Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▼ | -2.82% | -3.19 | 0.36% |
| Return on Equity (%) | ▼ | -7.00% | -8.54 | 1.54% |
| Net Interest Margin (%) | ▲ | 3.27% | +1.23 | 2.04% |
| Efficiency Ratio (%) | ▼ | 209.02% | +117.40 | 91.62% |
| Pre-Provision Profit ($M) | ▼ | $-4 | -4.83 | $1 |
| Cost of Funds (%) | ▲ | 1.04% | -0.41 | 1.45% |
| Balance Sheet | ||||
| Total Assets ($M) | ▼ | $528 | -478.36 | $1,006 |
| Gross Loans ($M) | ▼ | $109 | -593.22 | $702 |
| Loan Growth YoY (%) | ▼ | 39.35% | -76.80 | 116.15% |
| Total Deposits ($M) | ▼ | $273 | -324.73 | $597 |
| Shareholders Equity ($M) | ▼ | $240 | -0.86 | $241 |
| Tang. Book Value ($M) | ▲ | $240 | +179.61 | $61 |
| TBV excl. AOCI ($M)** | ▲ | $252 | +189.76 | $62 |
| Loan / Deposit Ratio (%) | ▼ | 39.35% | -76.80 | 116.15% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▲ | 0.08% | -3.38 | 3.46% |
| Allowance / Loans (%) | — | 1.33% | 0.19% | 1.14% |
| Net Charge-Off Ratio (%) | ▲ | 0.34% | -4.59 | 4.93% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 174.41% | +152.11 | 22.30% |
Noninterest income ($-0.95M) 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 (%) | 1.68% | 1.86% | 1.98% | 2.04% | 2.35% | 2.59% | 2.97% | 3.27% |
| ▆▆▆▆▇█▆▁ | Return on Assets (%) | 0.24% | 0.16% | 0.22% | 0.36% | 0.46% | 1.42% | 0.32% | -2.82% |
| ▃▃▃▃▃▁▁█ | Efficiency Ratio (%) | 97.6% | 100.7% | 97.8% | 91.6% | 89.3% | 45.6% | 55.3% | 209.0% |
| █▅▃▆▄▁▁▁ | Cost of Funds (%) | 1.71% | 1.40% | 1.24% | 1.45% | 1.27% | 1.04% | 0.95% | 1.04% |
| ▆█████▁▁ | NPA / Assets (%) | 2.45% | 3.38% | 3.55% | 3.46% | 3.52% | 3.54% | 0.01% | 0.08% |
| ▆█████▁▁ | Net Charge-Off Ratio (%) | 3.56% | 4.89% | 5.14% | 4.93% | 5.06% | 5.19% | 0.01% | 0.34% |
| ▁▁▁▁▂███ | Tang. Book Value ($M) | $40 | $48 | $54 | $61 | $68 | $247 | $245 | $240 |
| █████▇▁▁ | Gross Loans ($M) | $744 | $728 | $713 | $702 | $687 | $635 | $88 | $109 |
| ██▆▆▇▇▃▁ | Total Deposits ($M) | $707 | $715 | $568 | $597 | $609 | $651 | $406 | $273 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 89% |
| C&I / Commercial | 10% |
| Consumer | 2% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 14% |
| Interest-Bearing (core) | 74% |
| Brokered / Other | 12% |