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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 $0.4MQ4 2001Q3 2003
Deposit mix
87%Interest-bearing $200.2M13%Noninterest $29.7MQ4 2001Q3 2003

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.

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
n/a

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%

Year to date, annualized, through each quarter.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.02%1.07%0.94%0.97%0.95%0.70%0.88%0.89%-8 bps
Return on Equityn/a14.10%12.37%12.66%12.26%8.67%11.25%11.57%-110 bps
Net Interest Margin4.08%3.94%4.04%3.90%3.91%3.96%3.66%3.49%-41 bps
Efficiency Ratio65.29%63.76%66.42%66.34%67.41%63.30%64.02%65.05%-129 bps
Non-Interest Burden2.37%2.17%2.44%2.34%2.37%2.24%2.02%2.01%-33 bps
Growth
Asset Growth (YoY)11.16%10.52%10.06%11.02%7.62%9.43%12.75%9.46%-156 bps
Loan Growth (YoY)4.26%1.33%8.09%11.84%15.78%15.00%10.20%14.87%+303 bps
Deposit Growth (YoY)11.03%7.02%6.42%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%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.06%0.09%0.05%-0.02%0.01%0.00%0.01%0.03%+5 bps
Allowance / Loans1.35%1.41%1.38%1.41%1.30%1.36%1.36%1.26%-15 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital12.26%12.67%12.44%12.45%12.43%12.68%12.05%11.68%-77 bps
Equity / Assets7.49%7.65%7.70%7.90%8.08%8.07%7.42%7.24%-66 bps
Liquidity & Funding
Loans / Deposits84.84%85.50%87.96%90.05%90.72%87.61%82.70%91.26%+121 bps
Liquid Assets / Assets0.21%0.19%0.22%1.82%1.11%2.89%0.13%0.10%-172 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a