Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.83% | +1.77 | 0.05% |
| Return on Equity (%) | ▲ | 34.94% | +33.04 | 1.90% |
| Net Interest Margin (%) | ▼ | 6.23% | -0.11 | 6.33% |
| Efficiency Ratio (%) | ▲ | 91.70% | -0.30 | 92.00% |
| Pre-Provision Profit ($M) | ▲ | $38 | +8.27 | $30 |
| Cost of Funds (%) | ▲ | 0.17% | -0.01 | 0.18% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $5,868 | +967.34 | $4,901 |
| Gross Loans ($M) | ▲ | $67 | +5.46 | $61 |
| Loan Growth YoY (%) | ▲ | 1.20% | +0.04 | 1.16% |
| Total Deposits ($M) | ▲ | $4,968 | +276.46 | $4,691 |
| Shareholders Equity ($M) | ▲ | $300 | +129.95 | $170 |
| Tang. Book Value ($M) | ▲ | $289 | +129.98 | $159 |
| TBV excl. AOCI ($M)** | ▲ | $437 | +173.26 | $264 |
| Loan / Deposit Ratio (%) | ▲ | 1.20% | +0.04 | 1.16% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▲ | 0.03% | -0.02 | 0.04% |
| Allowance / Loans (%) | — | 10.75% | -0.37% | 11.12% |
| Net Charge-Off Ratio (%) | ▲ | 2.30% | -1.22 | 3.53% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 31.35% | +2.11 | 29.23% |
Noninterest income ($389.61M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▇██▂▅▆▇▁ | Net Interest Margin (%) | 6.56% | 6.62% | 6.66% | 6.33% | 6.45% | 6.50% | 6.56% | 6.23% |
| ▅▆▆▁▄▅▆█ | Return on Assets (%) | 1.14% | 1.35% | 1.30% | 0.05% | 0.78% | 1.06% | 1.24% | 1.83% |
| ▁▂▅█████ | Efficiency Ratio (%) | 67.5% | 71.7% | 82.2% | 92.0% | 91.9% | 91.9% | 91.8% | 91.7% |
| ▁▁▁█▃▂▁█ | Cost of Funds (%) | 0.10% | 0.11% | 0.10% | 0.18% | 0.13% | 0.11% | 0.10% | 0.17% |
| ▆██▄▃▄▃▁ | NPA / Assets (%) | 0.05% | 0.06% | 0.06% | 0.04% | 0.04% | 0.04% | 0.04% | 0.03% |
| ██▄▄▅▅▁▂ | Net Charge-Off Ratio (%) | 6.04% | 5.93% | 3.27% | 3.53% | 4.03% | 4.03% | 1.56% | 2.30% |
| ▁▃▁▃▅▆██ | Tang. Book Value ($M) | $96 | $143 | $85 | $159 | $189 | $227 | $268 | $289 |
| ▁▁▅▃▁▂█▃ | Gross Loans ($M) | $40 | $47 | $84 | $61 | $44 | $51 | $119 | $67 |
| ▃▁▃▅▄▅▇█ | Total Deposits ($M) | $4,435 | $4,242 | $4,442 | $4,691 | $4,564 | $4,666 | $4,873 | $4,968 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 11% |
| C&I / Commercial | 9% |
| Consumer | 73% |
| Other | 7% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 97% |
| Brokered / Other | 5% |