Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.07% | +0.13 | 0.94% |
| Return on Equity (%) | ▲ | 11.18% | +0.24 | 10.94% |
| Net Interest Margin (%) | ▲ | 3.06% | +0.19 | 2.86% |
| Efficiency Ratio (%) | ▲ | 58.03% | -3.49 | 61.51% |
| Pre-Provision Profit ($M) | ▲ | $27 | +4.18 | $23 |
| Cost of Funds (%) | ▲ | 2.23% | -0.18 | 2.42% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $7,470 | +115.53 | $7,354 |
| Gross Loans ($M) | ▲ | $5,893 | +90.19 | $5,803 |
| Loan Growth YoY (%) | ▼ | 99.34% | -0.81 | 100.15% |
| Total Deposits ($M) | ▲ | $5,850 | +128.93 | $5,721 |
| Shareholders Equity ($M) | ▲ | $718 | +83.82 | $634 |
| Tang. Book Value ($M) | ▲ | $718 | +83.82 | $634 |
| TBV excl. AOCI ($M)** | ▲ | $776 | +87.97 | $688 |
| Loan / Deposit Ratio (%) | ▼ | 99.34% | -0.81 | 100.15% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.13% | +0.08 | 0.05% |
| Allowance / Loans (%) | — | 1.38% | 0.12% | 1.26% |
| Net Charge-Off Ratio (%) | ▼ | 0.17% | +0.11 | 0.06% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 10.98% | +0.60 | 10.38% |
Noninterest income ($11.64M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▁▂▅▆▇██ | Net Interest Margin (%) | 2.60% | 2.65% | 2.71% | 2.86% | 2.92% | 2.96% | 3.00% | 3.06% |
| ▁▂▃▄▆▇██ | Return on Assets (%) | 0.79% | 0.86% | 0.88% | 0.94% | 0.99% | 1.06% | 1.10% | 1.07% |
| █▆▅▄▃▁▁▁ | Efficiency Ratio (%) | 66.5% | 63.5% | 61.9% | 61.5% | 59.8% | 58.1% | 57.4% | 58.0% |
| █▇▅▃▄▅▂▁ | Cost of Funds (%) | 2.85% | 2.74% | 2.61% | 2.42% | 2.47% | 2.61% | 2.37% | 2.23% |
| ▃▆▃▂▁▂▂█ | NPA / Assets (%) | 0.06% | 0.09% | 0.05% | 0.05% | 0.02% | 0.04% | 0.04% | 0.13% |
| ▃▆▂▂▁▂▂█ | Net Charge-Off Ratio (%) | 0.07% | 0.12% | 0.06% | 0.06% | 0.03% | 0.05% | 0.05% | 0.17% |
| ▁▃▂▄▅▇██ | Tang. Book Value ($M) | $582 | $623 | $613 | $634 | $655 | $689 | $716 | $718 |
| ▁▃▅▇█▇██ | Gross Loans ($M) | $5,279 | $5,514 | $5,685 | $5,803 | $5,937 | $5,852 | $5,894 | $5,893 |
| ▁▂▆▆▅▆█▇ | Total Deposits ($M) | $5,150 | $5,269 | $5,814 | $5,721 | $5,631 | $5,730 | $6,061 | $5,850 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 71% |
| C&I / Commercial | 22% |
| Other | 6% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 16% |
| Interest-Bearing (core) | 69% |
| Brokered / Other | 15% |