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Letter portraitLegal landscapeQuarterYTD

Cape Cod Bank and Trust Company, N.A.

Hyannis, MA · Cert 10538

FDIC

Q1 2004

$1.3BAssets
$832.1MLoans
$957.6MDeposits
$121.1MEquity
Loan mix
78%RE $314.4M22%C&I $88.6M0%Consumer $0.8MQ1 2003Q1 2004
Deposit mix
87%Interest-bearing $831.6M13%Noninterest $126.0MQ1 2003Q1 2004

NIM

5.41%Q1 ’024.62%Q1 ’034.49%Q1 ’04-8%+4%

Non-interest income vs. expense

3.13%Q1 ’023.51%Q1 ’033.79%Q1 ’04-8%+24%

Executive Summary

  • Earnings: ROA of 1.05%, up 145 bps year over year; NIM at 3.27%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 86.89% of deposits as of Q1 2004.

Financial Results

Return on Assets (YTD, annualized)

1.05%+145 bps YoY

Net Interest Margin (YTD, annualized)

3.27%+13 bps YoY

Efficiency Ratio (YTD, annualized)

72.43%+486 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets-0.40%0.45%0.53%0.49%1.05%+145 bps
Return on Equity-4.74%5.16%6.13%5.64%11.47%+1,622 bps
Net Interest Margin3.13%3.27%3.14%3.13%3.27%+13 bps
Efficiency Ratio67.57%66.99%68.85%72.67%72.43%+486 bps
Non-Interest Burden1.58%1.66%1.69%1.90%1.96%+38 bps
Growth
Asset Growth (YoY)-6.05%-11.66%-16.53%-9.73%-3.60%+246 bps
Loan Growth (YoY)-11.83%-12.44%-11.93%-4.48%6.38%+1,821 bps
Deposit Growth (YoY)4.15%5.65%5.96%6.66%1.18%-297 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.11%-0.08%-0.07%-0.04%-0.01%+10 bps
Allowance / Loans1.61%1.61%1.64%1.59%1.53%-8 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital12.48%12.90%12.62%13.11%12.53%+6 bps
Equity / Assets8.71%9.13%8.58%8.85%9.44%+73 bps
Liquidity & Funding
Loans / Deposits82.65%80.54%75.57%79.61%86.89%+425 bps
Liquid Assets / Assets0.06%0.07%3.87%4.10%3.97%+391 bps
CRE / Total Capitaln/an/an/an/an/an/an/a