Andover Bank

Andover, MA · Cert 23284

FDIC

Q4 2001

$1.8BAssets

$1.1BLoans

$1.1BDeposits

$277.3MEquity

Loan mix

Deposit mix

Executive Summary

Earnings: ROA of -2.15%, down 339 bps year over year; NIM at -7.31%.
Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.68%.
Funding: loans stand at 97.58% of deposits as of Q4 2001.

Return on Assets (quarter, annualized)

-2.15%-339 bps YoY

Net Interest Margin (quarter, annualized)

-7.31%

Efficiency Ratio (quarter, annualized)

39.22%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

Metric	Q1 2000	Q2 2000	Q3 2000	Q4 2000	Q1 2001	Q2 2001	Q3 2001	Q4 2001	YoY Δ	Trend
Earnings
Return on Assets	1.20%	1.21%	1.22%	1.24%	1.20%	1.33%	0.64%	-2.15%	-339 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	16.41%	7.67%	-17.65%	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	3.37%	3.53%	3.53%	-7.31%	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	45.23%	44.56%	41.46%	39.22%	n/a
Non-Interest Burden	n/a	n/a	n/a	n/a	1.44%	1.42%	1.33%	-3.07%	n/a
Growth
Asset Growth (YoY)	16.00%	16.48%	11.65%	13.51%	6.97%	0.77%	-0.75%	5.90%	-761 bps
Loan Growth (YoY)	13.69%	16.04%	13.14%	11.64%	11.92%	4.70%	-1.14%	-10.97%	-2,261 bps
Deposit Growth (YoY)	11.38%	19.37%	13.45%	14.25%	14.42%	6.41%	2.58%	1.96%	-1,229 bps
Asset Quality
Nonperforming Loans / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	-0.04%	0.00%	0.19%	0.68%	n/a
Allowance / Loans	n/a	n/a	n/a	n/a	1.03%	1.06%	1.47%	1.53%	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	n/a	n/a	n/a	n/a	13.01%	13.23%	13.34%	11.88%	n/a
Equity / Assets	n/a	n/a	n/a	n/a	8.02%	8.19%	8.58%	15.48%	n/a
Liquidity & Funding
Loans / Deposits	113.14%	111.90%	110.99%	111.75%	110.67%	110.10%	106.96%	97.58%	-1,417 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	2.16%	2.00%	1.82%	0.00%	0 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a