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Falmouth Co-operative Bank

Falmouth, MA · Cert 26481

FDIC

Q2 2004

$154.7MAssets
$96.7MLoans
$135.7MDeposits
$16.2MEquity
Loan mix
93%RE $69.4M7%C&I $5.0M0%Consumer $0.1MQ2 2003Q2 2004
Deposit mix
82%Interest-bearing $111.1M18%Noninterest $24.7MQ2 2003Q2 2004

NIM

5.86%Q2 ’024.19%Q2 ’033.85%Q2 ’04-27%+3%

Non-interest income vs. expense

2.15%Q2 ’022.20%Q2 ’032.88%Q2 ’04-8%+69%

Executive Summary

  • Earnings: ROA of 0.05%, down 3 bps year over year; NIM at 2.76%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 71.22% of deposits as of Q2 2004.

Financial Results

Return on Assets (YTD, annualized)

0.05%1-3 bps YoY

Net Interest Margin (YTD, annualized)

2.76%+8 bps YoY

Efficiency Ratio (YTD, annualized)

93.97%+2,842 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets0.07%0.28%0.23%0.11%10.05%1-3 bps
Return on Equity0.74%2.77%2.32%1.10%0.47%-28 bps
Net Interest Margin2.68%2.53%2.61%2.69%2.76%+8 bps
Efficiency Ratio65.55%65.75%70.42%89.88%93.97%+2,842 bps
Non-Interest Burden1.52%1.41%1.64%2.38%2.57%+105 bps
Growth
Asset Growth (YoY)5.55%8.48%4.07%0.80%-5.62%-1,117 bps
Loan Growth (YoY)-21.07%-12.37%3.13%10.10%14.03%+3,510 bps
Deposit Growth (YoY)6.97%10.89%6.60%4.33%-4.76%-1,173 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 / Loans1.11%1.12%0.86%0.90%0.90%-21 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 Capital13.35%13.09%13.96%14.55%16.51%+316 bps
Equity / Assets9.86%9.96%10.59%10.05%10.49%+63 bps
Liquidity & Funding
Loans / Deposits59.48%57.31%63.69%65.31%71.22%+1,174 bps
Liquid Assets / Assets20.24%19.59%15.59%18.12%12.60%-763 bps
CRE / Total Capitaln/an/an/an/an/an/an/a