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Medford Savings Bank

Medford, MA · Cert 23290

FDIC

Q3 2002

$1.5BAssets
$669.4MLoans
$1.2BDeposits
$122.1MEquity
Loan mix
97%RE $535.2M3%C&I $15.7M0%Consumer $0.7MQ3 2001Q3 2002
Deposit mix
93%Interest-bearing $1.1B7%Noninterest $0.1BQ3 2001Q3 2002

NIM

6.86%Q1 ’016.53%Q3 ’015.83%Q3 ’02-4%+8%

Non-interest income vs. expense

1.58%Q1 ’011.54%Q3 ’011.56%Q3 ’02-1%+0%

Executive Summary

  • Earnings: ROA of 1.07%, up 5 bps year over year; NIM at 2.95%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.05%.
  • Funding: loans stand at 56.50% of deposits as of Q3 2002.

Financial Results

Return on Assets (YTD, annualized)

1.07%+5 bps YoY

Net Interest Margin (YTD, annualized)

2.95%+23 bps YoY

Efficiency Ratio (YTD, annualized)

47.92%-461 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2001Q4 2001Q1 2002Q2 2002Q3 2002YoY ΔTrend
Earnings
Return on Assets1.03%1.01%1.07%1.08%1.07%+5 bps
Return on Equityn/an/a14.37%14.18%13.80%n/a
Net Interest Margin2.72%2.70%3.03%3.02%2.95%+23 bps
Efficiency Ratio52.54%52.40%46.38%47.19%47.92%-461 bps
Non-Interest Burden1.33%1.31%1.35%1.35%1.33%0 bps
Growth
Asset Growth (YoY)7.40%7.83%8.54%6.04%4.99%-241 bps
Loan Growth (YoY)2.17%2.02%1.34%-0.03%-2.21%-438 bps
Deposit Growth (YoY)11.72%11.90%13.49%11.31%10.04%-168 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%-0.18%-0.08%-0.05%-6 bps
Allowance / Loans1.03%1.04%1.09%1.08%1.10%+7 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 Capital13.22%13.62%12.76%13.33%14.26%+104 bps
Equity / Assets7.87%7.79%7.14%7.82%8.29%+42 bps
Liquidity & Funding
Loans / Deposits63.57%62.23%59.89%58.98%56.50%-708 bps
Liquid Assets / Assets4.19%4.04%3.37%3.18%2.79%-141 bps
CRE / Total Capitaln/an/an/an/an/an/an/a