Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▼ | -0.10% | -0.00 | -0.10% |
| Return on Equity (%) | ▼ | -1.78% | -0.91 | -0.87% |
| Net Interest Margin (%) | ▼ | 2.57% | -1.27 | 3.84% |
| Efficiency Ratio (%) | ▼ | 116.66% | +17.07 | 99.59% |
| Pre-Provision Profit ($M) | ▼ | $-1 | -1.07 | $0 |
| Cost of Funds (%) | ▼ | 2.24% | +0.64 | 1.60% |
| Balance Sheet | ||||
| Total Assets ($M) | ▼ | $860 | -137.02 | $997 |
| Gross Loans ($M) | ▼ | $510 | -145.88 | $656 |
| Loan Growth YoY (%) | ▼ | 62.93% | -9.62 | 72.55% |
| Total Deposits ($M) | ▼ | $790 | -80.47 | $870 |
| Shareholders Equity ($M) | ▼ | $51 | -65.12 | $116 |
| Tang. Book Value ($M) | ▼ | $51 | -65.08 | $116 |
| TBV excl. AOCI ($M)** | ▼ | $52 | -67.63 | $119 |
| Loan / Deposit Ratio (%) | ▼ | 62.93% | -9.62 | 72.55% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 12.20% | +11.04 | 1.16% |
| Allowance / Loans (%) | — | 2.55% | -1.19% | 3.75% |
| Net Charge-Off Ratio (%) | ▼ | 20.56% | +18.79 | 1.77% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▼ | 9.98% | -7.56 | 17.54% |
Noninterest income ($0.85M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ███▇▆▅▄▁ | Net Interest Margin (%) | 4.15% | 4.01% | 4.03% | 3.84% | 3.70% | 3.55% | 3.24% | 2.57% |
| ██▇█▅▁▁█ | Return on Assets (%) | 0.27% | 0.08% | -0.99% | -0.10% | -3.20% | -6.97% | -7.04% | -0.10% |
| ▁▁▁▁▇▇█▂ | Efficiency Ratio (%) | 94.1% | 99.3% | 96.8% | 99.6% | 178.0% | 181.7% | 197.9% | 116.7% |
| ▂█▇▁▁▅▇█ | Cost of Funds (%) | 1.67% | 2.19% | 2.10% | 1.60% | 1.52% | 1.94% | 2.14% | 2.24% |
| ▂▁▁▁▄▆█▇ | NPA / Assets (%) | 2.67% | 1.38% | 0.11% | 1.16% | 6.71% | 9.84% | 15.04% | 12.20% |
| ▂▁▁▁▄▆█▇ | Net Charge-Off Ratio (%) | 3.62% | 2.35% | 0.17% | 1.77% | 10.19% | 15.39% | 24.29% | 20.56% |
| ████▇▃▁▁ | Tang. Book Value ($M) | $117 | $117 | $115 | $116 | $101 | $67 | $51 | $51 |
| █▅▅▆▅▃▂▁ | Gross Loans ($M) | $706 | $620 | $629 | $656 | $613 | $581 | $541 | $510 |
| ▄█▅▆▄▁▁▃ | Total Deposits ($M) | $817 | $919 | $828 | $870 | $805 | $755 | $733 | $790 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 78% |
| C&I / Commercial | 8% |
| Other | 14% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 44% |
| Interest-Bearing (core) | 26% |
| Brokered / Other | 30% |