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Andover Bank

Andover, MA · Cert 23284

FDIC

Q4 2001

$1.8BAssets
$1.1BLoans
$1.1BDeposits
$277.3MEquity
Loan mix
95%RE $765.0M5%C&I $37.3M0%Consumer $1.1MQ4 2000Q4 2001
Deposit mix
95%Interest-bearing $1.1B5%Noninterest $0.1BQ4 2000Q4 2001

NIM

7.36%Q1 ’017.24%Q3 ’010.90%Q4 ’01+4%-84%

Non-interest income vs. expense

1.60%Q1 ’011.63%Q3 ’010.23%Q4 ’01-2%-87%

Executive Summary

  • Earnings: ROA of 0.23%, down 100 bps year over year; NIM at 0.55%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.21%.
  • Funding: loans stand at 97.58% of deposits as of Q4 2001.

Financial Results

Return on Assets (YTD, annualized)

0.23%-100 bps YoY

Net Interest Margin (YTD, annualized)

0.55%

Efficiency Ratio (YTD, annualized)

39.22%

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2000Q1 2001Q2 2001Q3 2001Q4 2001YoY ΔTrend
Earnings
Return on Assets1.24%1.20%1.26%1.06%0.23%-100 bps
Return on Equityn/an/an/an/an/an/an/a
Net Interest Marginn/a3.37%3.45%3.50%0.55%n/a
Efficiency Ration/a45.23%44.88%43.73%39.22%n/a
Non-Interest Burdenn/a1.44%1.43%1.40%0.19%n/a
Growth
Asset Growth (YoY)13.51%6.97%0.77%-0.75%5.90%-761 bps
Loan Growth (YoY)11.64%11.92%4.70%-1.14%-10.97%-2,261 bps
Deposit Growth (YoY)14.25%14.42%6.41%2.58%1.96%-1,229 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loansn/a-0.04%-0.02%0.05%0.21%n/a
Allowance / Loansn/a1.03%1.06%1.47%1.53%n/a
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 Capitaln/a13.01%13.23%13.34%11.88%n/a
Equity / Assetsn/a8.02%8.19%8.58%15.48%n/a
Liquidity & Funding
Loans / Deposits111.75%110.67%110.10%106.96%97.58%-1,417 bps
Liquid Assets / Assets0.00%2.16%2.00%1.82%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a