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Letter portraitLegal landscapeQuarterYTD

Massachusetts Co-operative Bank

Quincy, MA · Cert 26569

FDIC

Q2 2002

$123.9MAssets
$77.8MLoans
$101.0MDeposits
$9.3MEquity
Loan mix
97%RE $60.4M0%C&I $0.0M3%Consumer $1.7MQ2 2001Q2 2002
Deposit mix
87%Interest-bearing $87.7M13%Noninterest $13.3MQ2 2001Q2 2002

NIM

7.34%Q1 ’017.20%Q2 ’016.16%Q2 ’02+3%+22%

Non-interest income vs. expense

2.87%Q1 ’012.99%Q2 ’013.61%Q2 ’02-4%+27%

Executive Summary

  • Earnings: ROA of 0.90%, up 11 bps year over year; NIM at 3.91%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.05%.
  • Funding: loans stand at 77.01% of deposits as of Q2 2002.

Financial Results

Return on Assets (YTD, annualized)

0.90%+11 bps YoY

Net Interest Margin (YTD, annualized)

3.91%+71 bps YoY

Efficiency Ratio (YTD, annualized)

74.16%+110 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets0.78%0.82%0.60%1.19%0.90%+11 bps
Return on Equityn/an/an/a16.88%12.41%n/a
Net Interest Margin3.20%3.22%3.24%3.90%3.91%+71 bps
Efficiency Ratio73.06%70.98%76.09%66.83%74.16%+110 bps
Non-Interest Burden2.10%2.04%2.24%2.29%2.66%+56 bps
Growth
Asset Growth (YoY)4.80%10.00%6.88%8.25%7.14%+235 bps
Loan Growth (YoY)-4.03%-0.25%-2.77%-13.47%-7.36%-333 bps
Deposit Growth (YoY)4.85%10.39%12.00%11.63%14.05%+920 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.05%-0.05%-0.07%-0.04%-0.05%0 bps
Allowance / Loans0.85%0.83%0.83%0.86%0.89%+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 Capital12.94%12.54%12.76%12.79%13.09%+16 bps
Equity / Assets7.44%7.12%7.07%7.08%7.51%+6 bps
Liquidity & Funding
Loans / Deposits94.80%88.42%82.32%74.05%77.01%-1,780 bps
Liquid Assets / Assets0.95%1.49%1.17%0.63%0.44%-51 bps
CRE / Total Capitaln/an/an/an/an/an/an/a