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First Signature Bank and Trust Company

Portsmouth, NH · Cert 26479

FDIC

Q4 2005

$424.9MAssets
$10.3MLoans
$376.2MDeposits
$35.4MEquity
Deposit mix
100%Interest-bearing $376.1M0%Noninterest $0.1MQ4 2004Q4 2005

NIM

1.47%Q4 ’032.24%Q4 ’044.72%Q4 ’05-4%+57%

Non-interest income vs. expense

1.39%Q4 ’030.79%Q4 ’041.09%Q4 ’05-38%+64%

Executive Summary

  • Earnings: ROA of 0.32%, up 8 bps year over year; NIM at 1.58%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.55%.
  • Funding: loans stand at 2.75% of deposits as of Q4 2005.

Financial Results

Return on Assets (YTD, annualized)

0.32%+8 bps YoY

Net Interest Margin (YTD, annualized)

1.58%+57 bps YoY

Efficiency Ratio (YTD, annualized)

67.55%-78 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets0.25%0.46%0.40%0.42%0.32%+8 bps
Return on Equity3.57%7.18%6.07%6.23%4.60%+102 bps
Net Interest Margin1.01%1.37%1.45%1.47%1.58%+57 bps
Efficiency Ratio68.32%50.75%53.99%54.73%67.55%-78 bps
Non-Interest Burden0.64%0.58%0.73%0.75%1.05%+41 bps
Growth
Asset Growth (YoY)60.18%20.43%8.05%-2.19%-25.23%-8,541 bps
Loan Growth (YoY)-12.34%-12.82%-5.43%-8.23%-16.11%-377 bps
Deposit Growth (YoY)76.08%22.25%13.35%-2.80%-19.52%-9,560 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.72%0.17%0.31%0.42%0.55%-17 bps
Allowance / Loans0.82%0.79%0.77%0.78%0.32%-50 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 Capital11.81%15.32%15.55%16.14%18.76%+695 bps
Equity / Assets6.06%6.71%7.09%7.33%8.33%+228 bps
Liquidity & Funding
Loans / Deposits2.64%2.70%2.80%2.77%2.75%+11 bps
Liquid Assets / Assets0.93%0.00%0.00%0.79%1.68%+75 bps
CRE / Total Capitaln/an/an/an/an/an/an/a