On April 23, central California bank Capital Corp. of the West
- Net income decreased 28% to $3.98 million in what management called an "aggressive lending environment." CEO Tom Hawker had decided to avoid costly price wars with other banks on loans and deposits.
- Net interest margin decreased 74 basis points to 3.98%, although margins are expected to flatten out in the latter half of the year.
- Tell us what you think about Capital Corp. of the West in Motley Fool CAPS, our community intelligence database. Also check CAPS for investor pitches on fellow West-coast banks City National
(NYSE:CYN) and Downey Financial(NYSE:DSL) .
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Total Revenue |
$19,503.0 |
$20,990.0 |
(7.1%) |
|
Net Interest Income |
$16,744.0 |
$18,358.0 |
(8.8%) |
|
Net Profit |
$3,976.0 |
$5,557.0 |
(28.5%) |
|
EPS |
$0.36 |
$0.51 |
(29.4%) |
Get back to basics with a look at the income statement.
Ratio Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Net Interest Margin |
3.98% |
4.72% |
(0.74%) |
|
Efficiency Ratio |
71.00% |
59.00% |
12.00% |
|
Nonperforming Assets / Assets |
0.82% |
0.18% |
0.65% |
|
Return on Average Assets |
0.84% |
1.28% |
(0.44%) |
|
Return on Average Equity |
10.68% |
17.63% |
(6.95%) |
Find out more about bank performance ratios.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Investments |
$414,743 |
$482,773 |
(14.1%) |
|
Loans |
$1,235,419 |
$1,168,880 |
5.7% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Deposits |
$1,534,505 |
$1,418,134 |
8.2% |
|
Total Liabilities |
$1,704,962 |
$1,661,140 |
2.6% |
Learn about bank assets and bank liabilities.
Related Foolishness:
- Zions Slows to a Crawl
- National City Primed for Growth?
- Small Banks Need Love, Too: Capital Corp. of the West
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