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First National Bank of Ipswich, The

Ipswich, MA · Cert 2595

FDIC · 6 branches

Q4 2019

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q4 2019, the quarter ended December 31, 2019, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

First National Bank of Ipswich, The

Ipswich, MA · Cert 2595

FDIC · 6 branches

Q4 2019

$466.4MAssets
$300.7MLoans
$374.9MDeposits
$44.6MEquity
Loan mix
86%RE $194.6M14%C&I $32.3M0%Consumer $0.2MQ4 2018Q4 2019
Deposit mix
71%Interest-bearing $264.3M29%Noninterest $110.6MQ4 2018Q4 2019

NIM

3.54%Q4 ’173.77%Q4 ’183.60%Q4 ’19+3%-14%

Non-interest income vs. expense

3.09%Q4 ’172.93%Q4 ’182.65%Q4 ’19-10%-5%

Market Position · Boston-Cambridge-Newton, MA-NH · 2019 SOD (annual) · 0.1% share · #60 of 119 inst. · $0.4B of $357.4B

Executive Summary

  • Earnings: ROA of 0.32%, down 11 bps year over year; NIM at 2.69%.
  • Asset quality: problem loans at 0.42% of loans (-91 bps YoY), with net charge-offs at 0.32%.
  • Capital: tier 1 leverage ratio of 8.80%, down 79 bps from a year ago.
  • Funding: loans stand at 80.20% of deposits as of Q4 2019.

Financial Results

Return on Assets (YTD, annualized)

0.32%-11 bps YoY

Net Interest Margin (YTD, annualized)

2.69%-42 bps YoY

Efficiency Ratio (YTD, annualized)

85.28%+664 bps YoY

Tier 1 Leverage Ratio

8.80%-79 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2018Q1 2019Q2 2019Q3 2019Q4 2019YoY ΔTrend
Earnings
Return on Assets0.44%0.34%0.25%0.27%0.32%-11 bps
Return on Equity4.41%3.42%2.51%2.80%3.29%-112 bps
Net Interest Margin3.12%3.08%2.95%2.86%2.69%-42 bps
Efficiency Ratio78.64%85.51%87.25%86.78%85.28%+664 bps
Non-Interest Burden2.38%2.56%2.54%2.45%2.27%-12 bps
Growth
Asset Growth (YoY)4.03%0.78%13.25%12.21%10.63%+660 bps
Loan Growth (YoY)0.31%-3.84%-0.81%0.57%2.34%+203 bps
Deposit Growth (YoY)5.48%1.19%6.46%4.37%2.83%-265 bps
Asset Quality
Nonperforming Loans / Loans1.33%0.55%0.53%0.46%0.42%-91 bps
Net Charge-Offs / Loans0.18%1.21%0.62%0.43%0.32%+14 bps
Allowance / Loans1.09%0.85%0.86%0.82%0.78%-31 bps
Allowance Coverage of NPLs0.8x1.5x1.6x1.8x1.9x+1.1x
Capital
Tier 1 Leverage Ratio9.59%9.63%9.34%9.11%8.80%-79 bps
Total Risk-Based Capital15.06%14.99%14.07%13.86%14.24%-82 bps
Equity / Assets9.90%10.19%9.66%9.47%9.55%-34 bps
Liquidity & Funding
Loans / Deposits80.59%77.67%79.76%79.52%80.20%-39 bps
Liquid Assets / Assets3.92%2.49%3.04%5.32%6.29%+237 bps
CRE / Total Capitaln/an/an/an/an/an/an/a