Valley Industrial Employees

Kirkwood, NY · Charter 21325

Q4 1998

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2

Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 1998, the quarter ended December 31, 1998, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Kirkwood, NY · Charter 21325

Q4 1998

$24.3MAssets

$14.8MLoans

$22.5MShares

n/aNet Worth

Return on Assets (YTD, annualized)

2.84%-24 bps YoY

Net Interest Margin (YTD, annualized)

n/a

Efficiency Ratio (YTD, annualized)

n/a

Net Worth / Assets

n/a

Year to date, annualized, through each quarter.

Metric	Q2 1995	Q4 1995	Q2 1996	Q4 1996	Q2 1997	Q4 1997	Q2 1998	Q4 1998	YoY Δ	Trend
Earnings
Return on Assets	2.68%	2.93%	2.74%	3.08%	2.54%	2.76%	2.47%	2.84%	-24 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Growth
Asset Growth (YoY)	n/a	n/a	-4.04%	-7.85%	-5.79%	-6.41%	-8.52%	-1.98%	+587 bps
Loan Growth (YoY)	n/a	n/a	21.20%	18.03%	11.95%	9.75%	8.97%	9.01%	-902 bps
Share Growth (YoY)	n/a	n/a	-5.45%	-8.84%	-5.98%	-7.10%	-8.72%	-1.89%	+696 bps
Asset Quality
Delinquent Loans / Loans	0.86%	0.96%	0.70%	0.96%	1.00%	1.03%	0.87%	0.40%	-56 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Allowance / Loans	1.35%	1.04%	0.87%	0.73%	0.88%	0.73%	0.99%	0.88%	+15 bps
Capital
Risk-Based Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net Worth / Assets	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Liquidity & Funding
Loans / Shares	48.90%	53.71%	51.64%	59.50%	58.22%	63.45%	61.65%	66.11%	+661 bps
Liquid Assets / Assets	28.97%	30.24%	26.83%	22.43%	21.47%	26.76%	29.63%	28.92%	+649 bps