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Chittenden Trust Company

Burlington, VT · Cert 14149

FDIC

Q4 2008

$3.8BAssets
$2.4BLoans
$2.6BDeposits
n/aEquity
Loan mix
81%RE $1.7B19%C&I $0.4B0%Consumer $0.0BQ1 2007Q4 2008
Deposit mix
81%Interest-bearing $2.4B19%Noninterest $0.6BQ1 2007Q4 2008

Executive Summary

  • Earnings: ROA of 1.17%, down 64 bps year over year.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY).
  • Funding: loans stand at 94.10% of deposits as of Q4 2008.

Return on Assets (quarter, annualized)

1.17%-64 bps YoY

Net Interest Margin (quarter, annualized)

n/a

Efficiency Ratio (quarter, annualized)

n/a

Tier 1 Leverage Ratio

n/a
n/a

NIM

6.12%Q4 ’066.22%Q4 ’07-1%

Non-interest income vs. expense

2.70%Q4 ’063.04%Q4 ’07+9%

Discrete quarter, annualized.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.58%0.84%1.82%1.81%1.08%1.25%1.19%1.17%-64 bps
Return on Equity21.38%11.40%24.31%23.56%n/an/an/an/an/a
Net Interest Margin3.73%3.82%3.97%3.96%n/an/an/an/an/a
Efficiency Ratio55.42%52.54%50.78%54.12%n/an/an/an/an/a
Non-Interest Burden1.44%1.35%1.24%1.43%n/an/an/an/an/a
Growth
Asset Growth (YoY)0.49%-1.42%-1.13%1.63%6.39%3.69%2.49%10.96%+933 bps
Loan Growth (YoY)2.70%3.95%3.67%4.46%0.44%1.13%-0.15%-2.50%-696 bps
Deposit Growth (YoY)1.64%-4.06%-3.50%2.71%-4.09%-6.96%-12.00%-13.68%-1,638 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.09%0.18%0.05%n/an/an/an/an/a
Allowance / Loansn/an/an/an/an/an/an/an/an/an/a
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital10.95%10.82%10.78%11.07%n/an/an/an/an/a
Equity / Assetsn/an/an/an/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits81.28%87.85%85.05%83.31%85.11%95.49%96.50%94.10%+1,078 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a