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Newport Federal Savings Bank

Newport, RI · Cert 30626

FDIC

Q2 2013

$426.3MAssets
$360.2MLoans
$281.4MDeposits
$46.9MEquity
Loan mix
100%RE $320.1M0%C&I $0.9M0%Consumer $0.4MQ2 2012Q2 2013
Deposit mix
82%Interest-bearing $231.4M18%Noninterest $50.0MQ2 2012Q2 2013

NIM

4.42%Q1 ’124.17%Q2 ’124.03%Q2 ’13-7%+6%

Non-interest income vs. expense

2.79%Q1 ’122.72%Q2 ’122.69%Q2 ’13-2%-6%

Executive Summary

  • Earnings: ROA of 0.60%, up 37 bps year over year; NIM at 3.07%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.10%.
  • Funding: loans stand at 127.99% of deposits as of Q2 2013.

Financial Results

Return on Assets (quarter, annualized)

0.60%+37 bps YoY

Net Interest Margin (quarter, annualized)

3.07%+18 bps YoY

Efficiency Ratio (quarter, annualized)

74.08%-727 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2012Q3 2012Q4 2012Q1 2013Q2 2013YoY ΔTrend
Earnings
Return on Assets0.23%0.36%0.46%0.48%0.60%+37 bps
Return on Equity2.39%3.83%4.70%4.63%5.49%+309 bps
Net Interest Margin2.89%2.89%2.90%3.07%3.07%+18 bps
Efficiency Ratio81.35%79.45%77.04%74.69%74.08%-727 bps
Non-Interest Burden2.26%2.19%2.08%2.17%2.13%-13 bps
Growth
Asset Growth (YoY)3.39%2.85%-0.98%-7.91%-8.52%-1,191 bps
Loan Growth (YoY)3.47%5.37%3.04%0.80%-1.99%-546 bps
Deposit Growth (YoY)3.37%3.76%8.97%2.71%2.96%-41 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.38%0.01%0.03%0.05%0.10%-29 bps
Allowance / Loans1.00%1.04%1.12%1.11%1.09%+9 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 Capital16.05%16.36%17.14%17.42%17.60%+155 bps
Equity / Assets9.52%9.53%10.14%10.73%11.00%+148 bps
Liquidity & Funding
Loans / Deposits134.46%132.76%123.43%127.38%127.99%-646 bps
Liquid Assets / Assets11.98%12.31%10.96%7.17%6.67%-531 bps
CRE / Total Capitaln/an/an/an/an/an/an/a