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Letter portraitLegal landscapeQuarterYTD

Bank of Western Massachusetts, The

Springfield, MA · Cert 26942

FDIC

Q4 2008

$912.3MAssets
$766.3MLoans
$528.9MDeposits
n/aEquity
Loan mix
75%RE $431.3M25%C&I $144.3M0%Consumer $0.8MQ4 2007Q4 2008
Deposit mix
86%Interest-bearing $546.8M14%Noninterest $90.4MQ4 2007Q4 2008

NIM

6.78%Q4 ’066.52%Q4 ’07-7%

Non-interest income vs. expense

2.66%Q4 ’062.72%Q4 ’07+2%

Executive Summary

  • Earnings: ROA of 0.98%, down 11 bps year over year.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY).
  • Funding: loans stand at 144.90% of deposits as of Q4 2008.

Financial Results

Return on Assets (quarter, annualized)

0.98%-11 bps YoY

Net Interest Margin (quarter, annualized)

n/a

Efficiency Ratio (quarter, annualized)

n/a

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets1.09%0.73%0.91%0.89%0.98%-11 bps
Return on Equity11.84%n/an/an/an/an/a
Net Interest Margin3.91%n/an/an/an/an/a
Efficiency Ratio60.42%n/an/an/an/an/a
Non-Interest Burden2.13%n/an/an/an/an/a
Growth
Asset Growth (YoY)4.63%14.93%15.78%14.00%13.95%+932 bps
Loan Growth (YoY)4.37%-0.46%2.72%3.48%6.13%+176 bps
Deposit Growth (YoY)-0.36%-4.24%-11.90%-10.56%-17.00%-1,664 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.18%n/an/an/an/an/a
Allowance / Loans1.30%n/an/an/an/an/a
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 Capital11.02%n/an/an/an/an/a
Equity / Assets9.04%n/an/an/an/an/a
Liquidity & Funding
Loans / Deposits113.32%114.89%129.66%133.15%144.90%+3,158 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a