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Mt Washington Co-operative Bank

South Boston, MA · Cert 26552

FDIC

Q4 2009

$496.2MAssets
$359.4MLoans
$385.7MDeposits
$31.6MEquity
Deposit mix
92%Interest-bearing $353.2M8%Noninterest $32.5MQ4 2008Q4 2009

NIM

5.99%Q4 ’075.66%Q4 ’085.15%Q4 ’09+11%+1%

Non-interest income vs. expense

2.85%Q4 ’073.46%Q4 ’083.97%Q4 ’09+28%+18%

Executive Summary

  • Earnings: ROA of -0.48%, up 28 bps year over year; NIM at 3.15%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.32%.
  • Funding: loans stand at 93.18% of deposits as of Q4 2009.

Financial Results

Return on Assets (YTD, annualized)

-0.48%+28 bps YoY

Net Interest Margin (YTD, annualized)

3.15%+4 bps YoY

Efficiency Ratio (YTD, annualized)

104.39%+1,247 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-0.76%0.11%1-0.28%-0.29%-0.48%+28 bps
Return on Equity-11.81%1.90%-4.66%-4.72%-7.74%+407 bps
Net Interest Margin3.11%2.97%3.04%3.10%3.15%+4 bps
Efficiency Ratio91.92%90.73%100.97%98.58%104.39%+1,247 bps
Non-Interest Burden2.81%2.65%3.07%3.04%3.32%+51 bps
Growth
Asset Growth (YoY)4.74%-0.91%-10.67%-10.53%-8.06%-1,280 bps
Loan Growth (YoY)13.58%8.68%-6.08%-8.41%-6.97%-2,056 bps
Deposit Growth (YoY)6.09%6.45%0.30%-1.21%3.77%-232 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.89%0.32%0.31%0.35%0.32%-57 bps
Allowance / Loans0.86%0.93%1.09%1.18%1.23%+37 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 Capital9.85%6.04%6.26%6.28%6.16%-370 bps
Equity / Assets5.81%6.12%6.40%6.54%6.37%+56 bps
Liquidity & Funding
Loans / Deposits103.94%101.87%97.70%93.86%93.18%-1,077 bps
Liquid Assets / Assets5.68%6.43%6.14%6.81%6.81%+113 bps
CRE / Total Capitaln/an/an/an/an/an/an/a