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Laurel Savings Bank

Allison Park, PA · Cert 27956

FDIC

Q2 2006

$320.5MAssets
$218.8MLoans
$269.7MDeposits
$26.4MEquity
Loan mix
100%RE $210.9M0%C&I $0.3M0%Consumer $0.0MQ2 2005Q2 2006
Deposit mix
93%Interest-bearing $249.5M7%Noninterest $20.2MQ2 2005Q2 2006

NIM

4.13%Q2 ’044.53%Q2 ’054.84%Q2 ’06+7%-5%

Non-interest income vs. expense

1.93%Q2 ’041.99%Q2 ’052.33%Q2 ’06+7%+28%

Executive Summary

  • Earnings: ROA of 0.27%, down 47 bps year over year; NIM at 2.28%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 81.13% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

0.27%-47 bps YoY

Net Interest Margin (quarter, annualized)

2.28%-12 bps YoY

Efficiency Ratio (quarter, annualized)

84.56%+1,851 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets0.74%0.77%0.64%0.63%0.27%-47 bps
Return on Equity8.44%8.72%7.38%7.26%3.25%-519 bps
Net Interest Margin2.40%2.40%2.39%2.34%2.28%-12 bps
Efficiency Ratio66.05%63.45%63.89%64.35%84.56%+1,851 bps
Non-Interest Burden1.53%1.46%1.48%1.46%1.95%+42 bps
Growth
Asset Growth (YoY)3.49%0.79%0.32%2.13%3.60%+11 bps
Loan Growth (YoY)20.53%14.04%7.60%5.66%2.87%-1,766 bps
Deposit Growth (YoY)3.59%1.53%0.30%2.33%4.55%+96 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%-0.02%0.00%0.00%0.00%-2 bps
Allowance / Loans0.94%0.93%0.92%0.92%0.91%-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 Capital16.48%16.17%16.21%16.01%15.64%-84 bps
Equity / Assets8.84%8.74%8.71%8.55%8.23%-61 bps
Liquidity & Funding
Loans / Deposits82.45%83.87%83.75%82.84%81.13%-132 bps
Liquid Assets / Assets6.65%6.01%7.41%8.16%9.37%+272 bps
CRE / Total Capitaln/an/an/an/an/an/an/a