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Commonwealth Bank

Norristown, PA · Cert 30024

FDIC

Q4 2002

$1.8BAssets
$1.1BLoans
$1.5BDeposits
$147.2MEquity
Loan mix
87%RE $678.0M10%C&I $80.1M2%Consumer $17.8MQ4 2001Q4 2002
Deposit mix
86%Interest-bearing $1.3B14%Noninterest $0.2BQ4 2001Q4 2002

NIM

7.27%Q1 ’017.19%Q4 ’016.09%Q4 ’02+7%+2%

Non-interest income vs. expense

4.25%Q1 ’013.80%Q4 ’013.78%Q4 ’02-17%-3%

Executive Summary

  • Earnings: ROA of 1.02%, up 24 bps year over year; NIM at 4.34%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.47%.
  • Funding: loans stand at 71.32% of deposits as of Q4 2002.

Financial Results

Return on Assets (YTD, annualized)

1.02%+24 bps YoY

Net Interest Margin (YTD, annualized)

4.34%+8 bps YoY

Efficiency Ratio (YTD, annualized)

63.85%-678 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets0.78%0.98%1.06%1.13%1.02%+24 bps
Return on Equityn/a12.24%13.21%14.10%12.81%n/a
Net Interest Margin4.25%4.36%4.46%4.47%4.34%+8 bps
Efficiency Ratio70.63%61.58%61.49%61.32%63.85%-678 bps
Non-Interest Burden2.67%2.51%2.55%2.54%2.60%-8 bps
Growth
Asset Growth (YoY)-4.61%-3.78%-2.69%1.85%3.50%+810 bps
Loan Growth (YoY)-10.02%-12.49%-13.38%-14.36%-16.90%-688 bps
Deposit Growth (YoY)2.54%1.95%-0.09%1.15%1.83%-70 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.43%0.47%0.48%0.43%0.47%+5 bps
Allowance / Loans1.08%1.18%1.23%1.31%1.41%+33 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 Capital10.64%10.62%10.94%10.74%11.39%+75 bps
Equity / Assets8.03%7.92%8.09%7.91%7.98%-5 bps
Liquidity & Funding
Loans / Deposits87.39%83.97%82.52%79.46%71.32%-1,607 bps
Liquid Assets / Assets2.54%0.87%0.59%1.42%8.11%+557 bps
CRE / Total Capitaln/an/an/an/an/an/an/a