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Marlborough Co-operative Bank

Marlborough, MA · Cert 26510

FDIC

Q3 2008

$86.3MAssets
$59.4MLoans
$66.3MDeposits
$6.8MEquity
Loan mix
90%RE $42.8M10%C&I $4.9M0%Consumer $0.1MQ3 2007Q3 2008
Deposit mix
87%Interest-bearing $57.9M13%Noninterest $8.4MQ3 2007Q3 2008

NIM

4.97%Q3 ’065.59%Q3 ’075.18%Q3 ’08+6%-8%

Non-interest income vs. expense

2.53%Q3 ’063.11%Q3 ’072.80%Q3 ’08+41%-24%

Executive Summary

  • Earnings: ROA of -1.67%, down 110 bps year over year; NIM at 2.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.10%.
  • Funding: loans stand at 89.54% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

-1.67%-110 bps YoY

Net Interest Margin (YTD, annualized)

2.01%-17 bps YoY

Efficiency Ratio (YTD, annualized)

116.46%-3,153 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets-0.57%-0.46%-0.17%-0.14%-1.67%-110 bps
Return on Equity-5.25%-4.23%-1.72%-1.46%-18.15%-1,290 bps
Net Interest Margin2.18%2.19%1.94%1.95%2.01%-17 bps
Efficiency Ratio148.00%137.97%120.56%115.02%116.46%-3,153 bps
Non-Interest Burden3.19%3.05%2.43%2.29%2.41%-78 bps
Growth
Asset Growth (YoY)-7.00%-6.34%7.61%9.85%7.37%+1,437 bps
Loan Growth (YoY)-9.98%-6.62%9.28%18.49%18.17%+2,815 bps
Deposit Growth (YoY)-5.37%-6.15%-0.71%2.36%7.49%+1,286 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.05%0.06%0.02%0.15%0.10%+6 bps
Allowance / Loans0.47%0.45%0.43%0.37%0.47%0 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 Capital17.02%15.41%13.21%12.99%12.10%-492 bps
Equity / Assets10.82%10.76%9.21%9.00%7.90%-292 bps
Liquidity & Funding
Loans / Deposits81.45%80.75%77.69%89.70%89.54%+809 bps
Liquid Assets / Assets5.98%6.09%3.65%0.79%0.73%-525 bps
CRE / Total Capitaln/an/an/an/an/an/an/a