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Martha's Vineyard Co-operative Bank of Tisbury

Vineyard Haven, MA · Cert 26603

FDIC

Q3 2007

$166.8MAssets
$150.6MLoans
$128.8MDeposits
$12.8MEquity
Loan mix
99%RE $140.8M1%C&I $1.9M0%Consumer $0.0MQ3 2006Q3 2007
Deposit mix
85%Interest-bearing $110.1M15%Noninterest $18.7MQ3 2006Q3 2007

NIM

5.51%Q3 ’055.81%Q3 ’066.04%Q3 ’07-11%-1%

Non-interest income vs. expense

2.91%Q3 ’052.69%Q3 ’062.54%Q3 ’07-11%-4%

Executive Summary

  • Earnings: ROA of 0.79%, up 3 bps year over year; NIM at 3.47%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 116.98% of deposits as of Q3 2007.

Financial Results

Return on Assets (quarter, annualized)

0.79%+3 bps YoY

Net Interest Margin (quarter, annualized)

3.47%-4 bps YoY

Efficiency Ratio (quarter, annualized)

65.05%-215 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2006Q4 2006Q1 2007Q2 2007Q3 2007YoY ΔTrend
Earnings
Return on Assets0.76%0.67%0.62%0.31%0.79%+3 bps
Return on Equity10.23%8.75%8.05%4.06%10.26%+3 bps
Net Interest Margin3.51%3.40%3.36%3.31%3.47%-4 bps
Efficiency Ratio67.20%70.48%72.54%82.82%65.05%-215 bps
Non-Interest Burden2.19%2.27%2.32%2.67%2.11%-9 bps
Growth
Asset Growth (YoY)8.92%9.50%5.43%1.72%7.42%-150 bps
Loan Growth (YoY)11.02%9.44%5.67%3.83%6.59%-443 bps
Deposit Growth (YoY)4.96%1.32%0.15%1.86%1.28%-367 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%0.08%0.00%0 bps
Allowance / Loans0.42%0.42%0.43%0.42%0.42%+1 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 Capital12.49%12.56%12.65%12.42%12.61%+12 bps
Equity / Assets7.63%7.67%7.72%7.68%7.67%+5 bps
Liquidity & Funding
Loans / Deposits111.15%121.01%121.12%120.29%116.98%+583 bps
Liquid Assets / Assets1.82%1.70%1.59%1.47%1.33%-49 bps
CRE / Total Capitaln/an/an/an/an/an/an/a