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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

4.90%Q4 ’045.16%Q4 ’055.41%Q4 ’06-6%-32%

Non-interest income vs. expense

2.45%Q4 ’042.33%Q4 ’054.71%Q4 ’06-7%+126%

Executive Summary

  • Earnings: ROA of -4.48%, down 522 bps year over year; NIM at 2.03%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.09%.
  • Funding: loans stand at 71.51% of deposits as of Q4 2006.

Financial Results

Return on Assets (quarter, annualized)

-4.48%-522 bps YoY

Net Interest Margin (quarter, annualized)

2.03%-95 bps YoY

Efficiency Ratio (quarter, annualized)

191.53%+12,330 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets0.74%0.55%0.39%0.20%-4.48%-522 bps
Return on Equity9.21%7.15%5.18%2.61%-59.22%-6,843 bps
Net Interest Margin2.98%2.80%2.58%2.48%2.03%-95 bps
Efficiency Ratio68.23%75.02%81.42%89.31%191.53%+12,330 bps
Non-Interest Burden1.90%1.99%2.02%2.17%4.28%+238 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 / Loans0.08%0.02%0.04%0.14%0.09%+1 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