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First National Bank of Litchfield, The

Litchfield, CT · Cert 2500

FDIC

Q1 2010

$521.7MAssets
$369.5MLoans
$363.3MDeposits
$39.9MEquity
Loan mix
87%RE $264.6M13%C&I $38.4M1%Consumer $1.6MQ1 2009Q1 2010
Deposit mix
96%Interest-bearing $349.5M4%Noninterest $13.8MQ1 2009Q1 2010

NIM

5.61%Q1 ’084.82%Q1 ’094.32%Q1 ’10+2%-1%

Non-interest income vs. expense

2.94%Q1 ’082.98%Q1 ’093.22%Q1 ’10+2%+5%

Executive Summary

  • Earnings: ROA of 0.22%, down 14 bps year over year; NIM at 2.94%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.14%.
  • Funding: loans stand at 101.71% of deposits as of Q1 2010.

Financial Results

Return on Assets (quarter, annualized)

0.22%-14 bps YoY

Net Interest Margin (quarter, annualized)

2.94%-4 bps YoY

Efficiency Ratio (quarter, annualized)

86.63%+476 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2009Q2 2009Q3 2009Q4 2009Q1 2010YoY ΔTrend
Earnings
Return on Assets0.36%0.27%1-1.46%0.46%0.22%-14 bps
Return on Equity5.42%3.76%-20.45%6.38%2.90%-252 bps
Net Interest Margin2.97%3.05%2.74%2.81%2.94%-4 bps
Efficiency Ratio81.88%87.10%100.12%88.96%86.63%+476 bps
Non-Interest Burden2.31%2.57%2.75%2.43%2.44%+13 bps
Growth
Asset Growth (YoY)3.08%1.21%8.85%-0.80%-5.06%-814 bps
Loan Growth (YoY)18.75%16.81%8.12%1.53%-6.72%-2,548 bps
Deposit Growth (YoY)5.62%9.09%12.23%5.22%-0.28%-590 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.38%0.08%0.66%0.23%0.14%-24 bps
Allowance / Loans0.91%1.02%1.59%1.61%1.65%+74 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 Capital10.20%11.34%10.80%11.09%11.47%+127 bps
Equity / Assets6.91%7.27%7.06%7.43%7.66%+74 bps
Liquidity & Funding
Loans / Deposits108.73%104.38%99.54%101.56%101.71%-702 bps
Liquid Assets / Assets0.01%1.39%0.01%0.06%4.80%+479 bps
CRE / Total Capitaln/an/an/an/an/an/an/a