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Letter portraitLegal landscapeQuarterYTD

Park Avenue Bank, National Association, The

New York, NY · Cert 27096

FDIC

Q4 2009

$520.1MAssets
$379.5MLoans
$494.5MDeposits
$-2888KEquity
Deposit mix
91%Interest-bearing $449.7M9%Noninterest $44.8MQ4 2008Q4 2009

NIM

7.04%Q4 ’076.53%Q4 ’085.24%Q4 ’09+7%-9%

Non-interest income vs. expense

4.26%Q4 ’073.81%Q4 ’084.87%Q4 ’09-19%+32%

Executive Summary

  • Earnings: ROA of -10.19%, down 605 bps year over year; NIM at 2.77%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.12%.
  • Funding: loans stand at 76.74% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

-10.19%-605 bps YoY

Net Interest Margin (quarter, annualized)

2.77%-27 bps YoY

Efficiency Ratio (quarter, annualized)

137.74%+3,580 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-4.14%0.01%1-1.88%-2.82%-10.19%-605 bps
Return on Equity-211%0.84%-106.75%-142.51%-1183%-97,133 bps
Net Interest Margin3.05%2.76%2.66%3.21%2.77%-27 bps
Efficiency Ratio101.94%91.47%89.80%99.37%137.74%+3,580 bps
Non-Interest Burden3.12%2.45%2.33%3.19%4.11%+99 bps
Growth
Asset Growth (YoY)25.45%19.81%16.47%17.37%5.23%-2,023 bps
Loan Growth (YoY)44.29%45.88%25.43%17.70%5.14%-3,916 bps
Deposit Growth (YoY)54.50%43.19%34.15%29.02%17.30%-3,720 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.96%0.97%2.25%2.49%2.12%+116 bps
Allowance / Loans1.61%1.33%1.52%1.86%4.60%+299 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 Capital6.16%5.32%5.19%4.60%0.77%-539 bps
Equity / Assets1.80%1.78%1.74%2.21%-0.56%-236 bps
Liquidity & Funding
Loans / Deposits85.62%88.46%83.97%81.48%76.74%-888 bps
Liquid Assets / Assets1.16%0.90%1.51%1.52%0.54%-62 bps
CRE / Total Capitaln/an/an/an/an/an/an/a