Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.67% | +0.24 | 1.44% |
| Return on Equity (%) | ▲ | 14.78% | +1.26 | 13.52% |
| Net Interest Margin (%) | ▼ | 3.95% | -0.12 | 4.07% |
| Efficiency Ratio (%) | ▲ | 51.45% | -5.48 | 56.92% |
| Pre-Provision Profit ($M) | ▲ | $30 | +5.63 | $24 |
| Cost of Funds (%) | ▲ | 1.75% | -0.12 | 1.87% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $5,577 | +134.87 | $5,442 |
| Gross Loans ($M) | ▲ | $4,065 | +183.44 | $3,881 |
| Loan Growth YoY (%) | ▲ | 86.74% | +4.30 | 82.44% |
| Total Deposits ($M) | ▼ | $4,631 | -18.62 | $4,650 |
| Shareholders Equity ($M) | ▲ | $636 | +50.17 | $586 |
| Tang. Book Value ($M) | ▲ | $528 | +58.23 | $469 |
| TBV excl. AOCI ($M)** | ▲ | $575 | +62.81 | $512 |
| Loan / Deposit Ratio (%) | ▲ | 86.74% | +4.30 | 82.44% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.57% | +0.14 | 0.43% |
| Allowance / Loans (%) | — | 1.17% | -0.06% | 1.23% |
| Net Charge-Off Ratio (%) | ▼ | 0.75% | +0.15 | 0.60% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 12.52% | +0.66 | 11.86% |
Noninterest income ($15.90M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▇█▅▆▇▆▃ | Net Interest Margin (%) | 3.74% | 4.20% | 4.29% | 4.07% | 4.12% | 4.16% | 4.14% | 3.95% |
| ▅▁▂▇▇███ | Return on Assets (%) | 1.24% | 0.54% | 0.74% | 1.44% | 1.50% | 1.58% | 1.60% | 1.67% |
| ▄█▇▃▂▁▁▁ | Efficiency Ratio (%) | 61.5% | 72.3% | 69.3% | 56.9% | 55.5% | 53.7% | 53.4% | 51.4% |
| ▆█▆▃▁▁▂▁ | Cost of Funds (%) | 2.06% | 2.19% | 2.07% | 1.87% | 1.78% | 1.80% | 1.81% | 1.75% |
| ▁█▇▅▅▆▇█ | NPA / Assets (%) | 0.27% | 0.54% | 0.49% | 0.43% | 0.44% | 0.49% | 0.52% | 0.57% |
| ▁▇▆▅▅▇██ | Net Charge-Off Ratio (%) | 0.36% | 0.68% | 0.63% | 0.60% | 0.60% | 0.67% | 0.72% | 0.75% |
| ▁▆▆▇▇▇██ | Tang. Book Value ($M) | $275 | $449 | $450 | $469 | $486 | $487 | $512 | $528 |
| ▁███████ | Gross Loans ($M) | $2,349 | $3,985 | $3,938 | $3,881 | $3,937 | $3,986 | $4,027 | $4,065 |
| ▁███████ | Total Deposits ($M) | $2,715 | $4,667 | $4,640 | $4,650 | $4,533 | $4,542 | $4,534 | $4,631 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 87% |
| C&I / Commercial | 11% |
| Other | 2% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 19% |
| Interest-Bearing (core) | 76% |
| Brokered / Other | 5% |