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Interbank of New York

New York, NY · Cert 33142

FDIC

Q4 2003

$270.2MAssets
$138.5MLoans
$244.2MDeposits
$24.2MEquity
Loan mix
70%RE $47.0M30%C&I $20.1M1%Consumer $0.4MQ4 2002Q4 2003
Deposit mix
77%Interest-bearing $187.0M23%Noninterest $57.2MQ4 2002Q4 2003

NIM

6.68%Q4 ’015.63%Q4 ’024.92%Q4 ’03-13%-5%

Non-interest income vs. expense

4.50%Q4 ’012.84%Q4 ’022.93%Q4 ’03-44%+6%

Executive Summary

  • Earnings: ROA of 0.63%, down 40 bps year over year; NIM at 3.94%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.69%.
  • Funding: loans stand at 56.71% of deposits as of Q4 2003.

Financial Results

Return on Assets (quarter, annualized)

0.63%-40 bps YoY

Net Interest Margin (quarter, annualized)

3.94%-22 bps YoY

Efficiency Ratio (quarter, annualized)

64.01%+527 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2002Q1 2003Q2 2003Q3 2003Q4 2003YoY ΔTrend
Earnings
Return on Assets1.03%0.89%0.42%0.96%0.63%-40 bps
Return on Equity12.05%10.66%5.12%11.55%7.23%-481 bps
Net Interest Margin4.16%4.06%4.10%4.19%3.94%-22 bps
Efficiency Ratio58.74%63.20%82.46%60.53%64.01%+527 bps
Non-Interest Burden2.17%2.33%3.27%2.29%2.29%+12 bps
Growth
Asset Growth (YoY)24.19%16.02%14.24%11.71%3.61%-2,057 bps
Loan Growth (YoY)9.14%6.60%-0.34%-1.53%-3.28%-1,242 bps
Deposit Growth (YoY)26.45%17.17%14.27%11.51%2.70%-2,375 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.32%-0.12%0.05%-0.01%0.69%+37 bps
Allowance / Loans1.17%1.27%1.26%1.29%1.35%+17 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 Capital13.56%13.70%13.93%14.30%14.83%+127 bps
Equity / Assets8.52%8.25%8.19%8.44%8.96%+44 bps
Liquidity & Funding
Loans / Deposits60.21%54.60%53.92%54.50%56.71%-350 bps
Liquid Assets / Assets29.52%34.32%36.66%36.43%36.39%+688 bps
CRE / Total Capitaln/an/an/an/an/an/an/a