Exhibit 99.4
Commercial Capital Bancorp, Inc. (CCBI)
Year ended
For three months ended: December 31,
12/31/02 9/30/02 6/30/02 3/31/02 12/31/01 2002 2001
PER SHARE DATA
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Fully Diluted EPS Before
Extra Items 0.31 0.27 0.24 0.17 0.08 1.00 0.18
Dividend Declared 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book Value 5.55 4.24 3.73 3.15 3.03 5.55 3.03
Tangible Book Value 4.62 2.78 2.28 1.70 1.56 4.62 1.56
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INCOME STATEMENT ($ 000's)
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Interest Income 11,406 10,719 9,286 7,156 4,954 38,567 15,879
Interest Expense 5,136 5,086 4,265 3,162 2,441 17,649 9,248
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Net Interest Income 6,270 5,633 5,021 3,994 2,513 20,918 6,631
Loan Loss Provision 358 437 293 521 283 1,609 686
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Net Interest Income After LLP 5,912 5,196 4,728 3,473 2,230 19,309 5,945
Non-Interest Revenues:
Securities Gains 396 574 56 0 932 1,026 1,424
Gain on Sale of Loans 1,595 1,096 1,118 768 735 4,577 2,671
Other 624 837 246 305 92 2,012 847
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Total Non-Interest Revenue 2,615 2,507 1,420 1,073 1,759 7,615 4,942
Non-Interest Expense:
Compensation & Benefits 1,618 1,624 1,120 1,064 1,711 5,426 4,206
Occupancy 199 190 148 145 149 682 581
Other Expense 904 1,061 902 653 468 3,520 1,972
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Total Non-Interest Expense 2,721 2,875 2,170 1,862 2,328 9,628 6,759
Nonrecurring Expense(1) 395 508 0 0 190 903 748
Pre-Tax Earnings 5,411 4,320 3,978 2,684 1,471 16,393 3,380
Reported Taxes 2,202 1,696 1,646 1,139 694 6,683 1,716
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Net Income Before Minority Interest 3,209 2,624 2,332 1,545 777 9,710 1,664
Minority Interest 0 0 0 0 49 0 108
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Net Income 3,209 2,624 2,332 1,545 728 9,710 1,556
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BALANCE SHEET (End of Period) ($ 000's)
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Total Assets 849,469 752,959 649,116 602,208 423,691 849,469 423,691
Loans Held for Investment, net of
allowance 469,186 406,477 333,896 282,316 188,797 469,186 188,797
Loans Held for Sale 18,338 40,914 45,028 43,156 52,379 18,338 52,379
Securities 310,074 238,264 228,162 176,641 119,685 310,074 119,685
Deposits 312,279 328,073 256,165 173,328 118,339 312,279 118,339
Equity 77,603 37,989 33,411 28,239 26,802 77,603 26,802
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BALANCE SHEET AVERAGES ($ 000's)
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Loans Held for Investment
and Sale(2) 477,054 412,128 362,714 283,190 198,909 381,894 152,583
Investment Securities, MBS
& Other 290,665 278,837 217,254 155,992 91,659 237,563 64,468
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Total Interest Earning Assets 767,719 690,965 579,968 439,182 290,568 619,457 217,051
Non-Interest Earning Assets 38,182 30,788 24,618 17,808 17,487 27,851 17,405
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Total Assets 805,901 721,753 604,586 456,990 308,055 647,308 234,456
Deposits 320,251 303,536 211,150 146,193 113,361 312,279 118,339
Common Equity 44,217 35,959 31,151 28,918 27,496 35,061 26,020
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PROFITABILITY RATIOS (%)(3)
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Return on Average Assets 1.59 1.45 1.54 1.35 0.95 1.50 0.66
Return on Average Common Equity 29.03 29.19 29.94 21.37 10.59 27.69 5.98
Net Interest Margin 3.27 3.26 3.46 3.64 3.46 3.38 3.06
Efficiency Ratio 32.05 38.00 33.99 36.75 69.62 35.00 66.60
Effective Tax Rate 40.69% 39.26% 41.38% 42.44% 47.18% 40.77% 50.77%
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CAPITAL ADEQUACY RATIOS (%)
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Tangible Equity to Assets 7.60 3.31 3.14 2.53 3.25 7.60 3.25
Core Capital / Risk Assets - Bank 19.43 12.07 14.23 17.25 14.09 19.43 14.09
Risk Based Capital Ratio - Bank 20.03 12.68 14.86 17.92 14.73 20.03 14.73
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ASSET QUALITY DATA
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Net Charge Offs (Recoveries) ($000's) 0 0 0 0 (1) 0 (1)
As a % of Avg Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Non-Accrual Loans ($000's) 0 0 0 0 0 0 0
Reneg or Restructured Loans ($000's) 0 0 0 0 0 0 0
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Non-performing Loans ($000's) 0 0 0 0 0 0 0
Other Real-Estate Owned ($000's) 0 0 0 0 0 0 0
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Non-Performing Assets ($000's) 0 0 0 0 0 0 0
As a % of Period-End Loans & OREO 0.00 0.00 0.00 0.00 0.00 0 0.00
Loan Loss Reserve ($000's) 2,716 2,358 1,921 1,628 1,107 2,716 1,107
As a % of Period-End Loans, Net 0.58 0.58 0.57 0.57 0.58 0.58 0.58
As a % of Non-Performing Loans NM NM NM NM NM NM NM
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LOAN ORIGINATIONS
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Consolidated 200,258 189,290 179,126 192,071 138,569 760,745 494,897
FIPMC only 199,208 185,490 179,012 184,921 136,894 748,631 483,048
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(1) Includes loss on early extinguishment of debt for 2002 periods and
amortization of goodwill in 2001 periods.
(2) Excludes the allowance for loan losses
(3) For comparability, exclude effect of non-recurring expenses.
Sandler O'Neill Equity Research