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Allfirst Financial Center National Association

Millsboro, DE · Cert 23834

FDIC

Q2 2003

$80.4MAssets
$11.4MLoans
$27.2MDeposits
$8.9MEquity
Deposit mix
89%Interest-bearing $24.1M11%Noninterest $3.1MQ2 2002Q2 2003

NIM

4.02%Q2 ’012.59%Q2 ’02-0.09%Q2 ’03-28%-102%

Non-interest income vs. expense

0.72%Q2 ’011.54%Q2 ’02-0.34%Q2 ’03+145%-130%

Executive Summary

  • Earnings: ROA of -0.05%, down 27 bps year over year; NIM at -0.03%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.28%.
  • Funding: loans stand at 41.98% of deposits as of Q2 2003.

Financial Results

Return on Assets (quarter, annualized)

-0.05%-27 bps YoY

Net Interest Margin (quarter, annualized)

-0.03%-129 bps YoY

Efficiency Ratio (quarter, annualized)

82.21%-1,668 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets0.23%0.21%0.24%0.15%-0.05%-27 bps
Return on Equity1.34%1.38%2.00%1.61%-0.51%-185 bps
Net Interest Margin1.26%1.16%1.24%1.14%-0.03%-129 bps
Efficiency Ratio98.89%111.68%100.00%106.25%82.21%-1,668 bps
Non-Interest Burden1.25%1.32%1.24%1.22%-0.37%-162 bps
Growth
Asset Growth (YoY)-35.24%-9.93%16.83%107.16%68.66%+10,390 bps
Loan Growth (YoY)18.93%42.09%12.70%28.78%7.33%-1,160 bps
Deposit Growth (YoY)-55.44%-51.16%-18.96%-4.10%23.84%+7,928 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.90%-0.09%-0.03%-0.03%0.28%-62 bps
Allowance / Loans1.50%1.21%1.25%1.23%1.34%-16 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 Capital36.46%29.98%28.51%23.97%28.76%-770 bps
Equity / Assets17.55%12.82%10.93%8.03%11.09%-646 bps
Liquidity & Funding
Loans / Deposits48.44%63.84%41.71%44.54%41.98%-646 bps
Liquid Assets / Assets0.21%0.00%0.00%0.00%0.00%-21 bps
CRE / Total Capitaln/an/an/an/an/an/an/a