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Wainwright Bank and Trust Company

Boston, MA · Cert 27009

FDIC

Q4 2010

$1.1BAssets
$854.4MLoans
$799.8MDeposits
$160.3MEquity
Loan mix
76%RE $594.9M24%C&I $186.0M0%Consumer $0.3MQ4 2009Q4 2010
Deposit mix
94%Interest-bearing $750.4M6%Noninterest $49.4MQ4 2009Q4 2010

NIM

5.33%Q4 ’084.86%Q4 ’09-13.14%Q4 ’10+5%-378%

Non-interest income vs. expense

2.63%Q4 ’082.89%Q4 ’09-7.73%Q4 ’10-3%-362%

Executive Summary

  • Earnings: ROA of -4.96%, down 566 bps year over year; NIM at -9.05%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 106.83% of deposits as of Q4 2010.

Financial Results

Return on Assets (quarter, annualized)

-4.96%-566 bps YoY

Net Interest Margin (quarter, annualized)

-9.05%-1,231 bps YoY

Efficiency Ratio (quarter, annualized)

71.74%-586 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets0.70%0.82%0.84%0.82%-4.96%-566 bps
Return on Equity8.54%11.50%11.72%11.14%-44.45%-5,299 bps
Net Interest Margin3.25%3.46%3.35%3.65%-9.05%-1,231 bps
Efficiency Ratio77.61%71.96%73.79%74.85%71.74%-586 bps
Non-Interest Burden2.44%2.36%2.30%2.68%-6.39%-883 bps
Growth
Asset Growth (YoY)-3.87%-0.24%3.94%1.52%9.06%+1,294 bps
Loan Growth (YoY)-2.40%-1.87%1.88%5.05%3.96%+636 bps
Deposit Growth (YoY)0.12%3.72%13.54%12.93%11.34%+1,122 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.08%0.15%-0.06%0.00%-0.01%-9 bps
Allowance / Loans1.25%1.26%1.23%1.18%1.50%+25 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 Capital11.82%12.07%11.76%12.07%11.09%-73 bps
Equity / Assets7.14%7.09%7.20%7.56%14.49%+734 bps
Liquidity & Funding
Loans / Deposits114.41%106.25%106.10%115.96%106.83%-759 bps
Liquid Assets / Assets2.86%4.73%3.28%0.91%2.90%+3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a