CMS Case Study

IV. Situational Analysis: Internal

A.

Historical Financial Performance

The following chart provides bank-level financial highlights for the years ended December 31, 2011 to 2019 and the 12 months ended June 30, 2020.

LTM

Year Ended December 31,

Dollars in thousands.

2011

2012

2013

2014

2015

2016

2017

2018

2019 6/30/2020

Balance Sheet Highlights Total Assets

$286,806 $301,201 $315,933 $357,341 $380,351 $414,180 $452,039 $519,569 $559,654 $692,192 195,216 206,731 227,932 239,873 250,928 271,580 298,425 322,946 359,075 407,158

Total Loans & Leases (Incl HFI & HFS)

Loan Growth Rate (%)

(2.43)

5.90

10.26

5.24

4.61

8.23

9.88

8.22

11.19

23.93

Total Deposits (Incl Dom & For) Deposit Growth Rate (%) Loans/ Deposits (%) Memo: Full-time Employees

241,088 252,969 269,502 296,396 313,457 345,704 389,190 438,259 476,600 583,437

(3.07) 80.97

4.93

6.54

9.98

5.76

10.29 78.56

12.58 76.68

12.61 73.69

8.75

28.19 69.79

80.93

80.05

75.34

81.72

84.58

92

89

91

92

92

96

111

112

113

116

Performance Measures Net Income

$2,318 $2,629 $2,804 $3,004 $3,484 $3,131 $3,486 $4,778 $6,006 $6,249

0.81 8.43 0.78 3.08 4.40 4.21

0.90 8.71 0.68 3.23 4.45 4.27

0.90 8.94 0.70 3.04 4.27 4.11

0.90 9.13 0.80 2.98 4.26 4.13

0.95 9.87 0.68 3.10 4.06 3.94

0.80 8.37 0.67 3.05 3.94 3.84

0.80 8.23 0.62 2.92 3.90 3.77

0.99

1.14

1.08

ROAA (%) ROAE (%)

10.93

11.56

11.12

Noninterest Income/ Average Assets (%) Noninterest Expense/ Avg Assets (%)

0.67 2.90 3.69 3.46

0.86 2.83 3.78 3.49

0.72 2.64 3.67 3.40

Net Interest Margin (%) Yield/ Cost Spread (%) Efficiency Ratio (FTE) (%)

62.48

66.11

64.53

62.26

68.40

69.28

68.50

71.01

65.13

64.16

Capitalization Tangible Equity Equity/ Assets (%)

$29,025 $31,103 $31,607 $34,292 $36,394 $35,983 $43,313 $46,920 $55,923 $64,478

10.12 13.89 12.78

10.33 13.74 12.61

10.00 13.64 12.49

9.60

9.57

8.69

9.58

9.03

9.99

9.32

Risk Based Capital Ratio (%) Tier 1 Risk-based Ratio (%)

13.27 12.05

13.55 12.49

12.76 11.79

13.80 12.81

13.99 12.99

14.88 13.63

15.79 14.54

Asset Quality (%) NPLs/ Loans

2.13 1.86 1.42 0.66 5.54 2.81 4.82 0.62 1.93 0.68 0.45 4.13

1.17 1.09 1.22 0.46 5.32 2.67 4.56 0.56 1.36 0.62 0.41 3.94

0.78 0.64 1.11 0.51 5.20 2.55 4.44 0.54 1.26 0.60 0.43 3.84

0.60 0.46 1.13 0.29 5.17 2.56 4.45 0.61 1.70 0.68 0.46 3.77

0.14 0.09 1.14 0.07 5.36 2.73 4.48 1.00 1.60 1.02 0.67 3.46

0.50 0.32 1.39 0.05 5.58 2.87 4.72 1.23 1.28 1.23 0.78 3.49

0.66 0.39 1.37 0.06 5.43 2.76 4.45 1.06 0.78 1.04 0.64 3.40

0.74 1.70 1.27 1.10 6.52 3.03 5.55 1.25 2.71 1.34 1.04 4.21

1.52 1.46 1.31 0.41 6.38 2.64 5.29 0.90 2.70 1.02 0.74 4.27

1.92 1.73 1.31 0.40 5.89 2.59 4.97 0.75 2.55 0.86 0.59 4.11

NPAs/ Assets

Loan Loss Reserves/ Gross Loans

Net Chargeoffs/ Avg Loans

Yields/Cost (%) Yield on Total Loans and Leases Yield on Debt and Equity Securities

Yield on Earning Assets Cost of Int-bearing Deposits

Cost of Borrowings

Cost of Interest-bearing Liabilities

Cost of Funds

Yield/ Cost Spread

Source: S&P Global Market Intelligence

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