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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 $0.0BQ1 2015Q4 2016
Deposit mix
95%Interest-bearing $1.1B5%Noninterest $0.1BQ1 2015Q4 2016

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 0.57%, down 11 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 0.02%.
  • 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.

Return on Assets (quarter, annualized)

0.57%-11 bps YoY

Net Interest Margin (quarter, annualized)

2.95%-3 bps YoY

Efficiency Ratio (quarter, annualized)

77.50%+493 bps YoY

Tier 1 Leverage Ratio

8.82%-20 bps YoY

NIM

3.28%Q4 ’143.22%Q4 ’153.21%Q4 ’16+4%-1%

Non-interest income vs. expense

3.33%Q4 ’143.20%Q4 ’153.19%Q4 ’16-2%+13%

Discrete quarter, annualized.

MetricQ1 2015Q2 2015Q3 2015Q4 2015Q1 2016Q2 2016Q3 2016Q4 2016YoY ΔTrend
Earnings
Return on Assets0.73%0.78%0.67%0.68%0.74%0.91%0.83%0.57%-11 bps
Return on Equity6.31%6.70%5.89%6.01%6.68%8.20%7.48%5.15%-86 bps
Net Interest Margin2.97%2.95%2.99%2.98%2.94%2.96%2.92%2.95%-3 bps
Efficiency Ratio72.12%69.53%74.23%72.57%71.11%70.96%67.88%77.50%+493 bps
Non-Interest Burden1.79%1.61%1.89%1.82%1.72%1.85%1.61%2.05%+23 bps
Growth
Asset Growth (YoY)3.55%1.33%0.48%1.01%5.19%5.40%6.31%2.34%+133 bps
Loan Growth (YoY)3.49%-0.42%-0.82%0.88%1.35%3.32%3.58%0.79%-9 bps
Deposit Growth (YoY)6.29%3.76%3.17%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%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.12%0.11%0.11%0.10%0.10%0.01%0.01%0.02%-8 bps
Allowance / Loans0.75%0.74%0.71%0.72%0.71%0.70%0.72%0.72%0 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio9.28%9.27%8.85%9.02%8.72%8.71%8.73%8.82%-20 bps
Total Risk-Based Capital14.27%14.27%13.76%13.62%12.94%13.53%13.51%13.61%-1 bps
Equity / Assets11.69%11.48%11.35%11.26%11.03%11.06%11.13%11.10%-17 bps
Liquidity & Funding
Loans / Deposits105.56%104.21%104.32%105.46%106.08%108.02%108.26%106.12%+66 bps
Liquid Assets / Assets1.82%2.63%1.68%1.39%1.58%2.14%1.12%1.35%-4 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a