PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Commerce Bank/Shore National Association

Forked River, NJ · Cert 21002

FDIC

Q1 2004

$2.8BAssets
$950.3MLoans
$2.6BDeposits
$188.7MEquity
Loan mix
78%RE $332.3M20%C&I $86.7M1%Consumer $4.7MQ1 2003Q1 2004
Deposit mix
87%Interest-bearing $2.2B13%Noninterest $0.3BQ1 2003Q1 2004

NIM

5.18%Q1 ’024.48%Q1 ’035.00%Q1 ’04-1%+20%

Non-interest income vs. expense

2.46%Q1 ’022.03%Q1 ’031.67%Q1 ’04-21%-25%

Executive Summary

  • Earnings: ROA of 2.07%, up 60 bps year over year; NIM at 4.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 36.84% of deposits as of Q1 2004.

Financial Results

Return on Assets (YTD, annualized)

2.07%+60 bps YoY

Net Interest Margin (YTD, annualized)

4.47%+76 bps YoY

Efficiency Ratio (YTD, annualized)

32.17%-1,322 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets1.47%1.44%1.54%1.62%2.07%+60 bps
Return on Equity24.04%24.89%26.17%27.24%32.14%+810 bps
Net Interest Margin3.71%3.43%3.35%3.47%4.47%+76 bps
Efficiency Ratio45.39%46.24%43.66%42.25%32.17%-1,322 bps
Non-Interest Burden1.27%1.23%1.12%1.11%0.96%-32 bps
Growth
Asset Growth (YoY)25.11%30.60%25.16%31.17%28.58%+347 bps
Loan Growth (YoY)23.18%19.29%18.71%25.34%26.81%+363 bps
Deposit Growth (YoY)24.85%31.41%25.71%28.45%26.96%+211 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.06%0.06%0.08%0.06%0.03%-3 bps
Allowance / Loans1.21%1.23%1.22%1.17%1.21%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 Capital12.05%11.19%13.11%13.20%13.62%+158 bps
Equity / Assets5.90%5.23%6.07%6.14%6.75%+85 bps
Liquidity & Funding
Loans / Deposits36.88%33.93%33.65%36.52%36.84%-4 bps
Liquid Assets / Assets4.28%2.92%12.53%14.11%17.52%+1,324 bps
CRE / Total Capitaln/an/an/an/an/an/an/a