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Abington Savings Bank

Jenkintown, PA · Cert 27942

FDIC

Q3 2011

$1.2BAssets
$633.7MLoans
$855.6MDeposits
$185.6MEquity
Loan mix
97%RE $545.7M3%C&I $16.5M0%Consumer $0.3MQ3 2010Q3 2011
Deposit mix
93%Interest-bearing $793.8M7%Noninterest $61.8MQ3 2010Q3 2011

NIM

4.31%Q3 ’094.10%Q3 ’104.03%Q3 ’11+10%+9%

Non-interest income vs. expense

1.98%Q3 ’091.91%Q3 ’107.24%Q3 ’11-46%+391%

Executive Summary

  • Earnings: ROA of -3.54%, down 423 bps year over year; NIM at 2.82%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 74.06% of deposits as of Q3 2011.

Financial Results

Return on Assets (quarter, annualized)

-3.54%-423 bps YoY

Net Interest Margin (quarter, annualized)

2.82%+22 bps YoY

Efficiency Ratio (quarter, annualized)

386%+31,873 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2010Q4 2010Q1 2011Q2 2011Q3 2011YoY ΔTrend
Earnings
Return on Assets0.69%0.62%0.65%0.77%-3.54%-423 bps
Return on Equity5.00%4.45%4.47%5.00%-22.43%-2,743 bps
Net Interest Margin2.60%2.59%2.57%2.63%2.82%+22 bps
Efficiency Ratio67.24%66.42%71.82%64.88%386%+31,873 bps
Non-Interest Burden1.67%1.62%1.76%1.59%8.19%+652 bps
Growth
Asset Growth (YoY)2.49%0.73%-7.42%-7.23%-8.05%-1,054 bps
Loan Growth (YoY)-8.56%-9.43%-10.15%-11.55%-11.93%-337 bps
Deposit Growth (YoY)8.11%4.35%-4.31%-5.27%-7.54%-1,565 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.37%0.47%-0.02%-0.03%-0.01%-139 bps
Allowance / Loans0.65%0.61%0.63%0.66%0.70%+5 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 Capital22.98%23.89%24.76%25.47%25.06%+209 bps
Equity / Assets13.97%14.10%15.17%15.51%16.04%+208 bps
Liquidity & Funding
Loans / Deposits77.75%75.81%78.44%75.96%74.06%-369 bps
Liquid Assets / Assets9.35%10.64%7.80%9.72%11.25%+190 bps
CRE / Total Capitaln/an/an/an/an/an/an/a