Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▼ | 1.13% | -0.20 | 1.33% |
| Return on Equity (%) | ▼ | 11.87% | -2.12 | 13.99% |
| Net Interest Margin (%) | ▲ | 4.51% | +0.10 | 4.41% |
| Efficiency Ratio (%) | ▼ | 64.82% | +2.54 | 62.28% |
| Pre-Provision Profit ($M) | ▲ | $5 | +0.61 | $4 |
| Cost of Funds (%) | ▲ | 1.96% | -0.17 | 2.13% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $1,173 | +203.58 | $969 |
| Gross Loans ($M) | ▲ | $742 | +97.96 | $644 |
| Loan Growth YoY (%) | ▼ | 71.13% | -4.12 | 75.25% |
| Total Deposits ($M) | ▲ | $1,029 | +184.88 | $844 |
| Shareholders Equity ($M) | ▲ | $113 | +18.84 | $94 |
| Tang. Book Value ($M) | ▲ | $112 | +17.67 | $94 |
| TBV excl. AOCI ($M)** | ▲ | $123 | +22.44 | $100 |
| Loan / Deposit Ratio (%) | ▼ | 71.13% | -4.12 | 75.25% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▲ | 0.25% | -0.11 | 0.36% |
| Allowance / Loans (%) | — | 1.43% | -0.02% | 1.45% |
| Net Charge-Off Ratio (%) | ▼ | 0.28% | +0.15 | 0.13% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | ▼ | 14.93% | -0.21 | 15.13% |
Noninterest income ($1.91M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▁▂▄▆███▇ | Net Interest Margin (%) | 4.03% | 4.14% | 4.29% | 4.41% | 4.55% | 4.61% | 4.59% | 4.51% |
| ▁▂▂▇███▄ | Return on Assets (%) | 0.85% | 0.96% | 0.98% | 1.33% | 1.37% | 1.38% | 1.41% | 1.13% |
| █▆▇▁▁▁▁▄ | Efficiency Ratio (%) | 68.5% | 66.2% | 67.2% | 62.3% | 62.3% | 62.2% | 62.9% | 64.8% |
| █▆▄▄▄▃▁▂ | Cost of Funds (%) | 2.44% | 2.29% | 2.12% | 2.13% | 2.10% | 2.04% | 1.89% | 1.96% |
| ██▇▄▃▄▁▁ | NPA / Assets (%) | 0.50% | 0.50% | 0.44% | 0.36% | 0.31% | 0.35% | 0.25% | 0.25% |
| ██▇▁▄▄▃▃ | Net Charge-Off Ratio (%) | 0.64% | 0.61% | 0.53% | 0.13% | 0.35% | 0.35% | 0.29% | 0.28% |
| ▁▂▂▄▅▆██ | Tang. Book Value ($M) | $82 | $89 | $89 | $94 | $97 | $102 | $109 | $112 |
| ▁▃▄▄▆▆██ | Gross Loans ($M) | $547 | $620 | $628 | $644 | $671 | $689 | $736 | $742 |
| ▁▂▃▄▄▅██ | Total Deposits ($M) | $728 | $767 | $804 | $844 | $851 | $910 | $1,008 | $1,029 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 81% |
| C&I / Commercial | 17% |
| Consumer | 2% |
| Other | 1% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 28% |
| Interest-Bearing (core) | 52% |
| Brokered / Other | 20% |