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Bridgewater Co-operative Bank

Bridgewater, MA · Cert 26550

FDIC

Q3 2007

$12.6MAssets
$6.4MLoans
$11.2MDeposits
$1.5MEquity
Deposit mix
83%Interest-bearing $9.3M17%Noninterest $1.9MQ3 2006Q3 2007

NIM

3.86%Q3 ’055.15%Q3 ’065.20%Q3 ’07+44%-1%

Non-interest income vs. expense

2.40%Q3 ’053.39%Q3 ’064.44%Q3 ’07+46%+27%

Executive Summary

  • Earnings: ROA of -0.02%, down 62 bps year over year; NIM at 4.06%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 57.08% of deposits as of Q3 2007.

Financial Results

Return on Assets (YTD, annualized)

-0.02%-62 bps YoY

Net Interest Margin (YTD, annualized)

4.06%-4 bps YoY

Efficiency Ratio (YTD, annualized)

100.23%+2,129 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets0.60%0.51%0.55%0.41%-0.02%-62 bps
Return on Equity6.35%5.37%5.42%3.91%-0.18%-654 bps
Net Interest Margin4.10%4.11%3.97%4.04%4.06%-4 bps
Efficiency Ratio78.94%82.30%86.39%89.19%100.23%+2,129 bps
Non-Interest Burden3.20%3.35%3.40%3.56%4.07%+87 bps
Growth
Asset Growth (YoY)-20.65%-8.46%-8.02%-5.80%-10.04%+1,061 bps
Loan Growth (YoY)-14.61%-22.96%-24.43%-9.66%-8.77%+584 bps
Deposit Growth (YoY)-23.00%-9.75%-6.81%-6.76%-10.97%+1,203 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 / Loans1.63%1.75%1.80%1.80%1.79%+16 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 Capital21.04%20.21%21.91%21.27%28.57%+752 bps
Equity / Assets10.39%9.85%10.34%11.19%11.61%+122 bps
Liquidity & Funding
Loans / Deposits55.71%48.67%49.33%53.36%57.08%+138 bps
Liquid Assets / Assets16.95%12.04%13.78%14.90%12.62%-434 bps
CRE / Total Capitaln/an/an/an/an/an/an/a