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Letter portraitLegal landscapeQuarterYTD

Community National Bank

Hudson, MA · Cert 2593

FDIC

Q3 2003

$461.0MAssets
$232.4MLoans
$346.5MDeposits
$40.6MEquity
Loan mix
77%RE $103.9M19%C&I $26.2M3%Consumer $4.4MQ3 2002Q3 2003
Deposit mix
76%Interest-bearing $262.6M24%Noninterest $83.9MQ3 2002Q3 2003

NIM

6.30%Q3 ’015.38%Q3 ’024.53%Q3 ’03-1%-15%

Non-interest income vs. expense

3.19%Q3 ’013.03%Q3 ’023.18%Q3 ’03-1%+6%

Executive Summary

  • Earnings: ROA of 1.09%, down 31 bps year over year; NIM at 3.48%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.04%.
  • Funding: loans stand at 67.06% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

1.09%-31 bps YoY

Net Interest Margin (quarter, annualized)

3.48%-59 bps YoY

Efficiency Ratio (quarter, annualized)

68.35%+1,017 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.40%1.16%1.26%1.26%1.09%-31 bps
Return on Equity15.35%12.84%14.42%14.45%12.38%-297 bps
Net Interest Margin4.07%3.90%3.86%3.76%3.48%-59 bps
Efficiency Ratio58.17%68.38%62.74%62.00%68.35%+1,017 bps
Non-Interest Burden1.90%2.29%1.99%1.89%2.00%+11 bps
Growth
Asset Growth (YoY)6.69%8.21%8.39%9.89%8.82%+213 bps
Loan Growth (YoY)9.11%7.12%13.44%14.29%16.22%+711 bps
Deposit Growth (YoY)3.93%10.82%4.86%4.84%1.72%-221 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.04%0.14%0.06%0.00%-0.04%-8 bps
Allowance / Loans1.38%1.34%1.28%1.25%1.23%-15 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 Capital16.98%16.32%15.92%16.11%16.62%-35 bps
Equity / Assets9.17%8.87%8.64%8.76%8.81%-36 bps
Liquidity & Funding
Loans / Deposits58.69%57.52%60.84%63.70%67.06%+837 bps
Liquid Assets / Assets24.25%26.48%28.48%30.24%26.93%+268 bps
CRE / Total Capitaln/an/an/an/an/an/an/a