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Letter portraitLegal landscapeQuarterYTD

Merrill Merchants Bank

Bangor, ME · Cert 33704

FDIC

Q4 2008

$599.1MAssets
$370.0MLoans
$294.0MDeposits
n/aEquity
Loan mix
80%RE $245.1M20%C&I $60.0M0%Consumer $0.4MQ4 2007Q4 2008
Deposit mix
85%Interest-bearing $295.5M15%Noninterest $51.6MQ4 2007Q4 2008

NIM

6.65%Q4 ’065.73%Q4 ’07-17%

Non-interest income vs. expense

2.88%Q4 ’062.30%Q4 ’07-6%

Executive Summary

  • Earnings: ROA of 0.50%, down 47 bps year over year.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY).
  • Funding: loans stand at 125.86% of deposits as of Q4 2008.

Financial Results

Return on Assets (quarter, annualized)

0.50%-47 bps YoY

Net Interest Margin (quarter, annualized)

n/a

Efficiency Ratio (quarter, annualized)

n/a

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2007Q1 2008Q2 2008Q3 2008Q4 2008YoY ΔTrend
Earnings
Return on Assets0.96%0.30%0.49%0.48%0.50%-47 bps
Return on Equity4.67%n/an/an/an/an/a
Net Interest Margin3.24%n/an/an/an/an/a
Efficiency Ratio52.32%n/an/an/an/an/a
Non-Interest Burden1.41%n/an/an/an/an/a
Growth
Asset Growth (YoY)18.38%30.45%13.78%12.02%13.20%-518 bps
Loan Growth (YoY)8.21%1.24%0.26%-0.27%0.65%-756 bps
Deposit Growth (YoY)-4.01%0.12%-16.06%-16.51%-15.30%-1,129 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.37%n/an/an/an/an/a
Allowance / Loans1.14%n/an/an/an/an/a
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 Capital11.55%n/an/an/an/an/a
Equity / Assets20.82%n/an/an/an/an/a
Liquidity & Funding
Loans / Deposits105.92%101.39%119.63%124.71%125.86%+1,994 bps
Liquid Assets / Assets1.25%0.00%0.00%0.00%0.00%-125 bps
CRE / Total Capitaln/an/an/an/an/an/an/a