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Ipswich Co-operative Bank

Ipswich, MA · Cert 26452

FDIC

Q2 2007

$253.7MAssets
$202.0MLoans
$193.4MDeposits
$17.0MEquity
Deposit mix
97%Interest-bearing $187.1M3%Noninterest $6.3MQ2 2006Q2 2007

NIM

4.89%Q2 ’055.33%Q2 ’065.50%Q2 ’07-10%-23%

Non-interest income vs. expense

1.78%Q2 ’051.59%Q2 ’061.49%Q2 ’07-12%-5%

Executive Summary

  • Earnings: ROA of 0.44%, down 29 bps year over year; NIM at 1.99%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.05%.
  • Funding: loans stand at 104.44% of deposits as of Q2 2007.

Financial Results

Return on Assets (YTD, annualized)

0.44%-29 bps YoY

Net Interest Margin (YTD, annualized)

1.99%-58 bps YoY

Efficiency Ratio (YTD, annualized)

69.70%+1,206 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets0.73%0.72%0.67%0.50%0.44%-29 bps
Return on Equity10.58%10.41%9.69%7.37%6.54%-404 bps
Net Interest Margin2.58%2.41%2.27%2.08%1.99%-58 bps
Efficiency Ratio57.64%60.04%63.61%69.65%69.70%+1,206 bps
Non-Interest Burden1.41%1.38%1.39%1.41%1.35%-7 bps
Growth
Asset Growth (YoY)15.95%17.74%14.26%13.62%13.34%-261 bps
Loan Growth (YoY)23.20%18.19%12.96%15.25%20.75%-245 bps
Deposit Growth (YoY)8.50%6.77%5.81%8.15%16.37%+788 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.01%0.00%0.00%0.05%+4 bps
Allowance / Loans0.52%0.52%0.53%0.51%0.47%-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 Capital12.24%12.37%12.60%12.30%12.66%+41 bps
Equity / Assets6.93%6.76%6.91%6.80%6.70%-24 bps
Liquidity & Funding
Loans / Deposits100.65%100.33%100.19%101.78%104.44%+379 bps
Liquid Assets / Assets11.52%14.68%13.18%11.59%6.04%-547 bps
CRE / Total Capitaln/an/an/an/an/an/an/a