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Letter portraitLegal landscapeQuarterYTD

Lenox Savings Bank, The

Cincinnati, OH · Cert 27802

FDIC

Q3 2003

$55.2MAssets
$36.7MLoans
$27.3MDeposits
$5.0MEquity
Deposit mix
94%Interest-bearing $25.7M6%Noninterest $1.6MQ4 2001Q3 2003

Executive Summary

  • Earnings: ROA of -0.91%, down 92 bps year over year; NIM at 1.98%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.71%.
  • Funding: loans stand at 134.36% of deposits as of Q3 2003.

Return on Assets (YTD, annualized)

-0.91%-92 bps YoY

Net Interest Margin (YTD, annualized)

1.98%-83 bps YoY

Efficiency Ratio (YTD, annualized)

127.05%+3,363 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

7.60%Q3 ’016.68%Q3 ’025.45%Q3 ’03+8%-30%

Non-interest income vs. expense

2.89%Q3 ’013.25%Q3 ’023.24%Q3 ’03+36%+3%

Year to date, annualized, through each quarter.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets0.12%0.48%0.24%0.01%0.04%10.01%1-0.85%-0.91%-92 bps
Return on Equityn/a5.33%2.59%0.14%0.41%0.14%-8.85%-9.57%-971 bps
Net Interest Margin2.62%2.99%2.92%2.81%2.65%2.44%2.13%1.98%-83 bps
Efficiency Ratio83.66%78.53%83.79%93.42%94.47%96.86%112.75%127.05%+3,363 bps
Non-Interest Burden2.02%2.19%2.34%2.58%2.46%2.34%2.49%2.67%+9 bps
Growth
Asset Growth (YoY)-12.50%-12.85%-8.85%-8.67%-4.04%-7.54%-8.12%-7.03%+164 bps
Loan Growth (YoY)-11.24%-15.73%-23.69%-23.38%-21.01%-19.29%-12.82%-10.76%+1,262 bps
Deposit Growth (YoY)-8.43%-12.51%-9.20%-8.98%-6.36%-12.35%-13.60%-10.81%-184 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.16%0.03%0.01%0.43%0.33%0.69%0.90%0.71%+28 bps
Allowance / Loans0.57%0.65%0.84%0.62%0.62%0.55%0.97%0.99%+38 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital17.04%17.32%20.08%20.53%19.84%19.96%20.16%19.46%-107 bps
Equity / Assets8.91%9.20%9.27%9.43%9.31%9.90%9.63%9.09%-33 bps
Liquidity & Funding
Loans / Deposits152.40%148.11%133.88%134.29%128.57%136.38%135.08%134.36%+7 bps
Liquid Assets / Assets5.08%5.86%9.39%6.44%6.45%4.72%3.14%2.35%-409 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a