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Letter portraitLegal landscapeQuarterYTD

U.S. Trust Company of New Jersey

Princeton, NJ · Cert 33757

FDIC

Q4 2001

$150.6MAssets
$12.9MLoans
$108.1MDeposits
$35.5MEquity
Deposit mix
96%Interest-bearing $104.1M4%Noninterest $4.0MQ4 2000Q4 2001

NIM

5.87%Q1 ’014.96%Q3 ’013.78%Q4 ’01+22%-12%

Non-interest income vs. expense

13.90%Q1 ’0112.71%Q3 ’0115.00%Q4 ’01+38%+36%

Executive Summary

  • Earnings: ROA of 2.96%, down 182 bps year over year; NIM at 2.31%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 11.97% of deposits as of Q4 2001.

Financial Results

Return on Assets (quarter, annualized)

2.96%-182 bps YoY

Net Interest Margin (quarter, annualized)

2.31%

Efficiency Ratio (quarter, annualized)

74.41%

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2000Q1 2001Q2 2001Q3 2001Q4 2001YoY ΔTrend
Earnings
Return on Assets4.78%5.38%5.00%4.56%2.96%-182 bps
Return on Equityn/an/a21.91%19.71%12.60%n/a
Net Interest Marginn/a2.15%2.46%2.63%2.31%n/a
Efficiency Ration/a59.73%61.97%64.25%74.41%n/a
Non-Interest Burdenn/a-7.21%-5.71%-4.44%-2.85%n/a
Growth
Asset Growth (YoY)10.74%18.07%21.89%19.65%18.88%+815 bps
Loan Growth (YoY)29.81%13.33%5.13%13.78%2.21%-2,760 bps
Deposit Growth (YoY)2.64%12.95%15.86%14.03%17.46%+1,482 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loansn/a0.00%0.00%0.00%0.00%n/a
Allowance / Loansn/a2.69%2.85%2.56%2.55%n/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 Capitaln/a89.66%97.80%79.34%85.52%n/a
Equity / Assetsn/a22.73%22.88%23.40%23.57%n/a
Liquidity & Funding
Loans / Deposits13.76%12.23%11.15%12.05%11.97%-179 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a