Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▼ | 1.38% | -2.37 | 3.76% |
| Return on Equity (%) | ▼ | 12.69% | -23.73 | 36.42% |
| Net Interest Margin (%) | ▲ | 3.65% | +0.13 | 3.52% |
| Efficiency Ratio (%) | ▲ | 64.01% | -6.14 | 70.16% |
| Pre-Provision Profit ($M) | ▲ | $14 | +3.16 | $10 |
| Cost of Funds (%) | ▲ | 1.32% | -0.26 | 1.59% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $3,409 | +248.77 | $3,160 |
| Gross Loans ($M) | ▲ | $1,733 | +110.77 | $1,622 |
| Loan Growth YoY (%) | ▼ | 56.51% | -0.98 | 57.49% |
| Total Deposits ($M) | ▲ | $3,027 | +243.58 | $2,784 |
| Shareholders Equity ($M) | ▲ | $368 | +26.38 | $341 |
| Tang. Book Value ($M) | ▲ | $367 | +26.47 | $340 |
| TBV excl. AOCI ($M)** | ▲ | $418 | +30.77 | $387 |
| Loan / Deposit Ratio (%) | ▼ | 56.51% | -0.98 | 57.49% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▼ | 0.38% | +0.12 | 0.26% |
| Allowance / Loans (%) | — | 1.29% | -0.06% | 1.35% |
| Net Charge-Off Ratio (%) | ▼ | 0.69% | +0.22 | 0.47% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▼ | 19.90% | -1.42 | 21.33% |
Noninterest income ($9.33M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▆█▆▁▄▇█▇ | Net Interest Margin (%) | 3.64% | 3.68% | 3.64% | 3.52% | 3.60% | 3.65% | 3.69% | 3.65% |
| ▁▁▁█▄▃▂▁ | Return on Assets (%) | 1.42% | 1.43% | 1.45% | 3.76% | 2.50% | 2.10% | 1.94% | 1.38% |
| ▇▇▆█▇▆▄▁ | Efficiency Ratio (%) | 69.0% | 68.9% | 68.5% | 70.2% | 68.6% | 68.0% | 66.5% | 64.0% |
| ▆▆████▄▁ | Cost of Funds (%) | 1.50% | 1.52% | 1.57% | 1.59% | 1.58% | 1.57% | 1.43% | 1.32% |
| ▇█▁▁▂▃▁▂ | NPA / Assets (%) | 0.69% | 0.81% | 0.25% | 0.26% | 0.32% | 0.40% | 0.30% | 0.38% |
| ▃█▁▁▃▅▂▆ | Net Charge-Off Ratio (%) | 0.58% | 0.78% | 0.46% | 0.47% | 0.57% | 0.65% | 0.51% | 0.69% |
| ▁▅▁▅▂▅██ | Tang. Book Value ($M) | $303 | $337 | $310 | $340 | $319 | $342 | $361 | $367 |
| ▁▂▅▅████ | Gross Loans ($M) | $1,498 | $1,542 | $1,616 | $1,622 | $1,705 | $1,710 | $1,709 | $1,733 |
| ▁▁▄▄▅▅▆█ | Total Deposits ($M) | $2,655 | $2,615 | $2,815 | $2,784 | $2,864 | $2,838 | $2,906 | $3,027 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 88% |
| C&I / Commercial | 7% |
| Consumer | 1% |
| Other | 4% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 22% |
| Interest-Bearing (core) | 65% |
| Brokered / Other | 13% |