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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 ’016.66%Q4 ’015.81%Q4 ’02+9%-4%

Non-interest income vs. expense

4.25%Q1 ’013.72%Q4 ’014.11%Q4 ’02-23%+17%

Executive Summary

  • Earnings: ROA of 0.73%, down 23 bps year over year; NIM at 4.15%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.49%.
  • Funding: loans stand at 71.32% of deposits as of Q4 2002.

Financial Results

Return on Assets (quarter, annualized)

0.73%-23 bps YoY

Net Interest Margin (quarter, annualized)

4.15%-18 bps YoY

Efficiency Ratio (quarter, annualized)

71.73%+514 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2001Q1 2002Q2 2002Q3 2002Q4 2002YoY ΔTrend
Earnings
Return on Assets0.96%0.98%1.14%1.27%0.73%-23 bps
Return on Equity11.46%12.24%14.28%15.84%9.14%-232 bps
Net Interest Margin4.34%4.36%4.54%4.64%4.15%-18 bps
Efficiency Ratio66.59%61.58%61.41%60.99%71.73%+514 bps
Non-Interest Burden2.47%2.51%2.57%2.61%2.89%+42 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 / Loans0.57%0.47%0.47%0.31%0.49%-7 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