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Independence Community Bank

Brooklyn, NY · Cert 16018

FDIC

Q2 2006

$19.6BAssets
$13.4BLoans
$11.4BDeposits
$3.7BEquity
Loan mix
90%RE $7.9B10%C&I $0.8B0%Consumer $0.0BQ2 2005Q2 2006
Deposit mix
86%Interest-bearing $9.8B14%Noninterest $1.6BQ2 2005Q2 2006

NIM

3.77%Q2 ’044.61%Q2 ’050.86%Q2 ’06+10%-87%

Non-interest income vs. expense

1.51%Q2 ’041.66%Q2 ’050.32%Q2 ’06+26%-79%

Executive Summary

  • Earnings: ROA of -0.01%, down 121 bps year over year; NIM at 0.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 117.62% of deposits as of Q2 2006.

Financial Results

Return on Assets (YTD, annualized)

-0.01%-121 bps YoY

Net Interest Margin (YTD, annualized)

0.39%-259 bps YoY

Efficiency Ratio (YTD, annualized)

49.51%+511 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets1.21%1.19%1.12%0.86%-0.01%-121 bps
Return on Equity10.01%9.70%9.12%6.83%-0.05%-1,006 bps
Net Interest Margin2.99%2.90%2.83%2.56%0.39%-259 bps
Efficiency Ratio44.40%44.96%46.25%54.89%49.51%+511 bps
Non-Interest Burden1.15%1.12%1.13%1.27%0.24%-91 bps
Growth
Asset Growth (YoY)1.23%4.41%7.44%5.88%7.75%+652 bps
Loan Growth (YoY)6.61%10.93%8.61%11.14%10.56%+395 bps
Deposit Growth (YoY)7.95%12.70%17.42%11.71%8.73%+78 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.01%0.00%0.00%0.07%0.00%+1 bps
Allowance / Loans0.85%0.82%0.82%0.78%0.83%-2 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 Capital10.88%12.22%12.59%12.65%10.37%-51 bps
Equity / Assets11.99%12.79%12.59%12.73%18.64%+665 bps
Liquidity & Funding
Loans / Deposits115.68%115.75%111.07%112.78%117.62%+194 bps
Liquid Assets / Assets0.45%0.42%3.33%2.24%0.20%-25 bps
CRE / Total Capitaln/an/an/an/an/an/an/a