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Economy Co-operative Bank

Merrimac, MA · Cert 26583

FDIC

Q4 2011

$25.1MAssets
$17.7MLoans
$22.6MDeposits
$2.5MEquity
Loan mix
97%RE $16.8M0%C&I $0.0M2%Consumer $0.4MQ4 2010Q4 2011
Deposit mix
94%Interest-bearing $21.2M6%Noninterest $1.4MQ4 2010Q4 2011

NIM

4.59%Q4 ’094.13%Q4 ’103.95%Q4 ’11-5%+1%

Non-interest income vs. expense

3.07%Q4 ’093.19%Q4 ’104.01%Q4 ’11+3%+28%

Executive Summary

  • Earnings: ROA of -1.07%, down 122 bps year over year; NIM at 3.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 78.21% of deposits as of Q4 2011.

Financial Results

Return on Assets (quarter, annualized)

-1.07%-122 bps YoY

Net Interest Margin (quarter, annualized)

3.39%+4 bps YoY

Efficiency Ratio (quarter, annualized)

112.95%+2,295 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2010Q1 2011Q2 2011Q3 2011Q4 2011YoY ΔTrend
Earnings
Return on Assets0.15%0.17%0.10%0.05%-1.07%-122 bps
Return on Equity1.45%1.61%0.96%0.48%-10.97%-1,243 bps
Net Interest Margin3.35%3.51%3.18%3.12%3.39%+4 bps
Efficiency Ratio90.00%91.44%93.90%97.12%112.95%+2,295 bps
Non-Interest Burden3.00%3.20%2.97%3.03%3.85%+85 bps
Growth
Asset Growth (YoY)-1.29%1.58%-4.39%4.82%6.88%+817 bps
Loan Growth (YoY)-2.28%-2.82%-4.02%-4.88%-5.82%-354 bps
Deposit Growth (YoY)-1.53%1.67%-4.97%5.28%7.77%+929 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 / Loans0.46%0.48%0.51%0.54%0.55%+9 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 Capital21.03%20.74%21.27%21.18%23.07%+204 bps
Equity / Assets10.56%10.00%10.33%9.75%9.82%-74 bps
Liquidity & Funding
Loans / Deposits89.49%83.52%84.57%78.03%78.21%-1,128 bps
Liquid Assets / Assets7.70%13.62%12.68%16.86%24.47%+1,678 bps
CRE / Total Capitaln/an/an/an/an/an/an/a