Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.23% | +0.06 | 1.17% |
| Return on Equity (%) | ▼ | 16.57% | -1.61 | 18.18% |
| Net Interest Margin (%) | ▲ | 3.17% | +0.11 | 3.05% |
| Efficiency Ratio (%) | ▲ | 59.06% | -1.79 | 60.85% |
| Pre-Provision Profit ($M) | ▲ | $12 | +1.34 | $11 |
| Cost of Funds (%) | ▲ | 1.85% | -0.16 | 2.01% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $3,129 | +5.76 | $3,123 |
| Gross Loans ($M) | ▲ | $2,095 | +288.26 | $1,807 |
| Loan Growth YoY (%) | ▲ | 72.12% | +10.54 | 61.58% |
| Total Deposits ($M) | ▼ | $2,869 | -27.16 | $2,896 |
| Shareholders Equity ($M) | ▲ | $232 | +31.00 | $201 |
| Tang. Book Value ($M) | ▲ | $229 | +31.00 | $198 |
| TBV excl. AOCI ($M)** | ▲ | $256 | +27.10 | $229 |
| Loan / Deposit Ratio (%) | ▲ | 72.12% | +10.54 | 61.58% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▲ | 0.11% | -0.04 | 0.15% |
| Allowance / Loans (%) | — | 1.26% | -0.06% | 1.33% |
| Net Charge-Off Ratio (%) | ▲ | 0.17% | -0.10 | 0.27% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▼ | 11.36% | -0.40 | 11.77% |
Noninterest income ($7.25M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▁▂▅████ | Net Interest Margin (%) | 2.84% | 2.87% | 2.92% | 3.05% | 3.15% | 3.19% | 3.17% | 3.17% |
| ▁▁▂▅███▇ | Return on Assets (%) | 1.02% | 1.04% | 1.06% | 1.17% | 1.26% | 1.26% | 1.28% | 1.23% |
| ██▇▆▂▂▁▄ | Efficiency Ratio (%) | 62.9% | 62.8% | 61.9% | 60.8% | 57.8% | 57.5% | 56.7% | 59.1% |
| █▆▅▂▄▂▂▁ | Cost of Funds (%) | 2.72% | 2.48% | 2.34% | 2.01% | 2.21% | 2.03% | 2.00% | 1.85% |
| ▁▁███▇▆▆ | NPA / Assets (%) | 0.04% | 0.03% | 0.15% | 0.15% | 0.15% | 0.13% | 0.12% | 0.11% |
| ▁▁██▇▆▅▅ | Net Charge-Off Ratio (%) | 0.06% | 0.05% | 0.25% | 0.27% | 0.23% | 0.20% | 0.18% | 0.17% |
| ▂▅▁▃▅▇██ | Tang. Book Value ($M) | $193 | $211 | $185 | $198 | $208 | $219 | $224 | $229 |
| ▁▁▃▂▃▅▇█ | Gross Loans ($M) | $1,728 | $1,739 | $1,823 | $1,807 | $1,850 | $1,929 | $2,020 | $2,095 |
| ▁▅▅█▂▃▇█ | Total Deposits ($M) | $2,583 | $2,750 | $2,743 | $2,896 | $2,637 | $2,699 | $2,836 | $2,869 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 71% |
| C&I / Commercial | 25% |
| Consumer | 2% |
| Other | 2% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 15% |
| Interest-Bearing (core) | 84% |
| Brokered / Other | 2% |