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Beverly National Bank, The

Beverly, MA · Cert 2557

FDIC

Q4 2009

$535.4MAssets
$313.1MLoans
$412.8MDeposits
$33.2MEquity
Loan mix
76%RE $162.9M23%C&I $49.9M0%Consumer $0.2MQ4 2008Q4 2009
Deposit mix
78%Interest-bearing $322.7M22%Noninterest $90.1MQ4 2008Q4 2009

NIM

5.84%Q4 ’075.36%Q4 ’08-11.27%Q4 ’09+11%-324%

Non-interest income vs. expense

3.21%Q4 ’073.29%Q4 ’08-8.29%Q4 ’09+11%-370%

Executive Summary

  • Earnings: ROA of -1.01%, down 149 bps year over year; NIM at -8.38%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 75.85% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

-1.01%-149 bps YoY

Net Interest Margin (quarter, annualized)

-8.38%-1,212 bps YoY

Efficiency Ratio (quarter, annualized)

65.36%-602 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets0.48%0.74%0.54%0.60%-1.01%-149 bps
Return on Equity5.95%9.12%6.60%7.57%-14.38%-2,033 bps
Net Interest Margin3.74%3.92%3.69%3.41%-8.38%-1,212 bps
Efficiency Ratio71.38%74.01%81.75%79.98%65.36%-602 bps
Non-Interest Burden2.42%2.70%2.88%2.58%-6.54%-897 bps
Growth
Asset Growth (YoY)2.84%-0.66%0.73%9.65%10.59%+775 bps
Loan Growth (YoY)5.22%0.87%-3.33%-3.19%-7.56%-1,278 bps
Deposit Growth (YoY)-2.90%-2.67%1.24%10.46%21.31%+2,421 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.25%-0.04%0.05%0.21%0.00%-25 bps
Allowance / Loans1.22%1.30%1.38%1.34%1.40%+18 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 Capital12.61%12.86%12.20%12.33%10.90%-171 bps
Equity / Assets8.00%8.25%7.97%7.82%6.20%-180 bps
Liquidity & Funding
Loans / Deposits99.55%96.38%88.02%82.41%75.85%-2,370 bps
Liquid Assets / Assets0.01%0.02%4.47%11.92%23.69%+2,368 bps
CRE / Total Capitaln/an/an/an/an/an/an/a