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Oritani Savings Bank

Hackensack, NJ · Cert 28866

FDIC · 27 branches

Q3 2019

$4.0BAssets
$3.4BLoans
$3.0BDeposits
$496.0MEquity
Loan mix
99%RE $2.2B1%C&I $0.0B0%Consumer $0.0BQ4 2017Q3 2019
Deposit mix
94%Interest-bearing $2.8B6%Noninterest $0.2BQ4 2017Q3 2019

Market Position · New York-Newark-Jersey City, NY-NJ-PA · 2019 SOD (annual) · 0.2% share · #49 of 187 inst. · $3.0B of $1861.3B

4.6% Bergen
0.5% Hudson
0.7% Passaic
0.2% Essex

Executive Summary

  • Earnings: ROA of 1.22%, down 7 bps year over year; NIM at 2.46%.
  • Asset quality: problem loans at 0.18% of loans (-7 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 12.37%, up 63 bps from a year ago.
  • Funding: loans stand at 116.29% of deposits as of Q3 2019.

Return on Assets (quarter, annualized)

1.22%-7 bps YoY

Net Interest Margin (quarter, annualized)

2.46%-20 bps YoY

Efficiency Ratio (quarter, annualized)

35.74%-636 bps YoY

Tier 1 Leverage Ratio

12.37%+63 bps YoY

NIM

3.69%Q3 ’173.74%Q3 ’183.97%Q3 ’19-1%-7%

Non-interest income vs. expense

0.89%Q3 ’171.16%Q3 ’180.91%Q3 ’19+35%-24%

Discrete quarter, annualized.

MetricQ4 2017Q1 2018Q2 2018Q3 2018Q4 2018Q1 2019Q2 2019Q3 2019YoY ΔTrend
Earnings
Return on Assets0.37%1.29%1.30%1.29%1.32%1.21%1.25%1.22%-7 bps
Return on Equity3.00%10.65%10.94%10.92%10.77%10.02%10.61%9.99%-93 bps
Net Interest Margin2.64%2.59%2.66%2.65%2.58%2.39%2.46%2.46%-20 bps
Efficiency Ratio35.39%34.72%34.38%42.09%35.85%37.36%36.91%35.74%-636 bps
Non-Interest Burden0.87%0.85%0.84%1.06%0.81%0.83%0.85%0.81%-25 bps
Growth
Asset Growth (YoY)2.75%0.38%0.70%-0.22%-0.79%-1.63%-2.32%-2.95%-274 bps
Loan Growth (YoY)5.96%1.00%-0.71%-1.72%-2.90%-2.02%-1.44%-2.29%-57 bps
Deposit Growth (YoY)13.63%10.14%2.11%0.19%-1.46%-1.74%0.19%0.46%+27 bps
Asset Quality
Nonperforming Loans / Loans0.40%0.33%0.22%0.26%0.30%0.28%0.28%0.18%-7 bps
Net Charge-Offs / Loans0.00%-0.01%-0.01%0.00%-0.01%0.01%0.00%0.00%0 bps
Allowance / Loans0.84%0.85%0.86%0.81%0.82%0.81%0.81%0.83%+2 bps
Allowance Coverage of NPLs2.1x2.6x3.9x3.2x2.7x2.9x2.9x4.5x+1.4x
Capital
Tier 1 Leverage Ratio11.72%12.13%11.38%11.74%12.25%11.59%11.90%12.37%+63 bps
Total Risk-Based Capital13.92%14.30%13.56%14.05%14.52%13.75%14.15%14.79%+73 bps
Equity / Assets11.92%12.29%11.56%12.07%12.38%11.69%11.92%12.44%+36 bps
Liquidity & Funding
Loans / Deposits121.60%120.49%121.23%119.56%119.82%120.14%119.25%116.29%-326 bps
Liquid Assets / Assets6.11%7.34%8.32%8.08%8.54%8.30%8.35%8.24%+16 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a