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Milford National Bank and Trust Company the

Milford, MA · Cert 2615

FDIC · 4 branches

Q3 2018

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: Q3 2018, the quarter ended September 30, 2018, 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

Milford National Bank and Trust Company the

Milford, MA · Cert 2615

FDIC · 4 branches

Q3 2018

$359.6MAssets
$301.9MLoans
$299.3MDeposits
$30.5MEquity
Loan mix
82%RE $191.7M17%C&I $39.6M1%Consumer $3.5MQ3 2017Q3 2018
Deposit mix
95%Interest-bearing $285.6M5%Noninterest $13.8MQ3 2017Q3 2018

NIM

3.62%Q3 ’163.99%Q3 ’174.07%Q3 ’18+9%-5%

Non-interest income vs. expense

3.07%Q3 ’163.24%Q3 ’173.17%Q3 ’18+10%+1%

Market Position · Worcester, MA-CT · 2018 SOD (annual) · 1.6% share · #20 of 37 inst. · $0.3B of $18.4B

Executive Summary

  • Earnings: ROA of 0.58%, unchanged from a year ago; NIM at 3.51%.
  • Asset quality: problem loans at 0.48% of loans (-46 bps YoY), with net charge-offs at 0.03%.
  • Capital: tier 1 leverage ratio of 8.58%, down 69 bps from a year ago.
  • Funding: loans stand at 100.85% of deposits as of Q3 2018.

Financial Results

Return on Assets (YTD, annualized)

0.58%0 bps YoY

Net Interest Margin (YTD, annualized)

3.51%-20 bps YoY

Efficiency Ratio (YTD, annualized)

78.41%+361 bps YoY

Tier 1 Leverage Ratio

8.58%-69 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2017Q4 2017Q1 2018Q2 2018Q3 2018YoY ΔTrend
Earnings
Return on Assets0.58%0.43%0.87%0.44%0.58%0 bps
Return on Equity6.66%4.98%10.60%5.41%7.00%+34 bps
Net Interest Margin3.71%3.61%3.77%3.48%3.51%-20 bps
Efficiency Ratio74.81%75.31%69.97%82.89%78.41%+361 bps
Non-Interest Burden2.62%2.57%2.47%2.79%2.64%+2 bps
Growth
Asset Growth (YoY)3.99%9.71%9.69%8.35%8.91%+492 bps
Loan Growth (YoY)1.63%9.01%9.71%13.51%10.45%+882 bps
Deposit Growth (YoY)4.81%11.59%6.59%3.94%6.76%+195 bps
Asset Quality
Nonperforming Loans / Loans0.94%0.71%0.48%0.48%0.48%-46 bps
Net Charge-Offs / Loans0.02%0.01%-0.10%-0.04%0.03%+1 bps
Allowance / Loans1.41%1.34%1.34%1.35%1.38%-2 bps
Allowance Coverage of NPLs1.5x1.9x2.8x2.8x2.9x+1.4x
Capital
Tier 1 Leverage Ratio9.27%8.94%8.59%8.42%8.58%-69 bps
Total Risk-Based Capital13.34%12.55%12.40%12.29%12.98%-37 bps
Equity / Assets8.93%8.21%8.19%8.16%8.49%-45 bps
Liquidity & Funding
Loans / Deposits97.49%100.99%102.37%106.23%100.85%+336 bps
Liquid Assets / Assets4.22%4.33%4.00%3.00%4.74%+51 bps
CRE / Total Capitaln/an/an/an/an/an/an/a