Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▼ | 0.66% | -1.36 | 2.01% |
| Return on Equity (%) | ▼ | 5.03% | -10.64 | 15.67% |
| Net Interest Margin (%) | ▼ | 3.97% | -0.49 | 4.45% |
| Efficiency Ratio (%) | ▼ | 74.16% | +20.93 | 53.23% |
| Pre-Provision Profit ($M) | ▼ | $5 | -3.05 | $8 |
| Cost of Funds (%) | ▼ | 2.56% | +0.12 | 2.44% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $1,390 | +203.57 | $1,186 |
| Gross Loans ($M) | ▲ | $1,100 | +214.97 | $885 |
| Loan Growth YoY (%) | ▲ | 91.80% | +4.88 | 86.92% |
| Total Deposits ($M) | ▲ | $1,186 | +178.72 | $1,007 |
| Shareholders Equity ($M) | ▲ | $180 | +21.19 | $159 |
| Tang. Book Value ($M) | ▲ | $169 | +19.05 | $150 |
| TBV excl. AOCI ($M)** | ▲ | $174 | +19.04 | $155 |
| Loan / Deposit Ratio (%) | ▲ | 91.80% | +4.88 | 86.92% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 3.18% | +1.46 | 1.72% |
| Allowance / Loans (%) | — | 0.98% | -0.04% | 1.02% |
| Net Charge-Off Ratio (%) | ▼ | 3.61% | +1.31 | 2.30% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | — | 0.00% | 0.00 | 0.00% |
Noninterest income ($7.49M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ███▄▄▄▄▁ | Net Interest Margin (%) | 5.00% | 5.06% | 4.96% | 4.45% | 4.45% | 4.45% | 4.45% | 3.97% |
| █████▇█▁ | Return on Assets (%) | 2.00% | 2.08% | 2.12% | 2.01% | 1.98% | 1.87% | 2.00% | 0.66% |
| ▂▁▁▁▁▁▁█ | Efficiency Ratio (%) | 56.2% | 54.4% | 52.0% | 53.2% | 52.4% | 53.6% | 53.2% | 74.2% |
| ██▇▁▄▄▆▄ | Cost of Funds (%) | 2.73% | 2.76% | 2.69% | 2.44% | 2.57% | 2.57% | 2.66% | 2.56% |
| ▁▁▃▄▃█▇█ | NPA / Assets (%) | 0.76% | 0.52% | 1.27% | 1.72% | 1.50% | 2.89% | 2.76% | 3.18% |
| ▁▁▃▅▄███ | Net Charge-Off Ratio (%) | 0.94% | 0.64% | 1.67% | 2.30% | 2.00% | 3.45% | 3.28% | 3.61% |
| ▁▁▂▅▆▇██ | Tang. Book Value ($M) | $119 | $125 | $129 | $150 | $155 | $160 | $168 | $169 |
| ▁▂▁▂▃▆▆█ | Gross Loans ($M) | $813 | $849 | $849 | $885 | $917 | $1,007 | $1,005 | $1,100 |
| ▁▂▃▄▅▇██ | Total Deposits ($M) | $847 | $890 | $962 | $1,007 | $1,043 | $1,103 | $1,153 | $1,186 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 92% |
| C&I / Commercial | 8% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 19% |
| Interest-Bearing (core) | 66% |
| Brokered / Other | 14% |