PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Citizens Bank of Connecticut

New London, CT · Cert 18197

FDIC

Q2 2007

$4.5BAssets
$3.1BLoans
$3.2BDeposits
$343.0MEquity
Loan mix
75%RE $1.7B24%C&I $0.6B0%Consumer $0.0BQ2 2006Q2 2007
Deposit mix
95%Interest-bearing $3.0B5%Noninterest $0.2BQ2 2006Q2 2007

NIM

4.90%Q2 ’055.44%Q2 ’065.73%Q2 ’07-16%+3%

Non-interest income vs. expense

1.46%Q2 ’051.46%Q2 ’061.41%Q2 ’07-2%-100%

Executive Summary

  • Earnings: ROA of 1.49%, up 37 bps year over year; NIM at 2.61%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.12%.
  • Funding: loans stand at 99.18% of deposits as of Q2 2007.

Financial Results

Return on Assets (quarter, annualized)

1.49%+37 bps YoY

Net Interest Margin (quarter, annualized)

2.61%+8 bps YoY

Efficiency Ratio (quarter, annualized)

34.59%-911 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets1.12%1.30%1.15%1.05%1.49%+37 bps
Return on Equity15.65%17.52%14.11%12.17%18.08%+243 bps
Net Interest Margin2.52%2.56%2.51%2.59%2.61%+8 bps
Efficiency Ratio43.70%39.59%44.42%45.53%34.59%-911 bps
Non-Interest Burden0.69%0.46%0.65%0.77%0.00%-69 bps
Growth
Asset Growth (YoY)15.46%15.71%5.83%-2.30%-7.55%-2,301 bps
Loan Growth (YoY)24.55%16.20%8.22%6.86%2.64%-2,191 bps
Deposit Growth (YoY)17.46%-2.88%-4.23%-11.83%-16.12%-3,357 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.13%0.13%0.18%0.11%0.12%0 bps
Allowance / Loans0.71%0.70%0.77%0.80%0.83%+12 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 Capital10.86%11.43%12.00%12.14%10.54%-31 bps
Equity / Assets7.09%7.79%8.46%8.77%7.66%+57 bps
Liquidity & Funding
Loans / Deposits81.05%95.97%97.90%99.02%99.18%+1,812 bps
Liquid Assets / Assets0.08%0.05%0.07%0.06%0.06%-2 bps
CRE / Total Capitaln/an/an/an/an/an/an/a