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Failed Bank History Report
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This institution did not file a CALL/TFR in the most recent FFIEC reporting cycle.
The most recent data available in our database is shown.
Horizon Bank, member of holding company HORIZON FINANCIAL CORP.
as of December-2009
1500 CORNWALL AVENUE BELLINGHAM, WA, 98225
Data Source: IRA Bank Monitor.  Data in thousands unless otherwise noted.  Copyright 2003-2009 Lord, Whalen LLC All Rights Reserved
Historical Performance Table



IRA Bank Stress Benchmarks
Grade
Stress Index Number
ROE, %
Efficiency Ratio
Goodwill Writedowns

Capital Ratios
T1/RWA
RBC/RWA
T1/ASSET

Basel II Benchmarks
Bond Equivalent Defaults, Method 1
B.E.D., Method 2
Default Rate, bp
LGD: Loss Given Default, %
M: Wt. Avg. Maturity, yr
EAD: Exposure At Default, %

Economic Capital Analysis
EC
RAROC, %
Tier 1 RBC
T1RBC to EC Leverage
Bank Tangible Common Equity
Percent of Tangible Assets (TCE Ratio)
TCE to EC Leverage

Regulatory Watch Points
Total Assets
Total Lending

Total Securities

Net Interest Income, YTD
Earning Assets, Total
Net Interest Margin, Current Qtr - Annualized
NIMY, from FDIC 5YR METHOD

Total Deposits
Brokered Deposits
Reciprocal Brokered Deposits
Volatile Liabilities, per FDIC
FHLB Advances

FHLB Advances-to-Assets, percent
Brokered to Total Deposits, percent
FHLB+BRO+VOLIAB to Assets, percent

Gross Defaults, Actual
Provision for Loan Losses, Income Statement
Actual-to-Provision Ratio
Balance Sheet Allowances for Loan Losses

Gross Defaults, Total
30-89 Day Assets, Total
  Guaranteed Portion of 30-89
Over 90 Assets, Total
  Guaranteed Portion of Over 90
Non-Accrual Assets, Total
  Guaranteed Portion of NA
Real Estate Owned (REO)
Total Troubled Assets
Troubled Assets % of Total Assets
   % factored for less 80% GTY Offsets
Non-Conforming Assets, Reported

Off Balance Sheet Derivatives, Notional
Loss Realization Margin to RBC, bp

December
2009


F
25.8
-0.90
180.8%
0

Fail
1.0%
2.0%
0.9%


B
CCC
1,053.9
98.47
2.72
12.2


$246,507
-45.07%
$10,165
0.0:1
$18,321
1.57%
0.07:1


$1,188,956
$939,075

$60,813

$22,700
$1,023,714
2.22%
1.88%

$1,049,063
$156,990
$0
$403,611
$123,500

10.39%
14.96%
57.54%

$98,972
$116,521
0.85:1
$44,374

$98,972
$55,889
$0
$47
$0
$113,890
$0
$31,911
$300,709
25.29%
25.29%
$113,937

$1,546
131,501

September
2009


F
26.6
-1.13
167.9%
0

Fail
1.0%
2.0%
0.8%


CCC
CCC
1,292.7
99.30
2.63
15.3


$243,326
-42.24%
$10,438
0.0:1
$10,107
0.79%
0.04:1


$1,299,986
$975,245

$62,009

$17,953
$1,149,219
2.08%
1.90%

$1,174,360
$188,339
$0
$415,867
$100,500

7.73%
16.04%
54.21%

$94,552
$104,521
0.90:1
$35,941

$94,552
$47,257
$0
$47
$0
$88,242
$0
$40,117
$270,215
20.79%
20.79%
$88,289

$4,069
51,305

June
2009


F
24.0
-0.30
145.0%
0

Fail
4.0%
5.3%
3.3%


B
CCC
913.0
99.20
2.65
16.7


$195,390
-27.10%
$45,301
0.2:1
$27,716
2.08%
0.14:1


$1,360,726
$1,089,257

$63,233

$12,871
$1,218,367
2.11%
1.99%

$1,172,348
$211,925
$0
$410,896
$125,500

9.22%
18.08%
54.99%

$49,727
$75,521
0.66:1
$51,499

$49,727
$29,430
$0
$14
$0
$115,894
$0
$22,537
$217,602
15.99%
15.99%
$115,908

$8,373
71,967

March
2009


F
23.6
-0.11
110.1%
0

Warn
7.3%
8.6%
6.2%


B
CCC
906.2
99.55
2.52
18.8


$182,094
-14.88%
$90,912
0.5:1
$54,960
3.81%
0.30:1


$1,467,551
$1,167,386

$66,664

$7,149
$1,320,728
2.17%
2.15%

$1,230,174
$261,409
$0
$418,596
$129,500

8.82%
21.25%
55.16%

$26,446
$40,000
0.66:1
$38,981

$26,446
$83,869
$0
$500
$0
$84,925
$0
$37,212
$232,952
15.87%
15.87%
$85,425

$26,286
40,690

December
2008


F
21.1
-0.00
57.9%
545

Adequate
9.0%
10.3%
7.9%


BB
BB
161.5
99.80
2.33
20.1


$37,698
-0.95%
$116,299
3.1:1
$82,574
5.71%
2.19:1


$1,471,821
$1,214,550

$68,154

$44,687
$1,338,264
3.34%
3.41%

$1,196,078
$250,670
$0
$392,637
$134,500

9.14%
20.96%
52.85%

$19,621
$27,000
0.73:1
$25,309

$19,621
$73,242
$0
$5,643
$0
$61,288
$0
$34,670
$194,464
13.21%
13.21%
$66,931

$8,272
160,627

September
2008


C
2.0
1.99
54.6%
0

Adequate
9.1%
10.4%
8.3%


BB
BB
98.4
99.61
2.17
23.6


$25,118
27.86%
$120,682
4.8:1
$100,856
7.09%
4.02:1


$1,450,247
$1,266,771

$71,438

$35,284
$1,331,446
3.53%
3.61%

$1,147,914
$235,471
$0
$379,592
$153,000

10.55%
20.51%
52.96%

$9,348
$17,000
0.55:1
$25,579

$9,348
$45,988
$0
$589
$0
$77,781
$0
$19,601
$153,307
10.57%
10.57%
$78,370

$5,426
253,933

June
2008


A+
1.0
9.88
52.1%
0

Adequate
9.3%
10.6%
8.7%


BB
BBB
59.5
99.23
2.09
27.1


$18,687
46.63%
$125,736
6.7:1
$105,540
7.43%
5.65:1


$1,447,296
$1,267,054

$76,933

$24,227
$1,327,669
3.65%
3.75%

$1,097,107
$153,822
$0
$572,093
$182,000

12.58%
14.02%
62.73%

$3,771
$5,000
0.75:1
$19,149

$3,771
$13,417
$0
$0
$0
$35,819
$0
$20,469
$73,476
5.08%
5.08%
$35,819

$7,191
198,846

March
2008


A+
0.8
12.48
48.3%
0

Adequate
9.7%
11.0%
9.0%


BBB
A
26.1
97.98
2.06
30.7


$18,206
34.17%
$125,058
6.9:1
$108,538
7.96%
5.96:1


$1,391,681
$1,213,236

$80,136

$12,679
$1,277,170
3.97%
3.97%

$1,039,200
$120,986
$0
$503,558
$192,000

13.80%
11.64%
58.67%

$793
$2,000
0.40:1
$19,114

$793
$30,626
$0
$0
$0
$11,608
$0
$18,223
$61,250
4.40%
4.40%
$11,608

$6,526
217,772

December
2007


A+
0.7
16.02
46.7%
0

Adequate
9.6%
11.0%
8.9%


AA
AAA
1.6
93.19
1.93
31.9


$18,072
175.56%
$124,436
6.9:1
$108,495
7.96%
6.00:1


$1,390,882
$1,211,091

$80,185

$55,350
$1,276,170
4.34%
4.63%

$1,010,148
$97,898
$0
$574,837
$212,500

15.28%
9.69%
63.65%

$191
$2,100
0.09:1
$17,891

$191
$31,675
$0
$0
$0
$990
$0
$18,130
$50,986
3.67%
3.67%
$990

$4,340
327,230

September
2007


A+
0.7
16.10
46.9%
0

Adequate
9.9%
11.4%
9.2%


AA
AAA
1.8
92.99
1.98
34.1


$17,853
132.41%
$123,620
6.9:1
$108,815
8.26%
6.10:1


$1,345,840
$1,165,008

$83,965

$41,325
$1,238,786
4.45%
4.68%

$997,756
$68,598
$0
$480,890
$177,500

13.19%
6.88%
54.02%

$157
$1,200
0.13:1
$17,023

$157
$6,976
$0
$0
$0
$6
$0
$18,131
$25,270
1.88%
1.88%
$6

$13,550
104,579

June
2007


A+
0.7
16.33
47.4%
0

Adequate
10.4%
11.9%
9.3%


AA
AAA
2.1
92.24
2.09
35.8


$17,225
89.37%
$121,506
7.1:1
$106,577
8.36%
6.19:1


$1,303,462
$1,104,050

$84,902

$27,116
$1,181,355
4.59%
4.69%

$987,836
$68,266
$0
$454,543
$159,500

12.24%
6.91%
52.35%

$116
$400
0.29:1
$16,262

$116
$5,337
$0
$0
$0
$156
$0
$18,027
$23,636
1.81%
1.81%
$156

$11,576
119,919

March
2007


A+
0.7
16.34
48.5%
0

Adequate
10.5%
12.0%
9.4%


AA
AA
3.2
93.02
2.19
36.3


$17,870
41.30%
$119,674
6.7:1
$104,897
8.44%
5.87:1


$1,270,237
$1,075,252

$79,616

$13,417
$1,144,358
4.69%
4.70%

$975,665
$79,390
$0
$441,193
$143,500

11.30%
8.14%
52.28%

$86
-
-
$15,889

$86
$3,042
$0
$0
$0
$226
$0
$17,894
$21,248
1.67%
1.67%
$226

$13,931
97,866

All CALL/TFR's file to identical calendars ending Dec-31. Quarterly values reported are cumulative thru the reporting year. Dollar data in thousands unless otherwise noted. Selected rates pre-computed by FDIC are factored according to criteria from the regulatory agency to derive annualized rates. Peering groups are dynamically generated each quarter based the bank unit being examined. See the quarterly for peer listings.
Lord, Whalen LLC dba Institutional Risk Analytics 371 Van Ness Way Suite 110 Torrance, California 90501 310.676.3300