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Newton South Co-operative Bank

Newton, MA · Cert 26485

FDIC

Q2 2003

$121.8MAssets
$97.0MLoans
$100.9MDeposits
$20.7MEquity
Loan mix
91%RE $59.9M9%C&I $6.1M0%Consumer $0.1MQ2 2002Q2 2003
Deposit mix
89%Interest-bearing $90.0M11%Noninterest $10.9MQ2 2002Q2 2003

NIM

7.79%Q2 ’017.40%Q2 ’026.49%Q2 ’03+11%-2%

Non-interest income vs. expense

2.01%Q2 ’012.04%Q2 ’022.27%Q2 ’03+0%+8%

Executive Summary

  • Earnings: ROA of 1.84%, down 8 bps year over year; NIM at 5.25%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 96.18% of deposits as of Q2 2003.

Financial Results

Return on Assets (YTD, annualized)

1.84%-8 bps YoY

Net Interest Margin (YTD, annualized)

5.25%-10 bps YoY

Efficiency Ratio (YTD, annualized)

41.22%+433 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2002Q3 2002Q4 2002Q1 2003Q2 2003YoY ΔTrend
Earnings
Return on Assets1.92%1.90%1.92%1.93%1.84%-8 bps
Return on Equity12.06%11.86%11.92%11.63%10.99%-107 bps
Net Interest Margin5.35%5.35%5.28%5.27%5.25%-10 bps
Efficiency Ratio36.89%36.97%37.03%37.27%41.22%+433 bps
Non-Interest Burden1.86%1.86%1.82%1.82%2.02%+16 bps
Growth
Asset Growth (YoY)1.40%7.36%8.78%5.90%5.97%+457 bps
Loan Growth (YoY)1.49%1.74%1.48%-2.29%0.84%-65 bps
Deposit Growth (YoY)6.05%11.73%10.22%6.84%4.72%-133 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.09%0.07%0.02%0.01%-10 bps
Allowance / Loans0.52%0.60%0.70%0.75%0.77%+25 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 Capital23.96%24.23%24.15%24.21%24.88%+91 bps
Equity / Assets16.09%16.27%16.52%16.62%17.02%+93 bps
Liquidity & Funding
Loans / Deposits99.88%97.93%96.44%93.50%96.18%-370 bps
Liquid Assets / Assets2.91%3.80%3.81%4.09%5.61%+269 bps
CRE / Total Capitaln/an/an/an/an/an/an/a