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Ellenville National Bank

Ellenville, NY · Cert 17703

FDIC

Q4 2003

$361.8MAssets
$219.9MLoans
$326.4MDeposits
$27.8MEquity
Loan mix
48%RE $33.3M52%C&I $36.4M0%Consumer $0.3MQ4 2002Q4 2003
Deposit mix
74%Interest-bearing $240.0M26%Noninterest $86.4MQ4 2002Q4 2003

NIM

6.75%Q4 ’016.22%Q4 ’025.69%Q4 ’030%-5%

Non-interest income vs. expense

3.36%Q4 ’013.48%Q4 ’023.10%Q4 ’03+13%-8%

Executive Summary

  • Earnings: ROA of 1.29%, down 21 bps year over year; NIM at 4.60%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 67.36% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

1.29%-21 bps YoY

Net Interest Margin (quarter, annualized)

4.60%-25 bps YoY

Efficiency Ratio (quarter, annualized)

58.83%-253 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets1.51%1.12%1.27%1.32%1.29%-21 bps
Return on Equity16.50%12.47%14.47%15.58%16.31%-19 bps
Net Interest Margin4.85%4.85%4.80%4.75%4.60%-25 bps
Efficiency Ratio61.35%66.55%61.36%60.39%58.83%-253 bps
Non-Interest Burden2.66%2.97%2.66%2.60%2.44%-22 bps
Growth
Asset Growth (YoY)10.33%12.34%15.15%16.72%16.63%+631 bps
Loan Growth (YoY)16.35%15.30%15.68%15.71%19.09%+274 bps
Deposit Growth (YoY)9.21%11.17%15.15%18.09%17.04%+783 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.08%0.01%0.10%0.15%+10 bps
Allowance / Loans1.25%1.25%1.25%1.25%1.25%0 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 Capital14.10%13.87%13.37%13.02%12.45%-165 bps
Equity / Assets9.06%8.83%8.77%8.19%7.67%-139 bps
Liquidity & Funding
Loans / Deposits66.21%65.21%65.73%63.08%67.36%+116 bps
Liquid Assets / Assets2.35%1.71%1.37%1.60%1.54%-81 bps
CRE / Total Capitaln/an/an/an/an/an/an/a