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Cooperative Bank for Savings, Inc., SSB

Wilmington, NC · Cert 27837

FDIC

Q1 2009

$966.8MAssets
$848.5MLoans
$768.5MDeposits
$36.0MEquity
Loan mix
98%RE $744.4M2%C&I $14.4M0%Consumer $0.9MQ1 2008Q1 2009
Deposit mix
95%Interest-bearing $732.2M5%Noninterest $36.3MQ1 2008Q1 2009

NIM

7.25%Q1 ’076.55%Q1 ’085.03%Q1 ’09-20%-25%

Non-interest income vs. expense

2.30%Q1 ’072.33%Q1 ’082.15%Q1 ’09+10%-22%

Executive Summary

  • Earnings: ROA of 0.49%, up 7 bps year over year; NIM at 2.08%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.11%.
  • Funding: loans stand at 110.41% of deposits as of Q1 2009.

Financial Results

Return on Assets (quarter, annualized)

0.49%+7 bps YoY

Net Interest Margin (quarter, annualized)

2.08%-70 bps YoY

Efficiency Ratio (quarter, annualized)

76.66%+558 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009YoY ΔTrend
Earnings
Return on Assets0.42%-0.05%-3.56%-14.81%0.49%+7 bps
Return on Equity4.93%-0.56%-46.59%-272%13.24%+830 bps
Net Interest Margin2.78%2.68%2.71%2.27%2.08%-70 bps
Efficiency Ratio71.08%73.21%78.93%87.85%76.66%+558 bps
Non-Interest Burden1.84%1.85%2.09%4.17%1.43%-41 bps
Growth
Asset Growth (YoY)10.86%9.17%6.56%2.61%0.84%-1,002 bps
Loan Growth (YoY)10.14%9.11%8.32%7.82%0.02%-1,012 bps
Deposit Growth (YoY)9.54%5.96%0.28%-2.67%5.37%-416 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%0.20%0.27%3.34%4.11%+401 bps
Allowance / Loans1.11%1.32%1.70%4.08%3.48%+237 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 Capital10.55%10.45%8.99%5.70%6.06%-450 bps
Equity / Assets8.36%8.11%7.18%3.67%3.73%-463 bps
Liquidity & Funding
Loans / Deposits116.32%118.48%124.44%127.56%110.41%-591 bps
Liquid Assets / Assets0.86%0.77%0.58%0.39%5.68%+482 bps
CRE / Total Capitaln/an/an/an/an/an/an/a