PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Cornerstone Bank

Stamford, CT · Cert 26006

FDIC

Q4 2005

$211.3MAssets
$141.0MLoans
$183.7MDeposits
$18.2MEquity
Loan mix
69%RE $34.4M31%C&I $15.2M0%Consumer $0.2MQ4 2004Q4 2005
Deposit mix
76%Interest-bearing $139.6M24%Noninterest $44.1MQ4 2004Q4 2005

NIM

5.02%Q4 ’035.51%Q4 ’045.97%Q4 ’05+23%+2%

Non-interest income vs. expense

3.53%Q4 ’033.75%Q4 ’0411.78%Q4 ’05+13%+283%

Executive Summary

  • Earnings: ROA of -4.01%, down 503 bps year over year; NIM at 4.59%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.24%.
  • Funding: loans stand at 76.72% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

-4.01%-503 bps YoY

Net Interest Margin (quarter, annualized)

4.59%+10 bps YoY

Efficiency Ratio (quarter, annualized)

230%+15,964 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.02%0.80%0.84%1.21%-4.01%-503 bps
Return on Equity9.93%7.89%8.50%11.58%-41.10%-5,103 bps
Net Interest Margin4.49%4.56%4.59%4.57%4.59%+10 bps
Efficiency Ratio70.65%71.24%66.02%68.52%230%+15,964 bps
Non-Interest Burden2.94%3.10%2.76%2.88%11.25%+831 bps
Growth
Asset Growth (YoY)-6.14%5.32%0.25%0.71%-0.14%+599 bps
Loan Growth (YoY)10.30%7.93%5.40%-0.31%4.56%-575 bps
Deposit Growth (YoY)-10.93%2.58%-0.42%3.83%3.65%+1,457 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.39%0.09%0.05%0.17%0.24%-14 bps
Allowance / Loans1.64%1.60%1.64%1.66%1.58%-7 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 Capital15.48%14.99%15.48%16.11%12.36%-312 bps
Equity / Assets10.53%9.78%10.08%10.84%8.63%-190 bps
Liquidity & Funding
Loans / Deposits76.05%72.27%70.72%72.50%76.72%+67 bps
Liquid Assets / Assets22.65%20.09%19.02%19.65%17.69%-497 bps
CRE / Total Capitaln/an/an/an/an/an/an/a