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Letter portraitLegal landscapeQuarterYTD

Provident Bank of Maryland

Baltimore, MD · Cert 15951

FDIC

Q1 2009

$6.2BAssets
$4.3BLoans
$4.8BDeposits
$467.4MEquity
Loan mix
88%RE $2.8B11%C&I $0.4B0%Consumer $0.0BQ1 2008Q1 2009
Deposit mix
85%Interest-bearing $4.1B15%Noninterest $0.7BQ1 2008Q1 2009

NIM

6.24%Q1 ’075.64%Q1 ’084.17%Q1 ’09-12%-23%

Non-interest income vs. expense

3.63%Q1 ’073.30%Q1 ’083.56%Q1 ’09-8%+33%

Executive Summary

  • Earnings: ROA of -4.19%, down 315 bps year over year; NIM at 2.35%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.24%.
  • Funding: loans stand at 89.87% of deposits as of Q1 2009.

Financial Results

Return on Assets (YTD, annualized)

-4.19%-315 bps YoY

Net Interest Margin (YTD, annualized)

2.35%-71 bps YoY

Efficiency Ratio (YTD, annualized)

92.06%+2,385 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009YoY ΔTrend
Earnings
Return on Assets-1.04%-0.14%-0.17%-0.52%-4.19%-315 bps
Return on Equity-16.08%-2.05%-2.63%-7.52%-52.59%-3,651 bps
Net Interest Margin3.06%3.12%3.06%2.93%2.35%-71 bps
Efficiency Ratio68.22%66.65%68.06%71.87%92.06%+2,385 bps
Non-Interest Burden1.55%1.49%1.53%1.64%2.06%+51 bps
Growth
Asset Growth (YoY)2.88%2.99%1.10%1.75%0.99%-189 bps
Loan Growth (YoY)8.08%6.84%5.17%3.18%2.74%-535 bps
Deposit Growth (YoY)2.08%4.13%9.26%13.69%10.28%+820 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%0.31%0.36%0.45%1.24%+94 bps
Allowance / Loans1.31%1.38%1.40%1.68%2.20%+89 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 Capital10.11%12.27%11.63%11.24%8.35%-176 bps
Equity / Assets6.20%6.94%6.50%8.38%7.55%+135 bps
Liquidity & Funding
Loans / Deposits96.47%96.50%92.83%91.67%89.87%-660 bps
Liquid Assets / Assets0.77%0.76%5.07%4.72%3.98%+321 bps
CRE / Total Capitaln/an/an/an/an/an/an/a