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First Savings Bank of Norwood

Norwood, OH · Cert 27736

FDIC

Q4 2003

$25.0MAssets
$19.9MLoans
$23.8MDeposits
$983KEquity
Deposit mix
92%Interest-bearing $22.0M8%Noninterest $1.8MQ4 2002Q4 2003

NIM

6.73%Q4 ’016.13%Q4 ’024.98%Q4 ’03+15%-14%

Non-interest income vs. expense

3.44%Q4 ’014.51%Q4 ’027.26%Q4 ’03+26%+87%

Executive Summary

  • Earnings: ROA of -2.98%, down 258 bps year over year; NIM at 3.11%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.18%.
  • Funding: loans stand at 83.39% of deposits as of Q4 2003.

Financial Results

Return on Assets (YTD, annualized)

-2.98%-258 bps YoY

Net Interest Margin (YTD, annualized)

3.11%-49 bps YoY

Efficiency Ratio (YTD, annualized)

203%+10,336 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets-0.40%-1.83%-3.30%-2.94%-2.98%-258 bps
Return on Equity-6.29%-29.53%-57.45%-53.13%-57.07%-5,078 bps
Net Interest Margin3.60%2.64%2.90%3.17%3.11%-49 bps
Efficiency Ratio99.92%193.69%222%202%203%+10,336 bps
Non-Interest Burden3.65%5.62%6.98%6.91%6.83%+318 bps
Growth
Asset Growth (YoY)-4.39%-7.93%-4.58%-15.44%-11.99%-760 bps
Loan Growth (YoY)-7.11%-14.53%-8.28%-11.85%-6.73%+38 bps
Deposit Growth (YoY)-4.65%-7.63%-3.50%-14.01%-9.86%-521 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.21%0.00%0.34%0.23%0.18%-3 bps
Allowance / Loans0.99%1.00%0.76%0.81%0.97%-2 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 Capital13.12%12.33%9.94%9.82%8.31%-481 bps
Equity / Assets6.24%6.14%4.86%4.77%3.94%-230 bps
Liquidity & Funding
Loans / Deposits80.59%83.63%83.91%88.94%83.39%+280 bps
Liquid Assets / Assets11.57%8.29%5.67%5.06%4.90%-668 bps
CRE / Total Capitaln/an/an/an/an/an/an/a