Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.18% | +0.02 | 1.15% |
| Return on Equity (%) | ▼ | 12.12% | -0.97 | 13.09% |
| Net Interest Margin (%) | ▲ | 4.41% | +0.37 | 4.04% |
| Efficiency Ratio (%) | ▼ | 68.08% | +1.63 | 66.45% |
| Pre-Provision Profit ($M) | ▲ | $9 | +0.69 | $9 |
| Cost of Funds (%) | ▲ | 1.01% | -0.15 | 1.16% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $2,346 | +84.58 | $2,261 |
| Gross Loans ($M) | ▲ | $1,752 | +170.43 | $1,582 |
| Loan Growth YoY (%) | ▲ | 82.76% | +6.12 | 76.64% |
| Total Deposits ($M) | ▲ | $2,092 | +54.44 | $2,037 |
| Shareholders Equity ($M) | ▲ | $225 | +24.51 | $200 |
| Tang. Book Value ($M) | ▲ | $191 | +24.89 | $166 |
| TBV excl. AOCI ($M)** | ▲ | $210 | +25.20 | $185 |
| Loan / Deposit Ratio (%) | ▲ | 82.76% | +6.12 | 76.64% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.23% | +0.18 | 0.05% |
| Allowance / Loans (%) | — | 1.23% | -0.08% | 1.31% |
| Net Charge-Off Ratio (%) | ▼ | 0.12% | +0.05 | 0.07% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▼ | 11.52% | -0.24 | 11.75% |
Noninterest income ($6.03M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▁▁▄▅▆▇█ | Net Interest Margin (%) | 3.80% | 3.82% | 3.87% | 4.04% | 4.16% | 4.25% | 4.29% | 4.41% |
| ▁▄▆▄▅▆█▅ | Return on Assets (%) | 1.06% | 1.17% | 1.22% | 1.15% | 1.20% | 1.23% | 1.29% | 1.18% |
| ▅▂▁▅▄▄▄█ | Efficiency Ratio (%) | 66.4% | 65.3% | 64.6% | 66.4% | 66.0% | 66.1% | 66.0% | 68.1% |
| ▇█▆▄▄▄▃▁ | Cost of Funds (%) | 1.31% | 1.38% | 1.26% | 1.16% | 1.18% | 1.17% | 1.12% | 1.01% |
| ▁▂▂▁▁▁██ | NPA / Assets (%) | 0.04% | 0.08% | 0.07% | 0.05% | 0.06% | 0.04% | 0.21% | 0.23% |
| ▁▅▂▂▃▁█▅ | Net Charge-Off Ratio (%) | 0.05% | 0.11% | 0.08% | 0.07% | 0.08% | 0.05% | 0.17% | 0.12% |
| ▁▃▂▄▅▇██ | Tang. Book Value ($M) | $148 | $163 | $158 | $166 | $172 | $181 | $190 | $191 |
| ▁▁▂▃▄▆▇█ | Gross Loans ($M) | $1,528 | $1,522 | $1,563 | $1,582 | $1,621 | $1,668 | $1,697 | $1,752 |
| ▂▁▄▆▆▅▆█ | Total Deposits ($M) | $1,930 | $1,888 | $1,978 | $2,037 | $2,030 | $1,996 | $2,016 | $2,092 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 90% |
| C&I / Commercial | 8% |
| Consumer | 1% |
| Other | 1% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 32% |
| Interest-Bearing (core) | 62% |
| Brokered / Other | 5% |