Quarterly Snapshot
| Metric | Q1'26 | YoY Δ | Q1'25 | |
|---|---|---|---|---|
| Profitability | ||||
| Return on Assets (%) | ▼ | 1.99% | -2.56 | 4.55% |
| Return on Equity (%) | ▼ | 13.88% | -7.99 | 21.87% |
| Net Interest Margin (%) | ▼ | 4.48% | -0.75 | 5.23% |
| Efficiency Ratio (%) | ▼ | 74.49% | +11.73 | 62.76% |
| Pre-Provision Profit ($M) | ▼ | $9 | -4.93 | $14 |
| Cost of Funds (%) | ▼ | 0.55% | +0.34 | 0.21% |
| Balance Sheet | ||||
| Total Assets ($M) | ▲ | $1,718 | +805.55 | $912 |
| Gross Loans ($M) | ▲ | $1,148 | +853.26 | $295 |
| Loan Growth YoY (%) | ▲ | 90.85% | +33.47 | 57.38% |
| Total Deposits ($M) | ▲ | $1,243 | +735.34 | $508 |
| Shareholders Equity ($M) | ▲ | $213 | +28.14 | $185 |
| Tang. Book Value ($M) | ▲ | $177 | +0.38 | $177 |
| TBV excl. AOCI ($M)** | ▲ | $185 | +1.29 | $183 |
| Loan / Deposit Ratio (%) | ▲ | 90.85% | +33.47 | 57.38% |
| Credit Quality | ||||
| NPA / Total Assets (%) | ▲ | 0.32% | -0.02 | 0.35% |
| Allowance / Loans (%) | — | 1.63% | 0.45% | 1.18% |
| Net Charge-Off Ratio (%) | ▲ | 0.48% | -0.59 | 1.07% |
| Capital | ||||
| Tier 1 Capital Ratio (%) | — | 0.00% | 0.00 | 0.00% |
Noninterest income ($21.40M) is materially above the typical range relative to net interest income. This may include one-time items. Efficiency ratio may not reflect recurring earnings power.
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
| Metric | Q2'24 | Q3'24 | Q4'24 | Q1'25 | Q2'25 | Q3'25 | Q4'25 | Q1'26 | |
|---|---|---|---|---|---|---|---|---|---|
| ▇██▅▇▆▆▁ | Net Interest Margin (%) | 5.68% | 5.89% | 5.96% | 5.23% | 5.60% | 5.44% | 5.47% | 4.48% |
| ██▇▄▄▄▃▁ | Return on Assets (%) | 7.71% | 7.71% | 6.99% | 4.55% | 4.73% | 4.28% | 3.92% | 1.99% |
| ▁▁▁▄▄▄▅█ | Efficiency Ratio (%) | 56.3% | 54.5% | 56.8% | 62.8% | 62.8% | 64.4% | 66.1% | 74.5% |
| ▂▁▁▂▄▆█▇ | Cost of Funds (%) | 0.23% | 0.14% | 0.20% | 0.21% | 0.35% | 0.50% | 0.68% | 0.55% |
| ▁▂█▅█▆▂▄ | NPA / Assets (%) | 0.25% | 0.29% | 0.41% | 0.35% | 0.43% | 0.37% | 0.28% | 0.32% |
| ▆██▇▇▄▁▁ | Net Charge-Off Ratio (%) | 1.02% | 1.17% | 1.26% | 1.07% | 1.09% | 0.82% | 0.50% | 0.48% |
| ▁▃▄▆▇█▄▆ | Tang. Book Value ($M) | $140 | $157 | $167 | $177 | $188 | $197 | $168 | $177 |
| ▁▁▁▁▂▃▃█ | Gross Loans ($M) | $197 | $217 | $264 | $295 | $369 | $473 | $542 | $1,148 |
| ▁▁▁▁▁▃▂█ | Total Deposits ($M) | $473 | $534 | $457 | $508 | $547 | $673 | $638 | $1,243 |
Portfolio Composition — Q1'26
| Loan Mix | % |
|---|---|
| Real Estate | 90% |
| C&I / Commercial | 6% |
| Agricultural | 2% |
| Other | 1% |
| Deposit Mix | % |
|---|---|
| Nonint.-Bearing Demand | 35% |
| Interest-Bearing (core) | 59% |
| Brokered / Other | 6% |