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Sterling Bank

Mount Laurel, NJ · Cert 33211

FDIC

Q2 2010

$357.2MAssets
$284.1MLoans
$320.2MDeposits
$21.6MEquity
Loan mix
84%RE $160.4M16%C&I $29.6M0%Consumer $0.1MQ2 2009Q2 2010
Deposit mix
89%Interest-bearing $285.8M11%Noninterest $34.4MQ2 2009Q2 2010

NIM

5.76%Q2 ’084.88%Q2 ’094.67%Q2 ’10-17%+18%

Non-interest income vs. expense

3.67%Q2 ’083.79%Q2 ’093.83%Q2 ’10+9%+1%

Executive Summary

  • Earnings: ROA of -1.15%, up 853 bps year over year; NIM at 3.34%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.92%.
  • Funding: loans stand at 88.72% of deposits as of Q2 2010.

Financial Results

Return on Assets (quarter, annualized)

-1.15%+853 bps YoY

Net Interest Margin (quarter, annualized)

3.34%+51 bps YoY

Efficiency Ratio (quarter, annualized)

112.25%-1,838 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets-9.69%-0.42%0.57%-0.94%-1.15%+853 bps
Return on Equity-138.39%-7.16%9.46%-15.35%-19.14%+11,925 bps
Net Interest Margin2.83%3.14%3.24%3.37%3.34%+51 bps
Efficiency Ratio130.63%109.67%105.52%107.28%112.25%-1,838 bps
Non-Interest Burden3.80%3.56%3.53%3.73%3.85%+6 bps
Growth
Asset Growth (YoY)0.08%-1.24%-2.39%-6.11%-6.83%-692 bps
Loan Growth (YoY)-2.82%-1.69%-1.68%-2.17%-5.53%-271 bps
Deposit Growth (YoY)3.13%6.47%0.50%-3.64%-6.79%-992 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.87%1.35%0.92%1.66%1.92%-95 bps
Allowance / Loans3.86%3.57%3.30%3.12%2.97%-89 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 Capital8.25%8.41%8.64%8.44%8.37%+12 bps
Equity / Assets5.83%5.93%6.22%6.03%6.03%+20 bps
Liquidity & Funding
Loans / Deposits87.53%86.50%90.79%89.45%88.72%+119 bps
Liquid Assets / Assets3.71%3.09%2.49%2.02%1.78%-194 bps
CRE / Total Capitaln/an/an/an/an/an/an/a