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Telecom Co-operative Bank

Malden, MA · Cert 26449

FDIC

Q4 2006

$46.5MAssets
$35.8MLoans
$35.4MDeposits
$4.1MEquity
Deposit mix
93%Interest-bearing $32.9M7%Noninterest $2.5MQ4 2005Q4 2006

NIM

4.40%Q4 ’044.83%Q4 ’055.12%Q4 ’06+10%-3%

Non-interest income vs. expense

2.32%Q4 ’042.62%Q4 ’052.85%Q4 ’06+17%+8%

Executive Summary

  • Earnings: ROA of 0.12%, up 4 bps year over year; NIM at 2.58%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 101.13% of deposits as of Q4 2006.

Financial Results

Return on Assets (quarter, annualized)

0.12%1+4 bps YoY

Net Interest Margin (quarter, annualized)

2.58%-8 bps YoY

Efficiency Ratio (quarter, annualized)

108.23%+1,102 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets0.08%0.26%-0.09%-0.02%0.12%1+4 bps
Return on Equity0.97%3.22%-1.08%-0.30%1.47%+50 bps
Net Interest Margin2.66%2.65%2.55%2.67%2.58%-8 bps
Efficiency Ratio97.20%90.68%102.84%99.69%108.23%+1,102 bps
Non-Interest Burden2.58%2.40%2.62%2.66%2.80%+21 bps
Growth
Asset Growth (YoY)11.35%10.08%2.88%7.72%-8.94%-2,029 bps
Loan Growth (YoY)8.50%19.44%16.21%3.99%2.05%-645 bps
Deposit Growth (YoY)16.61%12.88%3.91%12.04%-10.47%-2,708 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%0.00%0.00%0 bps
Allowance / Loans0.37%0.35%0.35%0.36%0.36%-1 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 Capital15.94%15.95%16.64%16.57%17.68%+174 bps
Equity / Assets8.03%8.07%8.42%8.17%8.80%+77 bps
Liquidity & Funding
Loans / Deposits88.72%95.69%100.95%92.22%101.13%+1,241 bps
Liquid Assets / Assets2.74%1.44%2.16%2.02%1.97%-78 bps
CRE / Total Capitaln/an/an/an/an/an/an/a