Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.71% | +0.63 | 1.08% |
| Return on Equity (%) | ▲ | 33.27% | +9.61 | 23.66% |
| Net Interest Margin (%) | ▼ | 2.45% | -0.10 | 2.55% |
| Efficiency Ratio (%) | ▲ | 38.30% | -14.74 | 53.04% |
| Pre-Provision Profit ($M) | ▲ | $53 | +22.01 | $31 |
| Cost of Funds (%) | ▲ | 1.61% | -0.27 | 1.88% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $9,605 | +917.33 | $8,688 |
| Gross Loans ($M) | ▲ | $2,876 | +278.77 | $2,597 |
| Loan Growth YoY (%) | ▲ | 31.69% | +0.16 | 31.53% |
| Total Deposits ($M) | ▲ | $9,053 | +840.05 | $8,213 |
| Shareholders Equity ($M) | ▲ | $483 | +65.51 | $417 |
| Tang. Book Value ($M) | ▲ | $483 | +65.51 | $417 |
| TBV excl. AOCI ($M)** | ▲ | $787 | +93.73 | $694 |
| Loan / Deposit Ratio (%) | ▲ | 31.69% | +0.16 | 31.53% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.12% | +0.01 | 0.11% |
| Allowance / Loans (%) | — | 0.23% | -0.05% | 0.28% |
| Net Charge-Off Ratio (%) | ▼ | 0.41% | +0.05 | 0.37% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▼ | 15.24% | -0.92 | 16.15% |
Noninterest income ($28.54M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▇▄█▄▁▁▂ | Net Interest Margin (%) | 2.44% | 2.52% | 2.49% | 2.55% | 2.48% | 2.43% | 2.45% | 2.45% |
| ▃▂▅▁▁▁▃█ | Return on Assets (%) | 1.26% | 1.21% | 1.42% | 1.08% | 1.06% | 1.11% | 1.24% | 1.71% |
| ▅▆▄██▇▆▁ | Efficiency Ratio (%) | 47.2% | 48.9% | 45.3% | 53.0% | 52.2% | 50.4% | 47.9% | 38.3% |
| █▇▆▄▄▄▂▁ | Cost of Funds (%) | 2.27% | 2.15% | 2.08% | 1.88% | 1.87% | 1.90% | 1.70% | 1.61% |
| ▄█▂▁▃▄▆▃ | NPA / Assets (%) | 0.13% | 0.16% | 0.12% | 0.11% | 0.13% | 0.13% | 0.14% | 0.12% |
| ▅█▃▁▃▃▄▂ | Net Charge-Off Ratio (%) | 0.48% | 0.58% | 0.43% | 0.37% | 0.43% | 0.44% | 0.47% | 0.41% |
| ▁▅▁▃▄▆██ | Tang. Book Value ($M) | $395 | $443 | $382 | $417 | $435 | $460 | $491 | $483 |
| ▁▁▂▄▅▅██ | Gross Loans ($M) | $2,327 | $2,339 | $2,410 | $2,597 | $2,637 | $2,633 | $2,856 | $2,876 |
| ▁▁▂▁▂▃▆█ | Total Deposits ($M) | $8,203 | $8,184 | $8,343 | $8,213 | $8,379 | $8,468 | $8,790 | $9,053 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 100% |
| Deposit Mix | % |
|---|---|
| Interest-Bearing (core) | 99% |
| Brokered / Other | 1% |