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Norcrown Bank

Livingston, NJ · Cert 26267

FDIC

Q1 2005

$618.8MAssets
$441.0MLoans
$549.7MDeposits
$48.2MEquity
Loan mix
90%RE $223.3M10%C&I $25.3M0%Consumer $0.5MQ1 2004Q1 2005
Deposit mix
79%Interest-bearing $435.3M21%Noninterest $114.5MQ1 2004Q1 2005

NIM

6.11%Q1 ’035.80%Q1 ’045.36%Q1 ’05+1%-9%

Non-interest income vs. expense

2.51%Q1 ’032.72%Q1 ’042.73%Q1 ’05+9%-8%

Executive Summary

  • Earnings: ROA of 0.87%, down 12 bps year over year; NIM at 3.85%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.04%.
  • Funding: loans stand at 80.23% of deposits as of Q1 2005.

Financial Results

Return on Assets (quarter, annualized)

0.87%-12 bps YoY

Net Interest Margin (quarter, annualized)

3.85%-39 bps YoY

Efficiency Ratio (quarter, annualized)

64.38%+281 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2004Q2 2004Q3 2004Q4 2004Q1 2005YoY ΔTrend
Earnings
Return on Assets0.99%0.94%0.97%0.53%0.87%-12 bps
Return on Equity14.09%13.03%13.12%7.04%11.41%-268 bps
Net Interest Margin4.23%4.45%4.36%4.06%3.85%-39 bps
Efficiency Ratio61.57%64.25%62.06%78.96%64.38%+281 bps
Non-Interest Burden2.54%2.80%2.62%3.18%2.33%-20 bps
Growth
Asset Growth (YoY)6.70%3.93%-2.20%3.59%1.93%-477 bps
Loan Growth (YoY)8.40%-2.31%-7.01%-11.66%-11.77%-2,017 bps
Deposit Growth (YoY)10.79%4.92%-3.90%0.91%1.61%-918 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.07%0.03%0.00%-0.04%-7 bps
Allowance / Loans1.17%1.22%1.30%1.34%1.37%+20 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 Capital11.35%11.80%12.56%12.67%13.22%+188 bps
Equity / Assets7.23%7.14%7.71%7.46%7.79%+56 bps
Liquidity & Funding
Loans / Deposits92.39%87.60%88.63%81.48%80.23%-1,216 bps
Liquid Assets / Assets0.55%0.52%0.58%5.72%5.07%+452 bps
CRE / Total Capitaln/an/an/an/an/an/an/a