Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 0.89% | +2.58 | -1.69% |
| Return on Equity (%) | ▲ | 7.64% | +28.98 | -21.34% |
| Net Interest Margin (%) | ▲ | 3.65% | +0.56 | 3.08% |
| Efficiency Ratio (%) | ▲ | 66.19% | -25.46 | 91.65% |
| Pre-Provision Profit ($M) | ▲ | $10 | +7.69 | $2 |
| Cost of Funds (%) | ▲ | 1.32% | -0.38 | 1.70% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $2,802 | +93.15 | $2,709 |
| Gross Loans ($M) | ▲ | $2,285 | +50.22 | $2,235 |
| Loan Growth YoY (%) | ▼ | 101.51% | -1.64 | 103.15% |
| Total Deposits ($M) | ▲ | $2,228 | +83.15 | $2,145 |
| Shareholders Equity ($M) | ▲ | $331 | +122.40 | $209 |
| Tang. Book Value ($M) | ▲ | $316 | +122.66 | $193 |
| TBV excl. AOCI ($M)** | ▲ | $331 | +124.19 | $207 |
| Loan / Deposit Ratio (%) | ▼ | 101.51% | -1.64 | 103.15% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.49% | +0.05 | 0.44% |
| Allowance / Loans (%) | — | 1.00% | 0.02% | 0.98% |
| Net Charge-Off Ratio (%) | ▼ | 0.60% | +0.06 | 0.53% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 15.18% | +5.09 | 10.09% |
Noninterest income ($4.24M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▁▁▂▂▄▅█ | Net Interest Margin (%) | 3.01% | 3.02% | 2.99% | 3.08% | 3.10% | 3.27% | 3.35% | 3.65% |
| ▇▇▇▁▄▆▆█ | Return on Assets (%) | 0.49% | 0.44% | 0.48% | -1.69% | -0.52% | -0.04% | 0.18% | 0.89% |
| ▅▅▄█▆▄▃▁ | Efficiency Ratio (%) | 81.4% | 80.1% | 78.3% | 91.7% | 83.0% | 76.4% | 73.6% | 66.2% |
| ▆▇█▅▂▂▁▁ | Cost of Funds (%) | 1.79% | 1.87% | 1.99% | 1.70% | 1.48% | 1.45% | 1.37% | 1.32% |
| ▁▁▁▅▄▇█▅ | NPA / Assets (%) | 0.17% | 0.16% | 0.16% | 0.44% | 0.38% | 0.63% | 0.71% | 0.49% |
| ▁▁▁▄▄▇█▅ | Net Charge-Off Ratio (%) | 0.21% | 0.20% | 0.20% | 0.53% | 0.50% | 0.77% | 0.88% | 0.60% |
| ▁▁▁▁▁███ | Tang. Book Value ($M) | $194 | $202 | $200 | $193 | $199 | $303 | $310 | $316 |
| ▁▂▃▅▆▇██ | Gross Loans ($M) | $2,147 | $2,183 | $2,201 | $2,235 | $2,249 | $2,276 | $2,299 | $2,285 |
| ▁▁▁▃█▃▄▄ | Total Deposits ($M) | $2,035 | $2,055 | $2,080 | $2,145 | $2,451 | $2,162 | $2,208 | $2,228 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 60% |
| C&I / Commercial | 39% |
| Other | 1% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 21% |
| Interest-Bearing (core) | 72% |
| Brokered / Other | 7% |