PackageTrendsPeer
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Massbank

Reading, MA · Cert 22089

FDIC

Q3 2008

$821.2MAssets
$206.3MLoans
$643.8MDeposits
$167.3MEquity
Loan mix
100%RE $197.1M0%C&I $0.1M0%Consumer $0.1MQ3 2007Q3 2008
Deposit mix
96%Interest-bearing $619.0M4%Noninterest $24.8MQ3 2007Q3 2008

NIM

4.67%Q3 ’064.94%Q3 ’070.28%Q3 ’08-7%-96%

Non-interest income vs. expense

1.43%Q3 ’061.61%Q3 ’070.13%Q3 ’08-25%-81%

Executive Summary

  • Earnings: ROA of -0.05%, down 95 bps year over year; NIM at 0.10%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 32.04% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

-0.05%-95 bps YoY

Net Interest Margin (YTD, annualized)

0.10%-223 bps YoY

Efficiency Ratio (YTD, annualized)

227%+17,286 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.90%0.93%0.10%-0.03%-0.05%-95 bps
Return on Equity7.30%7.44%0.78%-0.27%-0.33%-763 bps
Net Interest Margin2.34%2.35%2.02%1.83%0.10%-223 bps
Efficiency Ratio53.75%52.27%91.17%100.87%227%+17,286 bps
Non-Interest Burden0.95%0.92%1.80%1.85%0.18%-78 bps
Growth
Asset Growth (YoY)-3.41%-4.94%-3.41%-4.16%0.58%+398 bps
Loan Growth (YoY)28.51%15.86%37.67%33.64%-34.19%-6,270 bps
Deposit Growth (YoY)-4.88%-5.75%-4.70%-4.71%-7.89%-301 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.44%0.47%0.40%0.44%0.00%-44 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 Capital33.76%33.52%26.79%26.33%40.49%+672 bps
Equity / Assets12.58%13.02%12.91%12.98%20.37%+779 bps
Liquidity & Funding
Loans / Deposits44.84%42.11%50.75%47.04%32.04%-1,280 bps
Liquid Assets / Assets1.00%1.01%0.94%0.93%0.00%-100 bps
CRE / Total Capitaln/an/an/an/an/an/an/a