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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 ’016.50%Q3 ’015.68%Q3 ’02-3%+4%

Non-interest income vs. expense

1.58%Q1 ’011.58%Q3 ’011.55%Q3 ’02+2%-5%

Executive Summary

  • Earnings: ROA of 1.07%, down 9 bps year over year; NIM at 2.86%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 56.50% of deposits as of Q3 2002.

Financial Results

Return on Assets (quarter, annualized)

1.07%-9 bps YoY

Net Interest Margin (quarter, annualized)

2.86%+11 bps YoY

Efficiency Ratio (quarter, annualized)

49.44%-409 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2001Q4 2001Q1 2002Q2 2002Q3 2002YoY ΔTrend
Earnings
Return on Assets1.15%0.96%1.07%1.07%1.07%-9 bps
Return on Equity14.91%12.29%14.37%14.36%13.22%-169 bps
Net Interest Margin2.75%2.85%3.03%3.05%2.86%+11 bps
Efficiency Ratio53.53%52.02%46.38%47.98%49.44%-409 bps
Non-Interest Burden1.38%1.36%1.35%1.35%1.31%-7 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 / Loans0.01%0.00%-0.18%0.02%0.00%-1 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