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Mayflower Co-operative Bank

Middleboro, MA · Cert 26553

FDIC

Q3 2013

$244.1MAssets
$130.7MLoans
$220.1MDeposits
$22.0MEquity
Loan mix
96%RE $116.0M3%C&I $3.6M1%Consumer $1.2MQ3 2012Q3 2013
Deposit mix
90%Interest-bearing $197.3M10%Noninterest $22.7MQ3 2012Q3 2013

NIM

4.02%Q3 ’113.73%Q3 ’123.22%Q3 ’13-3%-12%

Non-interest income vs. expense

3.27%Q3 ’113.27%Q3 ’123.44%Q3 ’13-10%+23%

Executive Summary

  • Earnings: ROA of -0.03%, down 63 bps year over year; NIM at 2.90%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 59.37% of deposits as of Q3 2013.

Financial Results

Return on Assets (quarter, annualized)

-0.03%-63 bps YoY

Net Interest Margin (quarter, annualized)

2.90%-40 bps YoY

Efficiency Ratio (quarter, annualized)

101.02%+2,399 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2012Q4 2012Q1 2013Q2 2013Q3 2013YoY ΔTrend
Earnings
Return on Assets0.60%0.64%0.46%0.15%-0.03%-63 bps
Return on Equity6.75%7.26%5.28%1.69%-0.38%-713 bps
Net Interest Margin3.30%3.23%3.02%3.05%2.90%-40 bps
Efficiency Ratio77.03%76.97%82.33%90.83%101.02%+2,399 bps
Non-Interest Burden2.44%2.40%2.44%2.78%3.00%+56 bps
Growth
Asset Growth (YoY)1.52%2.92%3.90%-1.22%-2.91%-443 bps
Loan Growth (YoY)10.29%14.89%3.67%0.36%-3.09%-1,339 bps
Deposit Growth (YoY)1.95%3.40%4.03%-1.32%-3.08%-502 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.16%-0.01%-0.01%-0.01%0.00%-17 bps
Allowance / Loans0.89%0.84%0.86%0.89%0.93%+4 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 Capital17.75%17.58%17.69%18.43%19.00%+125 bps
Equity / Assets8.91%8.84%8.64%8.81%9.01%+10 bps
Liquidity & Funding
Loans / Deposits59.38%62.19%59.38%60.27%59.37%-1 bps
Liquid Assets / Assets22.07%20.04%20.89%20.06%20.91%-116 bps
CRE / Total Capitaln/an/an/an/an/an/an/a