Analyzing Financial Institution (Depository & non-Depository)

Hello -

I have an upcoming interview for a Counterparty Credit Risk Management position. The role will be similar to a bond rating analyst, but for financial institutions only. One of the questions I will likely be asked is, walk me through how you may analyze an FI. My question to you is: where would I start? From the Balance Sheet or Income Statement?

I'm fairly comfortable on what to look for w/in each of those, but I'm not sure which is typically looked at first in practice.

Thanks,

Oozz