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Astoria Federal Savings and Loan Association

Long Island City, NY · Cert 29805

FDIC · 88 branches

Q3 2017

$13.9BAssets
$9.5BLoans
$9.2BDeposits
$1.9BEquity
Loan mix
99%RE $8.9B1%C&I $0.1B0%Consumer $0.0BQ4 2015Q3 2017
Deposit mix
86%Interest-bearing $7.9B14%Noninterest $1.3BQ4 2015Q3 2017

Market Position · New York-Newark-Jersey City, NY-NJ-PA · 2017 SOD (annual) · 0.5% share · #23 of 210 inst. · $9.1B of $1816.5B

4.5% Nassau
3.5% Queens
3.6% Suffolk
2.2% Kings

Executive Summary

  • Earnings: ROA of 0.35%, down 22 bps year over year; NIM at 2.39%.
  • Asset quality: problem loans at 1.45% of loans (+145 bps YoY), with net charge-offs at 0.03%.
  • Capital: tier 1 leverage ratio of 12.45%, up 70 bps from a year ago.
  • Funding: loans stand at 103.38% of deposits as of Q3 2017.

Return on Assets (YTD, annualized)

0.35%-22 bps YoY

Net Interest Margin (YTD, annualized)

2.39%+2 bps YoY

Efficiency Ratio (YTD, annualized)

85.48%+1,701 bps YoY

Tier 1 Leverage Ratio

12.45%+70 bps YoY

NIM

3.16%Q3 ’153.09%Q3 ’163.13%Q3 ’170%+1%

Non-interest income vs. expense

1.83%Q3 ’151.79%Q3 ’162.26%Q3 ’17+1%+30%

Year to date, annualized, through each quarter.

MetricQ4 2015Q1 2016Q2 2016Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017YoY ΔTrend
Earnings
Return on Assets0.66%0.58%0.57%0.57%0.57%0.50%0.55%0.35%-22 bps
Return on Equity5.61%4.73%4.67%4.66%4.57%3.78%4.14%2.65%-201 bps
Net Interest Margin2.39%2.35%2.35%2.37%2.40%2.36%2.37%2.39%+2 bps
Efficiency Ratio68.94%69.04%69.15%68.47%68.12%72.68%69.81%85.48%+1,701 bps
Non-Interest Burden1.53%1.52%1.53%1.51%1.52%1.61%1.54%1.97%+46 bps
Growth
Asset Growth (YoY)-3.80%-3.44%-1.92%-1.74%-3.32%-4.31%-5.68%-5.68%-394 bps
Loan Growth (YoY)-6.71%-6.91%-5.87%-5.54%-6.57%-7.32%-8.66%-10.25%-471 bps
Deposit Growth (YoY)-4.15%-3.69%-3.00%-1.37%-2.50%-0.80%-0.75%1.11%+247 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%1.36%1.40%1.45%+145 bps
Net Charge-Offs / Loans0.01%0.02%0.03%0.04%0.03%0.04%0.03%0.03%-1 bps
Allowance / Loans0.88%0.86%0.83%0.82%0.83%0.81%0.80%0.83%+1 bps
Allowance Coverage of NPLsn/an/an/an/an/a0.6x0.6x0.6xn/a
Capital
Tier 1 Leverage Ratio11.29%11.37%11.54%11.75%12.09%12.44%12.28%12.45%+70 bps
Total Risk-Based Capital20.25%20.72%21.30%22.14%21.88%22.89%23.32%24.19%+204 bps
Equity / Assets12.10%12.21%12.36%12.67%13.01%13.34%13.21%13.33%+66 bps
Liquidity & Funding
Loans / Deposits120.18%118.66%118.55%116.45%115.15%110.86%109.10%103.38%-1,307 bps
Liquid Assets / Assets15.65%16.54%17.75%18.53%18.81%19.46%20.51%21.91%+338 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a