First Massachusetts Bank, N.A.

Worcester, MA · Cert 34136

FDIC

Q4 2001

$6.6BAssets

$4.7BLoans

$4.4BDeposits

$521.0MEquity

Loan mix

Deposit mix

Executive Summary

Earnings: ROA of 1.06%, up 35 bps year over year; NIM at 3.33%.
Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.18%.
Funding: loans stand at 105.95% of deposits as of Q4 2001.

Return on Assets (YTD, annualized)

1.06%+35 bps YoY

Net Interest Margin (YTD, annualized)

3.33%

Efficiency Ratio (YTD, annualized)

57.94%

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

Metric	Q1 2000	Q2 2000	Q3 2000	Q4 2000	Q1 2001	Q2 2001	Q3 2001	Q4 2001	YoY Δ	Trend
Earnings
Return on Assets	0.91%	0.59%	0.71%	0.71%	1.01%	1.18%	1.17%	1.06%	+35 bps
Return on Equity	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net Interest Margin	n/a	n/a	n/a	n/a	3.25%	3.32%	3.43%	3.33%	n/a
Efficiency Ratio	n/a	n/a	n/a	n/a	61.70%	56.44%	55.59%	57.94%	n/a
Non-Interest Burden	n/a	n/a	n/a	n/a	1.65%	1.47%	1.50%	1.55%	n/a
Growth
Asset Growth (YoY)	7.27%	469%	467%	461%	467%	4.15%	-7.03%	7.32%	-45,401 bps
Loan Growth (YoY)	11.81%	431%	442%	456%	457%	14.53%	12.24%	28.79%	-42,708 bps
Deposit Growth (YoY)	2.50%	330%	324%	321%	314%	1.78%	0.21%	23.62%	-29,756 bps
Asset Quality
Nonperforming Loans / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Net Charge-Offs / Loans	n/a	n/a	n/a	n/a	0.08%	0.07%	0.12%	0.18%	n/a
Allowance / Loans	n/a	n/a	n/a	n/a	1.14%	1.12%	1.23%	1.34%	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	n/a	n/a	n/a	n/a	10.58%	15.22%	16.00%	12.16%	n/a
Equity / Assets	n/a	n/a	n/a	n/a	7.43%	7.38%	8.72%	7.87%	n/a
Liquidity & Funding
Loans / Deposits	77.71%	95.46%	98.19%	101.70%	104.51%	107.43%	109.98%	105.95%	+425 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	1.51%	1.46%	0.35%	0.26%	+26 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a