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Bergen Commercial Bank

Paramus, NJ · Cert 27180

FDIC

Q4 2005

$292.2MAssets
$227.2MLoans
$234.0MDeposits
$26.7MEquity
Loan mix
81%RE $55.5M19%C&I $13.0M0%Consumer $0.0MQ4 2004Q4 2005
Deposit mix
71%Interest-bearing $167.2M29%Noninterest $66.8MQ4 2004Q4 2005

NIM

5.08%Q4 ’035.20%Q4 ’046.00%Q4 ’05-1%+8%

Non-interest income vs. expense

2.59%Q4 ’031.91%Q4 ’042.18%Q4 ’05-27%+32%

Executive Summary

  • Earnings: ROA of 1.52%, down 39 bps year over year; NIM at 4.18%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.05%.
  • Funding: loans stand at 97.10% of deposits as of Q4 2005.

Financial Results

Return on Assets (quarter, annualized)

1.52%-39 bps YoY

Net Interest Margin (quarter, annualized)

4.18%+30 bps YoY

Efficiency Ratio (quarter, annualized)

46.19%+419 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets1.91%1.34%1.29%1.42%1.52%-39 bps
Return on Equity21.78%15.39%15.30%17.45%17.78%-400 bps
Net Interest Margin3.88%4.00%3.96%4.27%4.18%+30 bps
Efficiency Ratio41.99%54.37%54.23%49.48%46.19%+419 bps
Non-Interest Burden1.25%1.88%1.88%1.84%1.64%+39 bps
Growth
Asset Growth (YoY)16.43%15.27%18.22%24.48%10.69%-574 bps
Loan Growth (YoY)23.04%20.63%18.50%11.59%6.77%-1,627 bps
Deposit Growth (YoY)15.56%10.94%19.02%26.78%16.82%+126 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%-0.03%0.00%0.00%0.05%+5 bps
Allowance / Loans1.27%1.28%1.27%1.27%1.34%+7 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 Capital10.84%11.15%11.27%11.15%11.78%+94 bps
Equity / Assets8.96%8.48%8.35%7.99%9.15%+19 bps
Liquidity & Funding
Loans / Deposits106.24%96.54%89.35%86.39%97.10%-914 bps
Liquid Assets / Assets5.00%6.84%8.14%8.07%9.83%+482 bps
CRE / Total Capitaln/an/an/an/an/an/an/a