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Pittsburgh Savings Bank

Wexford, PA · Cert 30197

FDIC

Q3 2003

$373.5MAssets
$238.4MLoans
$183.3MDeposits
$28.7MEquity
Loan mix
92%RE $149.0M8%C&I $12.4M0%Consumer $0.3MQ3 2002Q3 2003
Deposit mix
92%Interest-bearing $168.4M8%Noninterest $14.9MQ3 2002Q3 2003

NIM

7.16%Q3 ’016.43%Q3 ’025.25%Q3 ’03-1%-29%

Non-interest income vs. expense

1.73%Q3 ’011.74%Q3 ’022.13%Q3 ’03-3%+31%

Executive Summary

  • Earnings: ROA of -0.24%, down 73 bps year over year; NIM at 1.56%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.16%.
  • Funding: loans stand at 130.08% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

-0.24%-73 bps YoY

Net Interest Margin (quarter, annualized)

1.56%-64 bps YoY

Efficiency Ratio (quarter, annualized)

115.62%+4,704 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets0.49%0.55%0.25%10.37%1-0.24%-73 bps
Return on Equity6.17%6.82%3.06%4.55%-3.03%-920 bps
Net Interest Margin2.20%2.03%2.01%1.98%1.56%-64 bps
Efficiency Ratio68.57%67.25%90.85%86.42%115.62%+4,704 bps
Non-Interest Burden1.42%1.12%1.81%1.67%1.85%+43 bps
Growth
Asset Growth (YoY)-2.99%-3.14%-8.52%-7.69%-9.85%-686 bps
Loan Growth (YoY)-15.19%-13.84%-14.02%-7.64%-2.26%+1,293 bps
Deposit Growth (YoY)-8.18%-8.50%-7.88%-5.15%-7.05%+114 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.06%0.00%0.12%0.02%0.16%+10 bps
Allowance / Loans1.24%1.29%1.33%1.32%1.30%+6 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 Capital14.29%14.50%14.89%13.53%13.14%-115 bps
Equity / Assets7.93%8.15%8.47%7.92%7.68%-25 bps
Liquidity & Funding
Loans / Deposits123.72%128.72%123.84%128.41%130.08%+637 bps
Liquid Assets / Assets7.87%3.80%8.74%6.00%6.00%-187 bps
CRE / Total Capitaln/an/an/an/an/an/an/a