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Park West Bank and Trust Company

West Springfield, MA · Cert 18532

FDIC

Q4 2006

$714.3MAssets
$450.0MLoans
$629.3MDeposits
$53.5MEquity
Loan mix
74%RE $176.8M26%C&I $61.7M0%Consumer $0.1MQ4 2005Q4 2006
Deposit mix
86%Interest-bearing $541.5M14%Noninterest $87.8MQ4 2005Q4 2006

NIM

5.00%Q4 ’044.90%Q4 ’055.36%Q4 ’06-9%-17%

Non-interest income vs. expense

2.46%Q4 ’042.40%Q4 ’053.07%Q4 ’06-3%+38%

Executive Summary

  • Earnings: ROA of -0.79%, down 155 bps year over year; NIM at 2.50%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.08%.
  • Funding: loans stand at 71.51% of deposits as of Q4 2006.

Financial Results

Return on Assets (YTD, annualized)

-0.79%-155 bps YoY

Net Interest Margin (YTD, annualized)

2.50%-49 bps YoY

Efficiency Ratio (YTD, annualized)

104.71%+3,568 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets0.76%0.55%0.47%0.38%-0.79%-155 bps
Return on Equity9.32%7.15%6.17%4.97%-10.37%-1,969 bps
Net Interest Margin2.99%2.80%2.66%2.61%2.50%-49 bps
Efficiency Ratio69.03%75.02%78.12%81.72%104.71%+3,568 bps
Non-Interest Burden1.92%1.99%1.99%2.05%2.63%+72 bps
Growth
Asset Growth (YoY)6.92%7.94%6.82%7.07%-11.51%-1,843 bps
Loan Growth (YoY)-1.56%-0.60%-1.06%4.11%4.05%+561 bps
Deposit Growth (YoY)1.57%0.08%1.60%2.63%4.93%+337 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.02%0.03%0.07%0.08%+4 bps
Allowance / Loans0.97%0.94%0.92%0.88%0.90%-7 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 Capital12.54%12.57%12.50%12.51%11.02%-152 bps
Equity / Assets7.82%7.60%7.51%7.64%7.49%-33 bps
Liquidity & Funding
Loans / Deposits72.11%75.69%73.93%74.93%71.51%-61 bps
Liquid Assets / Assets18.75%18.80%18.51%18.15%2.34%-1,642 bps
CRE / Total Capitaln/an/an/an/an/an/an/a