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Slade's Ferry Trust Company

Somerset, MA · Cert 18085

FDIC

Q4 2007

$603.3MAssets
$462.5MLoans
$393.7MDeposits
$53.4MEquity
Deposit mix
81%Interest-bearing $317.3M19%Noninterest $76.4MQ4 2006Q4 2007

NIM

5.43%Q4 ’055.98%Q4 ’066.16%Q4 ’07-5%+3%

Non-interest income vs. expense

2.19%Q4 ’052.18%Q4 ’062.53%Q4 ’07-1%+19%

Executive Summary

  • Earnings: ROA of 0.52%, down 32 bps year over year; NIM at 3.32%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 117.48% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

0.52%-32 bps YoY

Net Interest Margin (quarter, annualized)

3.32%+10 bps YoY

Efficiency Ratio (quarter, annualized)

70.67%+823 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.84%0.74%0.69%0.75%0.52%-32 bps
Return on Equity9.36%8.43%8.29%8.91%5.97%-339 bps
Net Interest Margin3.23%3.06%3.14%3.22%3.32%+10 bps
Efficiency Ratio62.44%66.51%71.52%71.34%70.67%+823 bps
Non-Interest Burden1.91%1.95%2.17%2.22%2.27%+36 bps
Growth
Asset Growth (YoY)3.67%4.16%3.95%0.24%0.38%-329 bps
Loan Growth (YoY)3.10%3.53%0.70%4.35%8.37%+527 bps
Deposit Growth (YoY)1.44%0.97%-0.64%-4.97%-7.25%-869 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%0.02%0.00%0.00%+1 bps
Allowance / Loans1.00%1.00%0.99%0.99%1.01%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 Capital13.66%11.95%11.70%11.84%11.90%-177 bps
Equity / Assets9.11%8.41%8.15%8.66%8.84%-26 bps
Liquidity & Funding
Loans / Deposits100.55%104.68%101.03%111.54%117.48%+1,693 bps
Liquid Assets / Assets4.21%3.85%3.61%3.54%3.38%-82 bps
CRE / Total Capitaln/an/an/an/an/an/an/a