Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▲ | 1.32% | +0.07 | 1.25% |
| Return on Equity (%) | ▲ | 10.70% | +0.28 | 10.42% |
| Net Interest Margin (%) | ▲ | 3.60% | +0.43 | 3.17% |
| Efficiency Ratio (%) | ▼ | 61.95% | +5.67 | 56.28% |
| Pre-Provision Profit ($M) | ▲ | $14 | +0.72 | $14 |
| Cost of Funds (%) | ▲ | 1.89% | -0.26 | 2.15% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $3,726 | +212.63 | $3,513 |
| Gross Loans ($M) | ▲ | $2,914 | +164.17 | $2,750 |
| Loan Growth YoY (%) | ▲ | 100.61% | +2.69 | 97.91% |
| Total Deposits ($M) | ▲ | $2,862 | +88.02 | $2,774 |
| Shareholders Equity ($M) | ▲ | $456 | +41.01 | $415 |
| Tang. Book Value ($M) | ▲ | $447 | +41.02 | $406 |
| TBV excl. AOCI ($M)** | ▲ | $460 | +39.12 | $421 |
| Loan / Deposit Ratio (%) | ▲ | 100.61% | +2.69 | 97.91% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.07% | +0.07 | 0.00% |
| Allowance / Loans (%) | — | 1.18% | -0.04% | 1.22% |
| Net Charge-Off Ratio (%) | ▼ | 0.09% | +0.09 | 0.00% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▲ | 16.56% | +0.41 | 16.15% |
Noninterest income ($7.20M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▂▁▂▁▂▄▆█ | Net Interest Margin (%) | 3.23% | 3.15% | 3.22% | 3.17% | 3.25% | 3.37% | 3.44% | 3.60% |
| ▆▃▄▂▁██▇ | Return on Assets (%) | 1.31% | 1.27% | 1.28% | 1.25% | 1.23% | 1.34% | 1.35% | 1.32% |
| ▂▁▁▁▄▁▃█ | Efficiency Ratio (%) | 57.3% | 56.6% | 56.0% | 56.3% | 58.6% | 56.6% | 57.7% | 62.0% |
| ▆▄█▅▆▇▆▁ | Cost of Funds (%) | 2.22% | 2.07% | 2.35% | 2.15% | 2.21% | 2.27% | 2.21% | 1.89% |
| ▁▁▁▁█▁▇▂ | NPA / Assets (%) | 0.00% | 0.00% | 0.01% | 0.00% | 0.29% | 0.00% | 0.23% | 0.07% |
| ▁▁▁▁█▁▇▂ | Net Charge-Off Ratio (%) | 0.00% | 0.00% | 0.01% | 0.00% | 0.36% | 0.00% | 0.28% | 0.09% |
| ▁▂▃▄▅▆▇█ | Tang. Book Value ($M) | $378 | $392 | $395 | $406 | $415 | $429 | $439 | $447 |
| ▁▂▄▅▇███ | Gross Loans ($M) | $2,489 | $2,583 | $2,652 | $2,750 | $2,844 | $2,876 | $2,884 | $2,914 |
| ▁█▁▄▅▇▆▆ | Total Deposits ($M) | $2,588 | $3,029 | $2,575 | $2,774 | $2,806 | $2,958 | $2,862 | $2,862 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 65% |
| C&I / Commercial | 5% |
| Other | 30% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 28% |
| Interest-Bearing (core) | 53% |
| Brokered / Other | 18% |