 | +76.15 | $203 |
| Gross Loans ($M) | ▲ | $26 | +15.69 | $10 |
| Loan Growth YoY (%) | ▲ | 9.49% | +4.19 | 5.30% |
| Total Deposits ($M) | ▲ | $270 | +78.13 | $192 |
| Shareholders Equity ($M) | ▼ | $9 | -2.61 | $11 |
| Tang. Book Value ($M) | ▼ | $9 | -2.59 | $11 |
| TBV excl. AOCI ($M)** | ▲ | $19 | +6.54 | $12 |
| Loan / Deposit Ratio (%) | ▲ | 9.49% | +4.19 | 5.30% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.20% | +0.16 | 0.04% |
| Allowance / Loans (%) | — | 1.42% | 0.36% | 1.06% |
| Net Charge-Off Ratio (%) | ▼ | 2.13% | +1.36 | 0.77% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▼ | 14.02% | -36.21 | 50.23% |
Noninterest income ($0.89M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▇█▇▁▁▂▃▄ | Net Interest Margin (%) | 4.26% | 4.44% | 4.29% | 3.51% | 3.53% | 3.68% | 3.78% | 3.95% |
| ▁▃▄▇▅▇██ | Return on Assets (%) | -11.44% | -9.59% | -9.17% | -6.89% | -8.25% | -7.16% | -6.00% | -6.59% |
| █▆▇▆█▃▁▁ | Efficiency Ratio (%) | 297.1% | 273.4% | 280.0% | 274.5% | 298.9% | 245.1% | 216.8% | 222.9% |
| ▁▆▇█████ | Cost of Funds (%) | 0.34% | 0.71% | 0.74% | 0.79% | 0.80% | 0.83% | 0.78% | 0.79% |
| ▅▁▂▂▂▁██ | NPA / Assets (%) | 0.10% | 0.00% | 0.04% | 0.04% | 0.03% | 0.01% | 0.19% | 0.20% |
| █▁▄▂▁▁▅▄ | Net Charge-Off Ratio (%) | 4.32% | 0.00% | 1.79% | 0.77% | 0.48% | 0.13% | 2.67% | 2.13% |
| ▅▆▄█▄▅▃▁ | Tang. Book Value ($M) | $10 | $11 | $10 | $11 | $10 | $10 | $9 | $9 |
| ▁▁▁▃▅▆▆█ | Gross Loans ($M) | $3 | $3 | $5 | $10 | $17 | $19 | $18 | $26 |
| ▁▂▃▄▆▆▇█ | Total Deposits ($M) | $129 | $149 | $173 | $192 | $222 | $227 | $247 | $270 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 70% |
| C&I / Commercial | 22% |
| Consumer | 6% |
| Other | 1% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 38% |
| Interest-Bearing (core) | 61% |
| Brokered / Other | 1% |