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First Savings Bank

Woodbridge, NJ · Cert 30255

FDIC

Q2 2004

$2.2BAssets
$1.2BLoans
$1.4BDeposits
$219.7MEquity
Deposit mix
93%Interest-bearing $1.3B7%Noninterest $0.1BQ2 2003Q2 2004

NIM

5.80%Q2 ’024.78%Q2 ’034.63%Q2 ’04-15%+6%

Non-interest income vs. expense

1.19%Q2 ’021.21%Q2 ’031.59%Q2 ’04-4%+44%

Executive Summary

  • Earnings: ROA of 0.84%, down 29 bps year over year; NIM at 2.61%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 86.78% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

0.84%-29 bps YoY

Net Interest Margin (quarter, annualized)

2.61%+15 bps YoY

Efficiency Ratio (quarter, annualized)

53.07%+1,088 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.13%1.12%0.07%1.26%0.84%-29 bps
Return on Equity12.74%12.25%0.79%12.62%8.21%-453 bps
Net Interest Margin2.46%2.48%2.52%2.71%2.61%+15 bps
Efficiency Ratio42.19%40.79%74.00%40.92%53.07%+1,088 bps
Non-Interest Burden0.89%0.87%1.72%0.98%1.29%+39 bps
Growth
Asset Growth (YoY)0.95%-0.03%-2.34%-5.07%-3.95%-490 bps
Loan Growth (YoY)-3.91%-2.94%0.78%0.62%-2.28%+163 bps
Deposit Growth (YoY)1.90%1.09%-3.54%-4.35%-3.04%-493 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.00%0.01%0.00%0.00%-1 bps
Allowance / Loans1.04%1.05%1.04%1.03%1.08%+4 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 Capital18.63%19.03%19.43%20.05%20.67%+203 bps
Equity / Assets9.03%9.26%9.70%10.29%10.14%+111 bps
Liquidity & Funding
Loans / Deposits86.12%86.03%89.87%90.24%86.78%+67 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a