Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 2.11% | +0.57 | 1.54% |
| Return on Equity (%) | ▲ | 23.04% | +5.53 | 17.51% |
| Net Interest Margin (%) | ▲ | 4.63% | +0.19 | 4.44% |
| Efficiency Ratio (%) | ▲ | 47.17% | -9.29 | 56.45% |
| Pre-Provision Profit ($M) | ▲ | $17 | +6.30 | $11 |
| Cost of Funds (%) | ▲ | 2.00% | -0.15 | 2.15% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $2,445 | +313.55 | $2,131 |
| Gross Loans ($M) | ▲ | $1,899 | +263.31 | $1,636 |
| Loan Growth YoY (%) | ▲ | 87.35% | +3.48 | 83.87% |
| Total Deposits ($M) | ▲ | $2,150 | +220.20 | $1,930 |
| Shareholders Equity ($M) | ▲ | $229 | +43.50 | $186 |
| Tang. Book Value ($M) | ▲ | $226 | +42.53 | $183 |
| TBV excl. AOCI ($M)** | ▲ | $248 | +45.17 | $203 |
| Loan / Deposit Ratio (%) | ▲ | 87.35% | +3.48 | 83.87% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.19% | +0.07 | 0.12% |
| Allowance / Loans (%) | — | 1.08% | 0.06% | 1.03% |
| Net Charge-Off Ratio (%) | ▼ | 0.24% | +0.08 | 0.16% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 10.86% | +0.12 | 10.75% |
Noninterest income ($4.89M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▁▃▆▅▆▇█ | Net Interest Margin (%) | 4.01% | 4.02% | 4.17% | 4.44% | 4.39% | 4.41% | 4.53% | 4.63% |
| ▁▁▁▂▃▃▄█ | Return on Assets (%) | 1.40% | 1.38% | 1.36% | 1.54% | 1.63% | 1.56% | 1.70% | 2.11% |
| ███▇▅▃▂▁ | Efficiency Ratio (%) | 56.8% | 57.9% | 58.2% | 56.5% | 53.0% | 51.2% | 49.9% | 47.2% |
| ██▅▂▃▃▁▁ | Cost of Funds (%) | 2.77% | 2.85% | 2.50% | 2.15% | 2.22% | 2.21% | 2.10% | 2.00% |
| ██▁▁▁▄▁▂ | NPA / Assets (%) | 0.43% | 0.39% | 0.13% | 0.12% | 0.14% | 0.25% | 0.15% | 0.19% |
| ██▁▁▁▄▁▂ | Net Charge-Off Ratio (%) | 0.53% | 0.49% | 0.17% | 0.16% | 0.18% | 0.32% | 0.19% | 0.24% |
| ▁▂▃▄▅▆▇█ | Tang. Book Value ($M) | $154 | $168 | $173 | $183 | $193 | $202 | $214 | $226 |
| ▁▁▁▃▅███ | Gross Loans ($M) | $1,550 | $1,532 | $1,553 | $1,636 | $1,750 | $1,885 | $1,907 | $1,899 |
| ▁▂▂▅▇███ | Total Deposits ($M) | $1,659 | $1,745 | $1,785 | $1,930 | $2,048 | $2,118 | $2,176 | $2,150 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 56% |
| C&I / Commercial | 38% |
| Other | 5% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 27% |
| Interest-Bearing (core) | 64% |
| Brokered / Other | 9% |