Whidbey Island Bank

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

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Balance Sheet ($000)
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Loans Held for Investment, before Reserves	1,044,097	1,074,361	(2.82)	1,070,473	(9.86)
Loans Held for Sale, before Reserves	11,106	10,011	10.94	18,043	(153.79)
Loan Loss Reserve	21,622	18,684	15.72	20,399	23.98
Net Loans Receivable	1,033,581	1,065,688	(3.01)	1,068,117	(12.93)
Intangible Assets	5,919	6,413	(7.70)	6,027	(7.17)
Total Assets	1,668,354	1,696,554	(1.66)	1,687,677	(4.58)
Deposits	1,441,675	1,486,025	(2.98)	1,462,973	(5.82)
Debt, Senior and Subordinated	25,774	25,774	0.00	25,774	0.00
Common Equity	184,286	173,715	6.09	182,624	3.64
Total Shareholders' Equity	184,286	173,715	6.09	182,624	3.64
Shares Outstanding (actual)	15,503,861	15,419,472	0.55	15,483,598	0.52

Income Statement ($000)
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Net Interest Income	18,182	21,302	(14.65)	19,854	(33.69)
Provision for Loan Losses	1,950	2,000	(2.50)	3,746	(191.78)
Noninterest Income	3,406	(1,295)	NM	3,801	(41.57)
Noninterest Expense	13,192	11,405	15.67	13,414	(6.62)
Net Income Before Taxes	6,711	6,944	(3.36)	6,739	(1.66)
Provision for Taxes	2,127	2,171	(2.03)	2,153	(4.83)
Net Income	4,584	4,773	(3.96)	4,586	(0.17)

Per Share Items ($)
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Book Value per Share	11.89	11.27	5.51	11.79	3.11
Tangible Book Value	11.50	10.85	6.03	11.41	3.48
Diluted EPS Before Extra	0.30	0.31	(3.23)	0.30	0.00
Diluted EPS After Extra	0.30	0.31	(3.23)	0.30	0.00
Dividends Declared	0.1500	0.1200	25.00	0.1500	0.00

Performance Ratios (%)
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
ROAA	1.11	1.15	(4)	1.09	2
ROAE	10.18	11.16	(98)	10.08	10
Net Interest Margin	4.84	5.81	(97)	5.23	(39)
Loans / Deposits	72.42	72.30	12	73.17	(75)
Efficiency Ratio	61.00	59.72	128	56.42	458

Balance Sheet Ratios (%)
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Tangible Equity/ Tangible Assets	10.73	9.90	83	10.50	23
Equity/ Assets	11.05	10.24	81	10.82	22

Asset Quality Ratios (%)
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Nonperforming Assets/ Assets	1.03	1.42	(39)	1.10	(7)
Loan Loss Reserves/ Gross Loans	2.05	1.72	33	1.87	18
Loan Loss Reserves/ NPAs	50.37	35.81	1,456	45.46	491
Net Charge-offs/ Avg Loans	0.31	0.99	(67)	0.44	(13)

Regulatory Capital Ratios (%)
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Tier 1 Capital Ratio	18.52	18.69	(17)	18.13	39

^† 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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