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American Savings Bank

New Britain, CT · Cert 18246

FDIC

Q4 2002

$2.8BAssets
$1.5BLoans
$2.0BDeposits
$386.7MEquity
Loan mix
95%RE $1.3B5%C&I $0.1B0%Consumer $0.0BQ4 2001Q4 2002
Deposit mix
98%Interest-bearing $1.9B2%Noninterest $0.0BQ4 2001Q4 2002

NIM

6.93%Q1 ’016.31%Q4 ’015.00%Q4 ’02-8%-16%

Non-interest income vs. expense

1.44%Q1 ’011.63%Q4 ’011.87%Q4 ’02+15%+26%

Executive Summary

  • Earnings: ROA of 0.80%, down 79 bps year over year; NIM at 2.62%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.23%.
  • Funding: loans stand at 75.73% of deposits as of Q4 2002.

Financial Results

Return on Assets (quarter, annualized)

0.80%-79 bps YoY

Net Interest Margin (quarter, annualized)

2.62%-51 bps YoY

Efficiency Ratio (quarter, annualized)

57.04%+1,243 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets1.59%1.13%1.44%1.40%0.80%-79 bps
Return on Equity8.23%7.34%11.28%10.69%5.88%-235 bps
Net Interest Margin3.13%3.00%2.94%2.99%2.62%-51 bps
Efficiency Ratio44.61%58.48%42.72%41.66%57.04%+1,243 bps
Non-Interest Burden1.10%1.66%1.07%1.06%1.39%+29 bps
Growth
Asset Growth (YoY)0.76%49.24%51.97%49.94%47.36%+4,660 bps
Loan Growth (YoY)6.49%39.83%38.83%31.07%22.38%+1,589 bps
Deposit Growth (YoY)-6.39%71.03%64.85%71.20%69.56%+7,595 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.01%0.50%0.01%0.23%+23 bps
Allowance / Loans0.89%1.19%1.03%1.05%1.09%+20 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 Capital31.32%15.42%16.02%16.60%17.70%-1,362 bps
Equity / Assets19.51%12.69%12.91%13.29%13.85%-566 bps
Liquidity & Funding
Loans / Deposits104.92%80.35%83.29%82.62%75.73%-2,919 bps
Liquid Assets / Assets0.06%0.00%0.00%0.00%0.00%-6 bps
CRE / Total Capitaln/an/an/an/an/an/an/a