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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

4.02%Q3 ’054.93%Q3 ’065.10%Q3 ’07+33%+0%

Non-interest income vs. expense

2.47%Q3 ’053.26%Q3 ’065.31%Q3 ’07+34%+63%

Executive Summary

  • Earnings: ROA of -0.95%, down 149 bps year over year; NIM at 3.95%.
  • 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 (quarter, annualized)

-0.95%-149 bps YoY

Net Interest Margin (quarter, annualized)

3.95%0 bps YoY

Efficiency Ratio (quarter, annualized)

123.24%+4,495 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets0.54%0.25%0.55%0.26%-0.95%-149 bps
Return on Equity5.25%2.46%5.42%2.41%-8.38%-1,362 bps
Net Interest Margin3.95%3.78%3.97%3.90%3.95%0 bps
Efficiency Ratio78.29%93.57%86.39%91.95%123.24%+4,495 bps
Non-Interest Burden3.04%3.53%3.40%3.55%4.95%+191 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