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Naugatuck Valley Savings and Loan, S.B.

Naugatuck, CT · Cert 30365

FDIC · 10 branches

Q4 2015

$492.8MAssets
$381.5MLoans
$380.7MDeposits
$56.3MEquity
Loan mix
91%RE $298.9M7%C&I $23.1M2%Consumer $6.5MQ4 2014Q4 2015
Deposit mix
86%Interest-bearing $327.2M14%Noninterest $53.4MQ4 2014Q4 2015

NIM

4.20%Q4 ’134.01%Q4 ’143.85%Q4 ’15-2%-4%

Non-interest income vs. expense

4.52%Q4 ’134.33%Q4 ’144.53%Q4 ’15-3%+7%

Market Position · New Haven-Milford, CT · 2015 SOD (annual) · 1.4% share · #12 of 26 inst. · $0.3B of $25.5B

1.4% New Haven
0.1% Fairfield

Executive Summary

  • Earnings: ROA of 0.04%, down 18 bps year over year; NIM at 3.21%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 11.33%.
  • Funding: loans stand at 100.22% of deposits as of Q4 2015.

Financial Results

Return on Assets (YTD, annualized)

0.04%1-18 bps YoY

Net Interest Margin (YTD, annualized)

3.21%-15 bps YoY

Efficiency Ratio (YTD, annualized)

122.55%+1,183 bps YoY

Tier 1 Leverage Ratio

11.33%

Year to date, annualized, through each quarter.

MetricQ4 2014Q1 2015Q2 2015Q3 2015Q4 2015YoY ΔTrend
Earnings
Return on Assets0.22%10.24%10.57%0.56%0.04%1-18 bps
Return on Equity2.03%2.13%5.11%4.95%0.34%-169 bps
Net Interest Margin3.36%3.16%3.09%3.18%3.21%-15 bps
Efficiency Ratio110.72%102.57%108.82%104.92%122.55%+1,183 bps
Non-Interest Burden3.78%3.24%3.40%3.36%4.04%+27 bps
Growth
Asset Growth (YoY)1.67%-0.08%-2.28%0.94%-0.81%-248 bps
Loan Growth (YoY)-0.31%2.11%1.75%6.17%3.01%+332 bps
Deposit Growth (YoY)-4.87%-2.79%-3.76%-2.14%-0.22%+465 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.57%0.08%0.01%0.00%0.01%-57 bps
Allowance / Loans1.63%1.57%1.20%1.19%0.80%-83 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/a11.18%11.08%11.44%11.33%n/a
Total Risk-Based Capital18.67%17.64%17.97%17.95%17.65%-102 bps
Equity / Assets11.34%11.15%11.29%11.60%11.43%+8 bps
Liquidity & Funding
Loans / Deposits97.09%98.35%99.97%103.19%100.22%+314 bps
Liquid Assets / Assets3.50%2.67%4.61%4.52%4.48%+97 bps
CRE / Total Capitaln/an/an/an/an/an/an/a