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Saint Michaels Bank

Saint Michaels, MD · Cert 1575

FDIC

Q2 2004

$261.8MAssets
$239.9MLoans
$170.2MDeposits
$21.0MEquity
Loan mix
68%RE $109.0M31%C&I $49.1M1%Consumer $1.3MQ2 2003Q2 2004
Deposit mix
73%Interest-bearing $123.6M27%Noninterest $46.6MQ2 2003Q2 2004

NIM

6.80%Q2 ’026.09%Q2 ’035.44%Q2 ’04-8%-9%

Non-interest income vs. expense

2.49%Q2 ’022.26%Q2 ’031.76%Q2 ’04-24%-18%

Executive Summary

  • Earnings: ROA of 2.13%, down 2 bps year over year; NIM at 4.54%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.45%.
  • Funding: loans stand at 140.95% of deposits as of Q2 2004.

Financial Results

Return on Assets (YTD, annualized)

2.13%-2 bps YoY

Net Interest Margin (YTD, annualized)

4.54%-45 bps YoY

Efficiency Ratio (YTD, annualized)

34.53%-453 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets2.15%2.19%2.25%2.05%2.13%-2 bps
Return on Equity21.42%22.55%23.81%24.33%25.66%+424 bps
Net Interest Margin4.99%4.86%4.70%4.67%4.54%-45 bps
Efficiency Ratio39.06%37.04%37.08%35.65%34.53%-453 bps
Non-Interest Burden1.46%1.35%1.32%1.33%1.20%-26 bps
Growth
Asset Growth (YoY)10.12%11.72%14.73%17.64%17.08%+695 bps
Loan Growth (YoY)11.68%13.89%14.37%17.95%16.59%+490 bps
Deposit Growth (YoY)15.43%12.59%13.28%5.71%8.28%-715 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.06%0.19%0.21%0.74%0.45%+39 bps
Allowance / Loans2.26%2.09%1.78%1.53%1.42%-83 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 Capital13.14%16.52%16.08%15.70%15.18%+203 bps
Equity / Assets9.87%8.82%8.48%8.40%8.01%-185 bps
Liquidity & Funding
Loans / Deposits130.91%128.74%131.87%137.15%140.95%+1,004 bps
Liquid Assets / Assets0.23%0.18%0.21%0.26%0.33%+11 bps
CRE / Total Capitaln/an/an/an/an/an/an/a