Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▼ | 1.54% | -0.28 | 1.82% |
| Return on Equity (%) | ▼ | 8.98% | -0.83 | 9.81% |
| Net Interest Margin (%) | ▲ | 13.26% | +5.25 | 8.01% |
| Efficiency Ratio (%) | ▼ | 63.68% | +2.27 | 61.41% |
| Pre-Provision Profit ($M) | ▲ | $15 | +7.32 | $8 |
| Cost of Funds (%) | ▼ | 2.45% | +0.31 | 2.14% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $890 | +94.08 | $796 |
| Gross Loans ($M) | ▲ | $711 | +105.63 | $605 |
| Loan Growth YoY (%) | ▲ | 95.06% | +1.56 | 93.50% |
| Total Deposits ($M) | ▲ | $708 | +75.79 | $632 |
| Shareholders Equity ($M) | ▲ | $161 | +17.63 | $144 |
| Tang. Book Value ($M) | ▲ | $157 | +17.78 | $139 |
| TBV excl. AOCI ($M)** | ▲ | $159 | +17.52 | $141 |
| Loan / Deposit Ratio (%) | ▲ | 95.06% | +1.56 | 93.50% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 5.59% | +1.89 | 3.71% |
| Allowance / Loans (%) | — | 5.34% | 2.99% | 2.35% |
| Net Charge-Off Ratio (%) | ▼ | 7.00% | +2.12 | 4.88% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | — | 0.00% | 0.00 | 0.00% |
Noninterest income ($14.56M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▄▄▄▁▁▁▂█ | Net Interest Margin (%) | 10.35% | 10.13% | 9.93% | 8.01% | 7.90% | 8.39% | 9.21% | 13.26% |
| ██▇▂▃▄▃▁ | Return on Assets (%) | 3.04% | 3.03% | 2.81% | 1.82% | 2.02% | 2.16% | 2.07% | 1.54% |
| ▄▅▅▇▆▂▁█ | Efficiency Ratio (%) | 54.7% | 55.9% | 56.4% | 61.4% | 58.6% | 51.7% | 47.8% | 63.7% |
| ██▁▁▇▆▅▇ | Cost of Funds (%) | 2.51% | 2.48% | 2.09% | 2.14% | 2.41% | 2.39% | 2.34% | 2.45% |
| ▄▄▆▁▅▅▄█ | NPA / Assets (%) | 4.44% | 4.46% | 4.89% | 3.71% | 4.71% | 4.72% | 4.46% | 5.59% |
| ▃▄▇▁▄▄▄█ | Net Charge-Off Ratio (%) | 5.64% | 5.82% | 6.49% | 4.88% | 5.86% | 5.92% | 5.87% | 7.00% |
| ▁▂▃▄▅▇██ | Tang. Book Value ($M) | $126 | $132 | $136 | $139 | $144 | $149 | $153 | $157 |
| ▁▂▃▄▆███ | Gross Loans ($M) | $478 | $515 | $553 | $605 | $670 | $716 | $735 | $711 |
| ▁▂▃▅▆▇█▇ | Total Deposits ($M) | $460 | $519 | $571 | $632 | $664 | $719 | $780 | $708 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 47% |
| C&I / Commercial | 7% |
| Consumer | 36% |
| Other | 10% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 22% |
| Interest-Bearing (core) | 18% |
| Brokered / Other | 60% |