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Sharon Co-operative Bank

Sharon, MA · Cert 26446

FDIC

Q1 2007

$67.5MAssets
$39.9MLoans
$60.2MDeposits
$7.2MEquity
Deposit mix
96%Interest-bearing $57.5M4%Noninterest $2.7MQ1 2006Q1 2007

NIM

4.56%Q1 ’055.23%Q1 ’065.34%Q1 ’07-5%-14%

Non-interest income vs. expense

2.70%Q1 ’052.62%Q1 ’062.89%Q1 ’07-3%+9%

Executive Summary

  • Earnings: ROA of -0.09%, down 41 bps year over year; NIM at 2.57%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 66.35% of deposits as of Q1 2007.

Financial Results

Return on Assets (quarter, annualized)

-0.09%-41 bps YoY

Net Interest Margin (quarter, annualized)

2.57%-42 bps YoY

Efficiency Ratio (quarter, annualized)

103.69%+2,045 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2006Q2 2006Q3 2006Q4 2006Q1 2007YoY ΔTrend
Earnings
Return on Assets0.31%0.29%0.20%0.12%-0.09%-41 bps
Return on Equity3.25%2.93%1.93%1.11%-0.89%-414 bps
Net Interest Margin2.99%2.69%2.85%2.66%2.57%-42 bps
Efficiency Ratio83.24%83.73%89.38%94.73%103.69%+2,045 bps
Non-Interest Burden2.46%2.21%2.54%2.49%2.67%+21 bps
Growth
Asset Growth (YoY)8.04%1.65%-2.77%-5.13%-6.62%-1,466 bps
Loan Growth (YoY)1.92%-3.41%-2.24%-7.16%-7.22%-914 bps
Deposit Growth (YoY)8.63%1.44%-3.96%-6.36%-7.75%-1,638 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.01%0.00%0 bps
Allowance / Loans0.49%0.52%0.51%0.44%0.44%-5 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 Capital19.21%19.47%19.66%18.93%20.57%+137 bps
Equity / Assets9.61%10.21%10.46%10.67%10.69%+108 bps
Liquidity & Funding
Loans / Deposits65.97%67.44%67.88%66.97%66.35%+38 bps
Liquid Assets / Assets0.14%0.13%0.05%0.00%0.37%+23 bps
CRE / Total Capitaln/an/an/an/an/an/an/a