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First & Ocean National Bank

Seabrook, NH · Cert 2623

FDIC

Q3 2003

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 2003, the quarter ended September 30, 2003, 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 & Ocean National Bank

Seabrook, NH · Cert 2623

FDIC

Q3 2003

$271.7MAssets
$209.8MLoans
$229.9MDeposits
$19.7MEquity
Loan mix
88%RE $118.8M12%C&I $15.8M0%Consumer $0.4MQ3 2002Q3 2003
Deposit mix
87%Interest-bearing $200.2M13%Noninterest $29.7MQ3 2002Q3 2003

NIM

7.08%Q3 ’015.79%Q3 ’024.86%Q3 ’03-2%-11%

Non-interest income vs. expense

3.15%Q3 ’013.08%Q3 ’022.75%Q3 ’03-1%-14%

Executive Summary

  • Earnings: ROA of 0.89%, down 8 bps year over year; NIM at 3.49%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 91.26% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

0.89%-8 bps YoY

Net Interest Margin (YTD, annualized)

3.49%-41 bps YoY

Efficiency Ratio (YTD, annualized)

65.05%-129 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets0.97%0.95%0.70%0.88%0.89%-8 bps
Return on Equity12.66%12.26%8.67%11.25%11.57%-110 bps
Net Interest Margin3.90%3.91%3.96%3.66%3.49%-41 bps
Efficiency Ratio66.34%67.41%63.30%64.02%65.05%-129 bps
Non-Interest Burden2.34%2.37%2.24%2.02%2.01%-33 bps
Growth
Asset Growth (YoY)11.02%7.62%9.43%12.75%9.46%-156 bps
Loan Growth (YoY)11.84%15.78%15.00%10.20%14.87%+303 bps
Deposit Growth (YoY)7.96%8.28%12.23%17.20%13.35%+539 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.02%0.01%0.00%0.01%0.03%+5 bps
Allowance / Loans1.41%1.30%1.36%1.36%1.26%-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 Capital12.45%12.43%12.68%12.05%11.68%-77 bps
Equity / Assets7.90%8.08%8.07%7.42%7.24%-66 bps
Liquidity & Funding
Loans / Deposits90.05%90.72%87.61%82.70%91.26%+121 bps
Liquid Assets / Assets1.82%1.11%2.89%0.13%0.10%-172 bps
CRE / Total Capitaln/an/an/an/an/an/an/a