UCBH Holdings, Inc. Reports Second Quarter Results.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- UCBH Holdings, Inc. (Nasdaq:UCBH): --Topline Growth of 16.64% --Net Interest Income Growth of 10.74% --Loan Originations of $923.9 Million and Loan Pipeline of $1.91 Billion --84.6% Annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. Increase in Commercial Business Loans --102.4% Annualized Increase in Construction Loans UCBH Holdings, Inc. (Nasdaq:UCBH), the holding company of United Commercial Bank (UCB UCB - University of California at Berkeley (TM)), today reported net income of $25.4 million for the second quarter ended June June: see month. 30, 2006. The reported net income for the second quarter of 2005 was $25.4 million, which included a $3.9 million tax benefit from the repatriation Repatriation The process of converting a foreign currency into the currency of one's own country. Notes: If you are American, converting British Pounds back to U.S. dollars is an example of repatriation. of earnings from a foreign subsidiary of the Bank. Net income before tax was $37.8 million for the second quarter of 2006, compared with $33.1 million for the second quarter of 2005, an increase of $4.7 million, or 14.2%. The diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. earnings per common share were $0.26 for the second quarter of 2006, compared with $0.27 for the corresponding period of 2005. The tax benefit from the 2005 repatriation resulted in an increase in diluted earnings per common share of $0.04 for the second quarter of 2005. Chairman, President and Chief Executive Officer, Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs S. Wu said, "We are on track in executing our five-year strategic plan as announced last year. We have been very successful in growing the higher-yielding commercial business loans and construction loans while reducing the concentration in commercial real estate loans and lower-yielding multifamily loans Multifamily loans Loans usually represented by conventional mortgages on multi-family rental apartments. . With a record commercial business and construction loan pipeline, we project strong commercial business and construction loan originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. in the second half of 2006. "Our expanding geographic geographic /geo·graph·ic/ (je?o-graf´ik) in pathology, of or referring to a pattern that is well demarcated, resembling outlines on a map. geographic pertaining to geography. presence in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Greater China, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , the Pacific Northwest For names and places containing the slightly longer word 'northwestern' (or variants), see . Northwest or north west is the ordinal direction halfway between north and west on a compass. It is the opposite of southeast. and New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. has allowed us to expand our products and services into these growth markets, resulting in increased trade finance activities, growth in commercial checking accounts and increases in fee income. Our unique franchise provides a significant competitive advantage in gaining market share, and we will continue to make investments diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d to ensure that we capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. our opportunities in these markets," concluded Mr. Wu. Second quarter 2006 highlights include: Revenue Growth: --Net interest income increased by $6.4 million, or 10.7%, for the second quarter of 2006, compared with the corresponding quarter of 2005. --Noninterest income increased by $4.5 million, or 78.7%, for the second quarter of 2006, compared with the corresponding quarter of 2005. --The net interest margin for the second quarter of 2006 was 3.50%, compared with 3.74% for the second quarter of 2005 and 3.54% for the first quarter of 2006. Deposit Growth: --Noninterest checking accounts increased by $23.2 million for the second quarter of 2006, or 17.0% annualized. --Core deposits increased by $68.3 million for the second quarter of 2006, or 10.1% annualized. --Certificates of Deposit ("CDs") decreased by $105.5 million, or 11.8% annualized, for the second quarter of 2006. --Total deposits decreased by $37.2 million for the second quarter of 2006, or 2.4% annualized. Loan Growth: --Loans held in portfolio increased by $241.4 million for the second quarter of 2006, or 16.9% annualized. --Commercial business loans increased by $196.8 million, or 84.6% annualized, during the second quarter of 2006. --Construction loans increased by $144.6 million, or 102.4% annualized, during the second quarter of 2006. New Loan Commitments: --New loan commitments were $923.9 million for the second quarter of 2006, compared with $1.19 billion in the second quarter of 2005. The loan commitments in the second quarter of 2006 were concentrated in commercial business and construction commitments, compared with a real estate loan concentration in the second quarter of 2005 originations. --New commercial business loan commitments were $332.2 million, an increase of $165.6 million, or 99.4%, compared with commercial business loan commitments of $166.6 million for the second quarter of 2005. The loan commitments in the second quarter of 2006 are expected to continue to be drawn upon during the balance of 2006 and into 2007. --New construction loan commitments were $307.0 million, an increase of $141.0 million, or 84.9%, compared with construction loan commitments of $166.0 million for the second quarter of 2005. The loan commitments in the second quarter of 2006 are expected to be drawn upon during the balance of 2006 and in 2007. Asset Quality: --The nonperforming asset Nonperforming asset An asset that is not effectively producing income, such as an overdue loan. nonperforming asset An asset that produces no income. ratio was 0.19% as of June 30, 2006, compared with a nonperforming asset ratio of 0.24% at year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. 2005 and 0.17% at June 30, 2005. --Net loan charge-offs were $2.5 million for the second quarter of 2006, or 0.16% annualized. This compares with a net loan recovery of $45,000 for the second quarter of 2005. The second quarter 2006 loan charge-offs were isolated almost exclusively in two commercial business loans which were fully reserved. --The provision for loan losses was $1.2 million for the second quarter of 2006, compared with $1.8 million for the corresponding quarter of 2005. Corporate Strategies: The Company's strategy is to improve profitability by restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). its balance sheet towards higher-yielding assets and building its base of lower-cost core deposits. In addition, it seeks to expand its presence in geographical ge·o·graph·ic also ge·o·graph·i·cal adj. 1. Of or relating to geography. 2. Concerning the topography of a specific region. ge areas serving the Chinese Chinese, subfamily of the Sino-Tibetan family of languages (see Sino-Tibetan languages), which is also sometimes grouped with the Tai, or Thai, languages in a Sinitic subfamily of the Sino-Tibetan language stock. community and American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of companies doing business in Greater China. Specifically, --The Company remains focused on restructuring its loan portfolio by increasing higher-yielding commercial business and construction loan commitments, and reducing real estate loan concentration in California. --The Company plans to increase its commercial business loan commitments, primarily international trade finance, and construction loan commitments, which will also have a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. impact on generating noninterest-bearing checking accounts as those types of loans typically carry higher DDA DDA Disability Discrimination Act (1995, UK) DDA Downtown Development Authority DDA Doha Development Agenda DDA Delhi Development Authority DDA Department for Disarmament Affairs DDA Demand Deposit Account DDA Domain Defined Attribute balances than do real estate loans. In addition, international trade finance loans generate trade fee income for the Bank and boost noninterest income and diversifying the income stream of UCBH. --The Company is actively engaged in the gathering of core deposit accounts through the increase in commercial business lending activities and ongoing retail banking strategies. --The Company plans to open one branch in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, and one branch in Greater New York in the second half of the year. Operating Ratios Operating Ratio A ratio that shows the efficiency of management by comparing operating expense to net sales: The annualized return on average assets ("ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). ") ratio for the quarter ended June 30, 2006, was 1.25%, and the annualized return on average equity ("ROE A fictitious surname used for an unknown or anonymous person or for a hypothetical person in an illustration. A lawsuit is generally named for the persons who are parties to it. ") ratio for the quarter ended June 30, 2006, was 16.2%. The ROA and ROE ratios for the second quarter of 2005 were 1.50% and 19.74%, respectively. The efficiency ratio was 48.74% for the second quarter of 2006, compared with 46.59% for the corresponding period of 2005. Net Income and Net Interest Income Net income was $25.4 million for the quarter ended June 30, 2006. The reported net income for the second quarter of 2005 was $25.4 million, which included a $3.9 million tax benefit from the repatriation of earnings from a foreign subsidiary of the Bank. Net income before tax was $37.8 million for the second quarter of 2006, compared with $33.1 million for the second quarter of 2005, an increase of $4.7 million, or 14.2%. Net interest income before provision for loan losses for the quarter ended June 30, 2006 increased by $6.4 million, or 10.7%, to $66.1 million, compared with $59.6 million in the same period of 2005, primarily due to organic balance sheet growth and the acquisitions of Pacifica Pacifica (pəsĭf`ĭkə), city (1990 pop. 37,670), San Mateo co., W Calif., on the Pacific coast; inc. 1957. A residential city, Pacifica was formed by the consolidation of several communities in 1957. See AMD-V. Bancorp, Inc. ("Pacifica") and Asian American A·sian A·mer·i·can also A·sian-A·mer·i·can n. A U.S. citizen or resident of Asian descent. See Usage Note at Amerasian. A Bank & Trust Company ("AABT AABT Association for the Advancement of Behavior Therapy AABT Renal Transport of Beta-Amino Acids ") in the fourth quarter of 2005. The net interest margin was 3.50% for the quarter ended June 30, 2006, compared with 3.74% for the corresponding quarter of 2005. The decrease in the net interest margin reflects the impact of higher interest paid on money market accounts and CDs resulting from increases in market interest rates and the runoff Runoff The procedure of printing the end-of-day prices for every stock on an exchange onto ticker tape. Notes: If the "tape is late" then it can take a long time to print off all the closing prices. of savings accounts Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: due to the current market interest rate environment. The average cost of deposits during the second quarter of 2006 was 3.22%, compared with 1.99% for the second quarter ended June 30, 2005. The 123 basis point increase in the average cost of deposits reflects the increase in market interest rates and the change in deposit mix. The increase in the cost of deposits was largely offset by an 83 basis point increase in the yield on interest-earning assets. Noninterest Income Noninterest income increased to $10.1 million for the quarter ended June 30, 2006, compared with $5.7 million for the corresponding quarter of 2005, primarily due to increases in commercial banking fees and gains on sales of loans. Commercial banking fees increased by $812,000, or 31.2%, to $3.4 million in the second quarter of 2006, compared with commercial banking fees of $2.6 million for the corresponding quarter of 2005. The increase reflects the growth in trade finance activity and other commercial banking fees and an increase in fees received at UCB Investment Services, Inc. Gain on sale of commercial and multifamily real estate loans increased to $4.2 million, or 62.4%, compared with $2.6 million for the corresponding quarter of 2005, due to increased sales volume and higher spreads. Noninterest Expense Noninterest expense for the second quarter of 2006 increased by 22.0%, to $37.1 million, from $30.4 million for the corresponding quarter of 2005. This increase was primarily a result of increased personnel costs, occupancy-related expenses, data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a expenses and miscellaneous expenses. In the second quarter of 2006, personnel expense increased 37.3% to $20.7 million, compared with $15.1 million for the second quarter of 2005. This increase resulted from the ongoing expenses associated with the acquisitions of Pacifica and AABT which were completed in the fourth quarter of 2005, staffing increases required to support the growth of the Bank's commercial banking business, the opening of new branches, the expansion of the Bank's infrastructure to support a growing organization and nonrecurring Non`re`cur´ring a. 1. Nonrecurrent; as, the costs of a layoff are considered as a nonrecurring expense s>. expenses related to acquisitions. Included in personnel expenses for the second quarter of 2006 was $431,000 of severance pay Severance Pay Compensation that an employer gives to someone who is about to lose their job. Notes: Severance pay is not always paid to employees. It depends on the situation in which the employee is losing their job and whether legislation requires severance to be paid. related to the two acquisitions. Occupancy Gaining or having physical possession of real property subject to, or in the absence of, legal right or title. In a fire insurance policy, for example, the term occupancy expenses increased by $454,000 to $3.7 million in the second quarter of 2006, primarily related to the two acquisitions and the new branch openings in California and New York. Data processing expenses increased by $1.2 million to $3.0 million in the second quarter of 2006 reflecting the growth of the organization and the two acquisitions. Included in the data processing expenses for the second quarter of 2006 were conversion expenses of $570,000 related to the two acquisitions. Other general and administrative expenses increased by $867,000 to $4.9 million in the second quarter of 2006, compared with $4.1 million in the second quarter of 2005. This increase relates primarily to increased advertising expenses related to the expansion of the Bank and foreign exchange losses incurred in the second quarter of 2006. Deposits Total deposits decreased by $24.9 million, or 0.80% annualized, to $6.24 billion at June 30, 2006, from $6.26 billion at December December: see month. 31, 2005. Noninterest-bearing deposits increased by $9.7 million, or 3.4% annualized, to $568.3 million, at June 30, 2006, compared with $558.6 million, at December 31, 2005. Checking accounts increased by $63.5 million, or 7.1% annualized, to $1.85 billion at June 30, 2006, from $1.78 billion at December 31, 2005. Savings account balances decreased by $18.2 million, or 3.8% annualized, during the first half of 2006, reflecting the migration of savings balances to higher-yielding money market and CD accounts. CDs decreased by $70.2 million, or 4.0% annualized, during the first half of 2006, reflecting the highly competitive pricing for deposits in the market. The average cost of deposits for the quarter ended June 30, 2006 increased to 3.22% from 2.72% for the quarter ended December 31, 2005, reflecting the increase in market interest rates. Loan Growth Total loans, including loans held for sale, increased by $187.8 million, or 6.3% annualized, during the six months ended June 30, 2006, following the sale of $423.7 million of commercial real estate and multifamily loans. The sale of these loans is part of the Company's strategy to reduce its concentration in commercial real estate and multifamily loans and increase its commercial business loans and trade finance facilities. Prior to the loan sales, the total loans increased by $611.5 million, or 10.2%, during six months ended June 30, 2006. Loans held in portfolio increased by $104.4 million, or 3.6% annualized, during the first half of 2006, to $5.94 billion, reflecting the strong growth in commercial business and construction loan commitments, offset by the planned reduction in commercial real estate and multifamily real estate loans. This compares with loans held in portfolio of $5.84 billion at December 31, 2005. Loans held for sale increased by $83.4 million, or 106.4% annualized, during the first half of 2006, to $240.2 million. This compares with loans held for sale of $156.7 million at December 31, 2005. The Bank continued to expand its commercial lending activities in the California, Greater China, New York, New England and Pacific Northwest markets. During the second quarter of 2006, loan growth remained concentrated in the Bank's commercial business loan portfolio and construction loan portfolio. Commercial business loans totaled $1.13 billion at June 30, 2006. This represents an increase of $263.0 million, or 60.9% annualized, compared with the $863.9 million of commercial business loans as of December 31, 2005. Construction loans totaled $709.2 million at June 30, 2006. This represents an increase of $214.4 million, or 86.6% annualized, compared with the $494.8 million of construction loans as of December 31, 2005. With the strong commercial business loan and construction loan commitments in the second quarter of 2006, the Company expects solid growth of these higher-yielding assets through the remainder of 2006 as the commitments continue be drawn upon and as new commitments are generated during the year. Loan Commitments New loan commitments of $923.9 million for the second quarter of 2006 were comprised of $885.9 million of commercial loans and $38.0 million of consumer loans. Since the third quarter of 2005, the Company has been executing on its strategy to build origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real volume of commercial business and construction loans and decrease its concentration in commercial real estate and multifamily loans. Commercial business loan originations increased by 99.4% to $332.2 million in the second quarter of 2006, compared with $166.6 million in the second quarter of 2005. Construction loan commitments of $307.0 million in the second quarter of 2006 represent an 84.9% increase over construction loan commitments of $166.0 million in the corresponding quarter of 2005. Commercial real estate loan originations decreased 51.9% to $197.6 million in the second quarter of 2006, from $410.7 million in the second quarter of 2005. Multifamily loan originations were $49.1 million for the second quarter of 2006, a decrease of $341.4 million, or 87.4%, from $390.5 million of multifamily loan originations in the second quarter of 2005. Consumer loan originations were $38.0 million in the second quarter of 2006, compared with $55.5 million in the second quarter of 2005. Credit Quality and Allowance for Loan Losses Total nonperforming assets as of June 30, 2006, were $16.1 million, or 0.19%, reflecting management's continued focus on maintaining high credit quality assets. This compares with total nonperforming assets of $12.2 million, or 0.17%, at June 30, 2005. Net loan charge-offs were $2.5 million for the quarter ended June 30, 2006, compared with net loan recoveries of $45,000 for the corresponding quarter of the prior year. The second quarter 2006 loan charge-offs were isolated almost exclusively in two commercial business loan credits which were previously fully reserved. Annualized net loan charge-offs for the second quarter of 2006 were 0.16%, compared with 0.00% for the corresponding quarter of 2005. The ratio of allowance for loan losses to loans held in portfolio was 0.99% at June 30, 2006, compared with 1.11% at December 31, 2005. The decrease in the ratio of allowance for loan losses is primarily the result of loan loss factor refinements and improvements in credit classifications on certain loans. The ratio of allowance for loan losses to nonperforming loans was 366.58%, compared with 337.33% at December 31, 2005. Including the credit reserve for unfunded commitments, the total reserve ratio to portfolio loans was 1.08% at June 30, 2006, compared with 1.16% at December 31, 2005. Securities The securities portfolio was $1.54 billion at June 30, 2006, compared with $1.43 billion at December 31, 2005. The securities portfolio was 18.6% of total assets at June 30, 2006, compared with 17.9% of total assets at December 31, 2005. The Company's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. goal is to maintain a securities portfolio between 10% and 15% of total assets. Income Taxes The effective tax rate for the second quarter ended June 30, 2006, was 32.8%, compared with 23.4% for the corresponding period of 2005. The effective tax rate in the second quarter of 2005 included a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. $3.9 million tax benefit related to the Company's decision to repatriate repatriate To bring home assets that are currently held in a foreign country. Domestic corporations are frequently taxed on the profits that they repatriate, a factor inducing the firms to leave overseas the profits earned there. earnings from the Bank's Cayman Islands Cayman Islands (kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three islands in the West Indies. subsidiary, California Canton Canton, cities, United States Canton. 1 City (1990 pop. 13,922), Fulton co., W central Ill., in the corn belt; inc. 1849. It is a trade and industrial center for a coal and farm area. 2 Town (1990 pop. 18,530), Norfolk co. International Bank (Cayman) Ltd. Without the repatriation, the effective tax rate for the second quarter of 2005 was 35.1%. The reduced tax rate in 2006 relates primarily to increased Enterprise Zone tax credits. Capital Stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. increased by $36.2 million, or 12.0% annualized, to $639.7 million at June 30, 2006, from $603.5 million at December 31, 2005. The growth in equity during the quarter resulted from the retention of earnings. The Tier I leverage ratio of the Bank was 8.48% at June 30, 2006, compared with 8.26% at December 31, 2005. The Bank's capital ratios exceed regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. , and the Bank continues to be categorized cat·e·go·rize tr.v. cat·e·go·rized, cat·e·go·riz·ing, cat·e·go·riz·es To put into a category or categories; classify. cat as "well capitalized Capitalized Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. ." The Company's capital ratios approximate ap·prox·i·mate v. To bring together, as cut edges of tissue. adj. 1. Relating to the contact surfaces, either proximal or distal, of two adjacent teeth; proximate. 2. Close together. those of the Bank, and the Company is also categorized as "well capitalized." Second Quarter Earnings Teleconference and Webcast UCBH will hold a conference call and audio webcast on July July: see month. 28, 2006, at 8:00 a.m. Pacific time to discuss the financial results for the Company's second quarter 2006. The webcast will be available through a link on the Investor Relations Investor relations The process by which the corporation communicates with its investors. page of the Company's web site at www.ucbh.com. If you are unable to listen to the webcast live, a replay will be available at www.ucbh.com. About UCBH Holdings, Inc. UCBH Holdings, Inc. is the holding company for United Commercial Bank, a state-chartered commercial bank, which is the leading bank in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. serving the Chinese community and American companies doing business in Greater China. With $8.29 billion in assets as of June 30, 2006, the Bank has 47 California branches/offices located in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Sacramento Sacramento, city, United States Sacramento (săkrəmĕn`tō), city (1990 pop. 369,365), state capital and seat of Sacramento co., central Calif. , Stockton Stockton, city (1990 pop. 210,943), seat of San Joaquin co., central Calif., on the San Joaquin River; inc. 1850. One of the fastest-growing U.S. cities during the late 20th cent., Stockton is an inland seaport located at the head of the San Joaquin delta. , Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Orange counties, four branches in New York, three branches in New England, two branches in the Pacific Northwest, a branch in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , and representative offices in Shenzhen Shenzhen (shĕn`jŭn`), city (1994 est. pop. 695,600), S Guangdong prov., China, on the South China Sea, N of Hong Kong. Designated a special economic zone in 1979, the city's spectacular economic growth led China to create over a dozen more , China and Taipei Taipei (tībā`), city (1995 est. pop. 2,632,863), N Taiwan, capital of Taiwan and provisional capital of the Republic of China. Taiwan's largest city, it is the administrative, cultural, and industrial center of the island. , Taiwan Taiwan (tī`wän`), Portuguese Formosa, officially Republic of China, island nation (2005 est. pop. 22,894,000), 13,885 sq mi (35,961 sq km), in the Pacific Ocean, separated from the mainland of S China by the 100-mi-wide (161-km) Taiwan . UCB, with headquarters in San Francisco, provides commercial banking services to small- and medium-sized Me´di`um-sized` a. 1. Having a medium size; as, a medium-sized man s>. Adj. 1. medium-sized - intermediate in size medium-size, moderate-size, moderate-sized businesses and professionals in a variety of industries, as well as consumer and private banking services to individuals. The Bank offers a full range of lending activities, including commercial real estate and construction loans, commercial credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities , international trade finance, cash management, private client services, loans guaranteed by the U.S. Small Business Administration, residential mortgages, home equity lines of credit, and online banking services for businesses and consumers. For additional information, visit the web site for United Commercial Bank at www.ibankUNITED.com or the web site for UCBH Holdings, Inc. at www.ucbh.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Certain statements contained in this release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are based upon specific assumptions that may or may not prove correct. Forward-looking statements are also subject to known and unknown risks, uncertainties and other factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's and the Bank's operations and business environment, all of which are difficult to predict, and many of which are beyond the control of the Company and the Bank. The factors include, among others: economic and business conditions in the areas and markets in which the Company and the Bank operate, particularly those affecting loans secured by real estate; deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. or improvement in the ability of the Bank's borrowers to pay their debts to the Bank; market fluctuations such as those affecting interest and foreign exchange rates and the value of securities in which the Bank invests; competition from other financial institutions, whether banks, investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. , insurance companies or others; the ability of the Bank to assimilate as·sim·i·late v. 1. To consume and incorporate nutrients into the body after digestion. 2. To transform food into living tissue by the process of anabolism. acquisitions, enter new markets and lines of business, and open new branches, successfully; changes in business strategies; changes in tax law and governmental regulation of financial institutions; demographic See demographics. changes; and other risks and uncertainties, including those discussed in the documents the Company files with the Securities and Exchange Commission ("SEC"). The foregoing may cause the actual results and performance of the Company and the Bank to be materially different from the results and performance indicated or suggested by the forward-looking statements. Further description of the risks and uncertainties are included in detail in the Company's current, quarterly and annual reports, as filed with the SEC.
UCBH Holdings, Inc. & Subsidiaries
Condensed Consolidated Balance Sheets
(Dollars in Thousands, Except Share and Par Value Amounts)
June 30, Dec. 31,
2006 2005
---------- ----------
(Unaudited)
ASSETS
Noninterest-bearing cash $ 89,089 $ 101,002
Interest-bearing cash 94,598 99,070
Federal funds sold 116 2,993
---------- ----------
Cash and cash equivalents 183,803 203,065
---------- ----------
Investment and mortgage-backed securities
available for sale, at fair value 1,240,312 1,117,724
Investment and mortgage-backed securities held
to maturity, at cost (fair value of $297,664
and $313,974 at June 30, 2006, and December 31,
2005, respectively) 299,266 308,608
Federal Home Loan Bank stock and other equity
investments 88,962 75,445
Loans held for sale 240,162 156,740
Loans held in portfolio 5,943,058 5,838,660
Allowance for loan losses (59,035) (64,542)
---------- ----------
Loans held in portfolio, net 5,884,023 5,774,118
---------- ----------
Accrued interest receivable 41,305 37,750
Premises and equipment, net 97,754 98,289
Goodwill 107,455 106,648
Core deposit intangibles, net 12,745 14,981
Mortgage servicing rights, net 11,466 10,642
Other assets 83,840 61,627
---------- ----------
Total assets $8,291,093 $7,965,637
========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Noninterest-bearing deposits $ 568,336 $ 558,649
Interest-bearing deposits 5,670,941 5,705,520
---------- ----------
Total deposits 6,239,277 6,264,169
---------- ----------
Securities sold under agreements to repurchase 150,000 -
Short-term borrowings 343,325 279,425
Subordinated debentures 150,520 150,520
Accrued interest payable 12,180 12,582
Long-term borrowings 665,844 562,033
Other liabilities 90,198 93,394
---------- ----------
Total liabilities 7,651,344 7,362,123
---------- ----------
Preferred stock, $0.01 par value, 10,000,000
shares authorized, none issued and outstanding - -
Common stock, $0.01 par value, 180,000,000
shares authorized at June 30, 2006, and
December 31, 2005; 94,479,237 and 94,037,878
shares issued and outstanding at June 30, 2006,
and December 31, 2005, respectively 945 940
Additional paid-in capital 253,072 247,340
Retained earnings 418,384 375,220
Accumulated other comprehensive loss (32,652) (19,986)
---------- ----------
Total stockholders' equity 639,749 603,514
---------- ----------
Total liabilities and stockholders' equity $8,291,093 $7,965,637
========== ==========
UCBH Holdings, Inc. & Subsidiaries
Condensed Consolidated Statement of Operations
(Dollars in Thousands, Except Share and Per Share Amounts)
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
------------------------------------------------
2006 2005 2006 2005
----------- ----------- ----------- -----------
Interest and dividend
income:
Loans $ 111,636 $ 79,235 $ 217,174 $ 145,860
Federal funds sold and
deposits with banks 1,223 361 2,238 999
Investment and
mortgage-backed
securities:
Taxable 15,463 14,625 29,670 28,801
Nontaxable 2,684 2,652 5,376 5,235
----------- ----------- ----------- -----------
Total interest and
dividend income 131,006 96,873 254,458 180,895
----------- ----------- ----------- -----------
Interest expense:
Deposits 49,699 26,606 94,095 48,667
Short-term borrowings 4,091 2,653 7,565 2,969
Subordinated
debentures 3,035 2,433 5,750 4,747
Long-term borrowings 8,131 5,535 15,418 9,500
----------- ----------- ----------- -----------
Total interest expense 64,956 37,227 122,828 65,883
----------- ----------- ----------- -----------
Net interest income 66,050 59,646 131,630 115,012
Provision for loan
losses 1,249 1,775 1,556 2,965
----------- ----------- ----------- -----------
Net interest income
after provision for
loan losses 64,801 57,871 130,074 112,047
----------- ----------- ----------- -----------
Noninterest income:
Commercial banking
fees 3,416 2,604 7,511 4,841
Service charges on
deposits 912 851 1,652 1,515
Loss on sale of
securities, net - (614) (2) (5)
Gain on sale of SBA
loans, net 1,021 839 1,602 1,923
Gain on sale of
multifamily and
commercial real
estate loans, net 4,238 2,683 8,149 6,435
Lower of cost or
market adjustment on
loans held for sale 247 - 150 -
Equity loss in other
equity investments (50) (859) (508) (1,270)
Acquisition
termination fee - - 5,000 -
Other fees 345 164 652 275
----------- ----------- ----------- -----------
Total noninterest
income 10,129 5,668 24,206 13,714
----------- ----------- ----------- -----------
Noninterest expense:
Personnel 20,738 15,109 46,472 29,849
Occupancy 3,716 3,262 7,415 5,908
Data processing 3,005 1,762 5,327 3,386
Furniture and
equipment 1,775 1,567 3,435 3,096
Professional fees and
contracted services 2,410 2,782 5,795 5,291
Deposit insurance 195 189 406 377
Communication 258 238 504 495
Core deposit
intangible
amortization 467 258 1,022 542
Loss (gain) on
extinguishment of
subordinated
debentures and
borrowings (365) 1,196 (360) 1,196
Other general and
administrative 4,932 4,065 9,863 7,501
----------- ----------- ----------- -----------
Total noninterest
expense 37,131 30,428 79,879 57,641
----------- ----------- ----------- -----------
Income before income
tax expense 37,799 33,111 74,401 68,120
Income tax expense 12,393 7,747 25,576 20,950
----------- ----------- ----------- -----------
Net income $ 25,406 $ 25,364 $ 48,825 $ 47,170
=========== =========== =========== ===========
Earnings per share:
Basic $ 0.27 $ 0.28 $ 0.52 $ 0.52
Diluted $ 0.26 $ 0.27 $ 0.50 $ 0.49
Dividends declared per
share $ 0.030 $ 0.025 $ 0.060 $ 0.050
Average Shares
Outstanding:
Basic 94,429,086 91,624,156 94,272,826 91,427,204
Diluted 98,048,766 95,221,192 97,972,133 95,489,868
UCBH Holdings, Inc. & Subsidiaries
Supplemental Data
(Dollars in Thousands)
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
--------------------------------------------
2006 2005 2006 2005
---------- ---------- ---------- ----------
Operating Ratios and Other
Data:
Return on average assets 1.25% 1.50% 1.22% 1.44%
Return on average equity 16.20 19.74 15.79 18.75
Efficiency ratio(1) 48.74 46.59 51.26 44.78
Noninterest expense to
average assets 1.83 1.80 1.99 1.76
Average equity to average
assets 7.74 7.62 7.71 7.69
Dividend payout ratio(2) 11.54 9.26 12.00 10.20
Net loan charge-offs to
average loans 0.16 - 0.17 -
New Loan Commitments:
Loans held for sale:
Commercial:
Secured by real estate -
nonresidential $ 10,600 $ 19,269 $ 32,925 $ 39,103
Secured by real estate -
multifamily - 223,340 - 398,979
---------- ---------- ---------- ----------
Total commercial loans 10,600 242,609 32,925 438,082
---------- ---------- ---------- ----------
Consumer:
Residential mortgage
(one-to-four family) 1,251 325 1,251 325
---------- ---------- ---------- ----------
Total loans held for sale
commitments(3) 11,851 242,934 34,176 438,407
---------- ---------- ---------- ----------
Loans held in portfolio:
Commercial:
Secured by real estate -
nonresidential 186,971 391,419 372,052 584,567
Secured by real estate -
multifamily 49,114 167,180 134,236 244,559
Construction 306,967 166,013 485,858 308,945
Business 332,246 166,602 562,765 306,026
---------- ---------- ---------- ----------
Total commercial loans 875,298 891,214 1,554,911 1,444,097
---------- ---------- ---------- ----------
Consumer:
Residential mortgage
(one-to-four family) 27,495 42,726 46,360 88,075
Other 9,289 12,449 16,545 20,348
---------- ---------- ---------- ----------
Total consumer loans 36,784 55,175 62,905 108,423
---------- ---------- ---------- ----------
Total loans held in
portfolio commitments(3) 912,082 946,389 1,617,816 1,552,520
---------- ---------- ---------- ----------
Total loan commitments(3) $ 923,933 $1,189,323 $1,651,992 $1,990,927
========== ========== ========== ==========
Average Loan Balances:
Commercial:
Secured by real estate -
nonresidential $2,324,644 $2,232,875 $2,394,123 $2,118,599
Secured by real estate -
multifamily 1,512,526 1,249,443 1,521,286 1,230,947
Construction 632,851 346,527 580,451 322,679
Business 973,663 570,998 913,169 534,732
---------- ---------- ---------- ----------
Total commercial loans 5,443,684 4,399,843 5,409,029 4,206,957
---------- ---------- ---------- ----------
Consumer:
Residential mortgage
(one-to-four family) 611,731 466,433 611,018 458,941
Other 55,736 52,224 54,502 51,316
---------- ---------- ---------- ----------
Total consumer loans 667,467 518,657 665,520 510,257
---------- ---------- ---------- ----------
Total loans $6,111,151 $4,918,500 $6,074,549 $4,717,214
========== ========== ========== ==========
(1) Represents noninterest expense divided by the total of our net
interest income before provision for loan losses and our noninterest
income.
(2) Represents dividends declared per share as a percentage of diluted
earnings per share.
(3) Excludes commitments related to loan participations.
UCBH Holdings, Inc. & Subsidiaries
Average Yields Earned/Rates Paid
(Dollars in Thousands)
(Unaudited)
Three Months Ended
June 30, 2006
-------------------------------
Average
Yields
Interest Earned/
Average Income/ Rates
Balance Expense Paid
----------- --------- --------
Nontaxable equivalent basis:
Interest-earning assets
Loans(1)(2) $6,111,151 $111,636 7.31%
Taxable securities(3) 1,284,824 15,463 4.81
Nontaxable securities(3) 224,973 2,684 4.77
Other 100,149 1,223 4.88
---------- --------
Total interest-earning assets 7,721,097 131,006 6.79
Noninterest-earning assets 378,590 -
---------- --------
Total assets $8,099,687 $131,006
========== ========
Interest-bearing liabilities:
Deposits:
NOW, checking and money market
accounts $1,301,889 $ 9,919 3.05
Savings accounts 696,545 2,113 1.21
Time deposits 3,651,787 37,667 4.13
---------- --------
Total interest-bearing deposits 5,650,221 49,699 3.52
Short-term borrowings 343,341 4,091 4.77
Long- term borrowings 685,733 8,131 4.74
Subordinated debentures 150,520 3,035 8.07
---------- --------
Total interest-bearing liabilities 6,829,815 64,956 3.80
Noninterest-bearing deposits 530,621 -
Other noninterest-bearing liabilities 111,959 -
Stockholders' equity 627,292 -
---------- --------
Total liabilities and
stockholders' equity $8,099,687 $ 64,956
========== ========
Net interest-earning assets/net
interest income/net interest rate
spread(4) $ 891,282 $ 66,050 2.99%
========== ======== ========
Net interest margin(5) 3.42%
========
Ratio of interest-earning assets to
interest-bearing liabilities 1.13x
===========
Tax equivalent basis:
Total interest-earning
assets(6) $7,721,097 $132,451 6.86%
Total interest-bearing liabilities 6,829,815 64,956 3.80
---------- --------
Net interest-earning assets/net
interest income/net interest rate
spread(4) $ 891,282 $ 67,495 3.06%
========== ======== ========
Net interest margin(5) 3.50%
========
Average cost of deposits:
Total interest-bearing deposits $5,650,221 $ 49,699 3.52%
Noninterest-bearing deposits 530,621 -
---------- --------
Total deposits $6,180,842 $ 49,699 3.22%
========== ======== ========
Three Months Ended
June 30, 2005
------------------------------
Average
Yields
Interest Earned/
Average Income/ Rates
Balance Expense Paid
----------- -------- --------
Nontaxable equivalent basis:
Interest-earning assets
Loans(1)(2) $4,918,500 $79,235 6.44%
Taxable securities(3) 1,323,832 14,625 4.42
Nontaxable securities(3) 221,942 2,652 4.78
Other 33,063 361 4.37
---------- -------
Total interest-earning assets 6,497,337 96,873 5.96
Noninterest-earning assets 246,733 -
---------- -------
Total assets $6,744,070 $96,873
========== =======
Interest-bearing liabilities:
Deposits:
NOW, checking and money market
accounts $1,042,570 $ 4,401 1.69
Savings accounts 837,437 2,258 1.08
Time deposits 3,036,827 19,947 2.63
---------- -------
Total interest-bearing deposits 4,916,834 26,608 2.16
Short-term borrowings 293,420 2,653 3.62
Long- term borrowings 375,353 5,535 5.90
Subordinated debentures 135,701 2,433 7.17
---------- -------
Total interest-bearing liabilities 5,721,308 37,227 2.60
Noninterest-bearing deposits 427,181 -
Other noninterest-bearing liabilities 81,535 -
Stockholders' equity 514,046 -
---------- -------
Total liabilities and stockholders'
equity $6,744,070 $37,227
========== =======
Net interest-earning assets/net
interest income/net interest
rate spread(4) $ 776,029 $59,646 3.36%
========== ======= ========
Net interest margin(5) 3.67%
========
Ratio of interest-earning assets to
interest-bearing liabilities 1.14x
===========
Tax equivalent basis:
Total interest-earning
assets(6) $6,497,337 $98,013 6.03%
Total interest-bearing liabilities 5,721,308 37,227 2.60
---------- -------
Net interest-earning assets/net
interest income/net interest
rate spread(4) $ 776,029 $60,786 3.43%
========== ======= ========
Net interest margin(5) 3.74%
========
Average cost of deposits:
Total interest-bearing deposits $4,916,834 $26,606 2.16%
Noninterest-bearing deposits 427,181 -
---------- -------
Total deposits $5,344,015 $26,606 1.99%
========== ======= ========
(1) Nonaccrual loans are included in the table for computation
purposes; however, interest for such loans is recognized on a cash
basis.
(2) Average loans include loans held for sale.
(3) Average yield on investment securities is computed using
historical cost balances; the yield information does not give effect
to changes in fair value that are reflected as a component of
stockholders' equity.
(4) Interest rate spread represents the difference between the average
yield on interest-earning assets and the average cost of
interest-bearing liabilities.
(5) Net interest margin represents net interest income divided by
average interest-earning assets.
(6) Interest income from nontaxable securities has been adjusted to a
tax equivalent basis using a statutory Federal income tax rate of
35.0%. Interest income from nontaxable investment securities
calculated on a tax equivalent basis was $1.4 million and $1.1 million
for the three months ended June 30, 2006 and 2005, respectively.
UCBH Holdings, Inc. & Subsidiaries
Average Yields Earned/Rates Paid
(Dollars in Thousands)
(Unaudited)
Six Months Ended June 30, 2006
------------------------------
Average
Yields
Interest Earned/
Average Income/ Rates
Balance Expense Paid
----------- --------- --------
Nontaxable equivalent basis:
Interest-earning assets
Loans(1)(2) $6,074,549 $217,174 7.15%
Taxable securities(3) 1,254,399 29,670 4.73
Nontaxable securities(3) 225,275 5,376 4.77
Other 98,493 2,238 4.54
---------- --------
Total interest-earning assets 7,652,716 254,458 6.65
Noninterest-earning assets 368,557 -
---------- --------
Total assets $8,021,273 $254,458
========== ========
Interest-bearing liabilities:
Deposits:
NOW, checking and money market
accounts $1,257,330 $ 17,693 2.81
Savings accounts 737,635 4,391 1.19
Time deposits 3,636,978 72,011 3.96
---------- --------
Total interest-bearing deposits 5,631,943 94,095 3.34
Short-term borrowings 353,183 7,565 4.28
Long- term borrowings 633,205 15,418 4.87
Subordinated debentures 148,298 5,750 7.75
---------- --------
Total interest-bearing liabilities 6,766,629 122,828 3.63
Noninterest-bearing deposits 521,086 -
Other noninterest-bearing liabilities 114,992 -
Stockholders' equity 618,566 -
---------- --------
Total liabilities and stockholders'
equity $8,021,273 $122,828
========== ========
Net interest-earning assets/net
interest income/net interest
rate spread(4) $ 886,087 $131,630 3.02%
========== ======== ========
Net interest margin(5) 3.44%
========
Ratio of interest-earning assets to
interest-bearing liabilities 1.13x
===========
Tax equivalent basis:
Total interest-earning assets(6) $7,652,716 $257,353 6.73%
Total interest-bearing liabilities 6,766,629 122,828 3.63
---------- --------
Net interest-earning assets/net
interest income/net interest
rate spread(4) $ 886,087 $134,525 3.10%
========== ======== ========
Net interest margin(5) 3.52%
========
Average cost of deposits:
Total interest-bearing deposits $5,631,943 $ 94,095 3.34%
Noninterest-bearing deposits 521,086 -
---------- --------
Total deposits $6,153,029 $ 94,095 3.06%
========== ======== ========
Six Months Ended June 30, 2005
------------------------------
Average
Yields
Interest Earned/
Average Income/ Rates
Balance Expense Paid
----------- --------- --------
Nontaxable equivalent basis:
Interest-earning assets
Loans(1)(2) $4,717,214 $145,860 6.18%
Taxable securities(3) 1,309,936 28,801 4.40
Nontaxable securities(3) 218,789 5,235 4.79
Other 60,411 999 3.31
---------- --------
Total interest-earning assets 6,306,350 180,895 5.74
Noninterest-earning assets 239,533 -
---------- --------
Total assets $6,545,883 $180,895
========== ========
Interest-bearing liabilities:
Deposits:
NOW, checking and money market
accounts $1,011,073 $ 7,847 1.55
Savings accounts 893,533 4,723 1.06
Time deposits 2,954,066 36,097 2.44
---------- --------
Total interest-bearing deposits 4,858,672 48,667 2.00
Short-term borrowings 189,481 2,969 3.13
Long- term borrowings 355,244 9,500 5.35
Subordinated debentures 135,850 4,747 6.99
---------- --------
Total interest-bearing liabilities 5,539,247 65,883 2.38
Noninterest-bearing deposits 422,911 -
Other noninterest-bearing liabilities 80,546 -
Stockholders' equity 503,179 -
---------- --------
Total liabilities and stockholders'
equity $6,545,883 $ 65,883
========== ========
Net interest-earning assets/net
interest income/net interest rate
spread(4) $ 767,103 $115,012 3.36%
========== ======== ========
Net interest margin(5) 3.65%
========
Ratio of interest-earning assets to
interest-bearing liabilities 1.14x
===========
Tax equivalent basis:
Total interest-earning
assets(6) $6,306,350 $183,477 5.82%
Total interest-bearing liabilities 5,539,247 65,883 2.38
---------- --------
Net interest-earning assets/net
interest income/net interest rate
spread(4) $ 767,103 $117,594 3.44%
========== ======== ========
Net interest margin(5) 3.73%
========
Average cost of deposits:
Total interest-bearing deposits $4,858,672 $ 48,667 2.00%
Noninterest-bearing deposits 422,911 -
---------- --------
Total deposits $5,281,583 $ 48,667 1.84%
========== ======== ========
(1) Nonaccrual loans are included in the table for computation
purposes; however, interest for such loans is recognized on a cash
basis.
(2) Average loans include loans held for sale.
(3) Average yield on investment securities is computed using
historical cost balances; the yield information does not give effect
to changes in fair value that are reflected as a component of
stockholders' equity.
(4) Interest rate spread represents the difference between the average
yield on interest-earning assets and the average cost of
interest-bearing liabilities.
(5) Net interest margin represents net interest income divided by
average interest-earning assets.
(6) Interest income from nontaxable securities has been adjusted to a
tax equivalent basis using a statutory Federal income tax rate of
35.0%. Interest income from nontaxable investment securities
calculated on a tax equivalent basis was $2.9 million and $2.6 million
for the six months ended June 30, 2006 and 2005, respectively.
UCBH Holdings, Inc. & Subsidiaries
Selected Financial Data
(Dollars in Thousands, Except Per Share Amounts)
(Unaudited)
June 30, Dec. 31,
2006 2005
---------- ----------
Selected loan data:
Loans held for sale:
Commercial:
Secured by real estate - nonresidential $ 237,397 $ 154,087
Commercial business 1,874 2,653
---------- ----------
Total commercial loans 239,271 156,740
---------- ----------
Consumer:
Residential mortgage (one-to-four family) 891 -
---------- ----------
Total loans held for sale(1) $ 240,162 $ 156,740
========== ==========
Loans held in portfolio:
Commercial:
Secured by real estate - nonresidential $1,963,087 $2,307,381
Secured by real estate - multifamily 1,475,440 1,506,848
Construction 709,222 494,841
Commercial business 1,126,926 863,935
---------- ----------
Total commercial loans 5,274,675 5,173,005
---------- ----------
Consumer:
Residential mortgage (one-to-four family) 614,180 613,988
Home equity and other 54,203 51,667
---------- ----------
Total consumer loans 668,383 665,655
---------- ----------
Total loans held in portfolio(2) $5,943,058 $5,838,660
========== ==========
Nonperforming loans $ 16,104 $ 19,133
Other real estate owned (OREO) - -
Loan delinquency ratio 0.24% 0.48%
Nonperforming assets to total assets 0.19 0.24
Nonperforming loans to total loans 0.26 0.32
Allowance for loan losses to nonperforming
loans 366.58 337.33
Allowance for loan losses to loans held in
portfolio 0.99 1.11
Total loan to deposit ratio 99.10 95.71
Selected deposit data:
NOW, checking and money market accounts $1,847,555 $1,784,065
Savings accounts 928,540 946,714
Time deposits 3,463,182 3,533,390
---------- ----------
Total deposits $6,239,277 $6,264,169
========== ==========
Cost of deposits 3.28% 2.75%
Selected equity data:
Book value per share $ 6.77 $ 6.42
United Commercial Bank and subsidiaries
regulatory capital ratios:
Total risk-based capital 11.12% 10.98%
Tier 1 risk-based capital 10.15 9.91
Tier 1 leverage ratio 8.48 8.26
UCBH Holdings, Inc. and subsidiaries regulatory
capital ratios:
Total risk-based capital 11.40% 11.33%
Tier 1 risk-based capital 10.44 10.26
Tier 1 leverage ratio 8.72 8.56
(1) Includes net unamortized deferred loan fees of $438,000 at June
30, 2006, and $372,000 at December 31, 2005.
(2) Includes net unamortized deferred loan fees of $7.7 million at
June 30, 2006, and $7.4 million at December 31, 2005.
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