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Letter portraitLegal landscapeQuarterYTD

Lake Sunapee Bank, FSB

Newport, NH · Cert 31953

FDIC · 35 branches

Q4 2016

$1.6BAssets
$1.2BLoans
$1.2BDeposits
$172.3MEquity
Loan mix
94%RE $1.0B6%C&I $0.1B1%Consumer $0.0BQ4 2015Q4 2016
Deposit mix
95%Interest-bearing $1.1B5%Noninterest $0.1BQ4 2015Q4 2016

NIM

3.26%Q4 ’143.20%Q4 ’153.23%Q4 ’16+3%+0%

Non-interest income vs. expense

3.27%Q4 ’143.21%Q4 ’153.00%Q4 ’16-3%+3%

Market Position · Manchester-Nashua, NH · 2016 SOD (annual) · 1.2% share · #8 of 21 inst. · $0.1B of $11.3B

37.4% Sullivan
5.8% Merrimack
6.1% Grafton
1.2% Hillsborough

Executive Summary

  • Earnings: ROA of 0.77%, up 5 bps year over year; NIM at 2.95%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Capital: tier 1 leverage ratio of 8.82%, down 20 bps from a year ago.
  • Funding: loans stand at 106.12% of deposits as of Q4 2016.

Financial Results

Return on Assets (YTD, annualized)

0.77%+5 bps YoY

Net Interest Margin (YTD, annualized)

2.95%0 bps YoY

Efficiency Ratio (YTD, annualized)

71.83%-27 bps YoY

Tier 1 Leverage Ratio

8.82%-20 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2015Q1 2016Q2 2016Q3 2016Q4 2016YoY ΔTrend
Earnings
Return on Assets0.71%0.74%0.83%0.83%0.77%+5 bps
Return on Equity6.23%6.68%7.44%7.46%6.90%+67 bps
Net Interest Margin2.95%2.94%2.91%2.91%2.95%0 bps
Efficiency Ratio72.10%71.11%71.04%69.97%71.83%-27 bps
Non-Interest Burden1.76%1.72%1.76%1.71%1.81%+5 bps
Growth
Asset Growth (YoY)1.01%5.19%5.40%6.31%2.34%+133 bps
Loan Growth (YoY)0.88%1.35%3.32%3.58%0.79%-9 bps
Deposit Growth (YoY)0.41%0.85%-0.33%-0.20%0.17%-24 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.11%0.10%0.05%0.04%0.04%-8 bps
Allowance / Loans0.72%0.71%0.70%0.72%0.72%0 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio9.02%8.72%8.71%8.73%8.82%-20 bps
Total Risk-Based Capital13.62%12.94%13.53%13.51%13.61%-1 bps
Equity / Assets11.26%11.03%11.06%11.13%11.10%-17 bps
Liquidity & Funding
Loans / Deposits105.46%106.08%108.02%108.26%106.12%+66 bps
Liquid Assets / Assets1.39%1.58%2.14%1.12%1.35%-4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a