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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 ’016.23%Q2 ’02+7%+21%

Non-interest income vs. expense

2.87%Q1 ’013.16%Q2 ’014.05%Q2 ’02-6%+51%

Executive Summary

  • Earnings: ROA of 0.59%, down 33 bps year over year; NIM at 4.04%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.07%.
  • Funding: loans stand at 77.01% of deposits as of Q2 2002.

Financial Results

Return on Assets (quarter, annualized)

0.59%-33 bps YoY

Net Interest Margin (quarter, annualized)

4.04%+70 bps YoY

Efficiency Ratio (quarter, annualized)

81.10%+1,011 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets0.93%0.91%-0.04%1.19%0.59%-33 bps
Return on Equity12.66%12.48%-0.51%16.88%8.14%-452 bps
Net Interest Margin3.34%3.46%3.24%3.90%4.04%+70 bps
Efficiency Ratio70.98%67.14%90.24%66.83%81.10%+1,011 bps
Non-Interest Burden2.05%2.04%2.80%2.29%3.10%+105 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-0.06%-0.05%-0.13%-0.04%-0.07%-1 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