Cowlitz Bank

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Trend Analysis--Quarterly (click here for Annual Analysis)

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Balance Sheet ($000)
	2009 Q3	2008 Q3	Y-Y Ch (%)	2009 Q2	Q-Q Ch (%)^†
Loans Held for Investment, before Reserves	374,361	436,684	(14.27)	399,211	(24.90)
Loans Held for Sale, before Reserves	0	0	0.00	0	0.00
Loan Loss Reserve	11,227	13,859	(18.99)	8,291	141.65
Net Loans Receivable	363,134	422,825	(14.12)	390,920	(28.43)
Intangible Assets	1,798	1,798	0.00	1,798	0.00
Total Assets	578,287	565,335	2.29	580,363	(1.43)
Deposits	535,479	501,358	6.81	530,481	3.77
Debt, Senior and Subordinated	12,387	12,866	(3.72)	12,398	(0.35)
Common Equity	25,954	46,372	(44.03)	32,504	(80.61)
Total Shareholders' Equity	25,954	46,372	(44.03)	32,504	(80.61)
Shares Outstanding (actual)	5,133,945	5,067,379	1.31	5,133,945	0.00

Income Statement ($000)
	2009 Q3	2008 Q3	Y-Y Ch (%)	2009 Q2	Q-Q Ch (%)^†
Net Interest Income	3,669	5,584	(34.29)	3,836	(17.41)
Provision for Loan Losses	6,368	2,300	176.87	3,695	289.36
Noninterest Income	3,905	892	337.78	834	1,472.90
Noninterest Expense	5,270	4,727	11.49	5,578	(22.09)
Net Income Before Taxes	(4,062)	(1,963)	106.93	(4,827)	(63.39)
Provision for Taxes	0	(367)	NM	10,608	NM
Net Income	(4,062)	(1,596)	154.51	(15,435)	(294.73)

Per Share Items ($)
	2009 Q3	2008 Q3	Y-Y Ch (%)	2009 Q2	Q-Q Ch (%)^†
Book Value per Share	5.06	9.15	(44.70)	6.33	(80.25)
Tangible Book Value	4.71	8.80	(46.45)	5.98	(84.98)
Diluted EPS Before Extra	(0.79)	(0.31)	154.84	(3.01)	(295.02)
Diluted EPS After Extra	(0.79)	(0.31)	154.84	(3.01)	(295.02)
Dividends Declared	0.0000	0.0000	0.00	0.0000	0.00

Performance Ratios (%)
	2009 Q3	2008 Q3	Y-Y Ch (bp)	2009 Q2	Q-Q Ch (bp)
ROAA	(2.75)	(1.18)	(157)	(10.33)	758
ROAE	(54.30)	(13.26)	(4,104)	(139.75)	8,545
Net Interest Margin	2.77	4.62	(185)	2.89	(12)
Loans / Deposits	69.91	87.10	(1,719)	75.25	(534)
Efficiency Ratio	65.94	65.35	59	111.22	(4,528)

Balance Sheet Ratios (%)
	2009 Q3	2008 Q3	Y-Y Ch (bp)	2009 Q2	Q-Q Ch (bp)
Tangible Equity/ Tangible Assets	4.19	7.91	(372)	5.31	(112)
Equity/ Assets	4.49	8.20	(371)	5.60	(111)

Asset Quality Ratios (%)
	2009 Q3	2008 Q3	Y-Y Ch (bp)	2009 Q2	Q-Q Ch (bp)
Nonperforming Assets/ Assets	10.62	2.09	853	10.54	8
Loan Loss Reserves/ Gross Loans	3.00	3.17	(17)	2.08	92
Loan Loss Reserves/ NPAs	18.27	117.34	(9,907)	13.55	472
Net Charge-offs/ Avg Loans	3.59	2.09	151	3.72	(12)

Regulatory Capital Ratios (%)
	2009 Q3	2008 Q3	Y-Y Ch (bp)	2009 Q2	Q-Q Ch (bp)
Tier 1 Capital Ratio	7.36	10.36	(300)	8.49	(113)

^† Q-Q Ch(%)= most recent quarter minus prior quarter annualized e.g. [(Q4-Q3)/Q3]*4

*	Percentages presented for individual quarters are annualized by taking the quarter amount and multiplying by four.


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