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Abington Savings Bank

Abington, MA · Cert 22051

FDIC

Q1 2004

$815.5MAssets
$396.3MLoans
$642.9MDeposits
$71.8MEquity
Deposit mix
84%Interest-bearing $541.2M16%Noninterest $101.7MQ1 2003Q1 2004

NIM

5.82%Q1 ’024.64%Q1 ’034.47%Q1 ’04-4%+14%

Non-interest income vs. expense

3.03%Q1 ’023.77%Q1 ’033.61%Q1 ’04+75%-6%

Executive Summary

  • Earnings: ROA of 0.73%, up 16 bps year over year; NIM at 3.14%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.05%.
  • Funding: loans stand at 61.64% of deposits as of Q1 2004.

Financial Results

Return on Assets (YTD, annualized)

0.73%+16 bps YoY

Net Interest Margin (YTD, annualized)

3.14%+38 bps YoY

Efficiency Ratio (YTD, annualized)

74.27%-966 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 Assets0.57%0.50%0.42%0.48%0.73%+16 bps
Return on Equity7.64%6.64%5.45%6.22%8.48%+84 bps
Net Interest Margin2.76%2.59%2.83%2.94%3.14%+38 bps
Efficiency Ratio83.92%82.04%85.65%83.53%74.27%-966 bps
Non-Interest Burden2.11%1.85%2.18%2.16%1.99%-12 bps
Growth
Asset Growth (YoY)18.13%19.64%-11.83%-9.57%-18.72%-3,685 bps
Loan Growth (YoY)11.58%21.76%-6.03%0.00%-4.63%-1,621 bps
Deposit Growth (YoY)26.01%20.23%1.38%0.73%-3.50%-2,951 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.15%0.12%0.09%0.05%+3 bps
Allowance / Loans1.01%0.98%1.06%1.06%1.05%+4 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 Capital11.57%13.07%14.64%14.91%15.42%+386 bps
Equity / Assets7.16%7.46%8.15%8.39%8.80%+164 bps
Liquidity & Funding
Loans / Deposits62.38%65.34%60.88%60.80%61.64%-73 bps
Liquid Assets / Assets0.57%0.64%0.00%0.00%0.00%-57 bps
CRE / Total Capitaln/an/an/an/an/an/an/a