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Middlesex Bank & Trust Company

Newton, MA · Cert 34266

FDIC

Q2 2002

$49.6MAssets
$33.8MLoans
$34.4MDeposits
$4.9MEquity
Loan mix
57%RE $8.4M43%C&I $6.3M0%Consumer $0.0MQ2 2001Q2 2002
Deposit mix
82%Interest-bearing $28.3M18%Noninterest $6.1MQ2 2001Q2 2002

NIM

7.43%Q1 ’017.19%Q2 ’015.80%Q2 ’02-2%+9%

Non-interest income vs. expense

4.62%Q1 ’014.58%Q2 ’014.59%Q2 ’02-1%+0%

Executive Summary

  • Earnings: ROA of -1.43%, down 6 bps year over year; NIM at 3.43%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 98.25% of deposits as of Q2 2002.

Financial Results

Return on Assets (YTD, annualized)

-1.43%-6 bps YoY

Net Interest Margin (YTD, annualized)

3.43%+29 bps YoY

Efficiency Ratio (YTD, annualized)

128.39%-1,070 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets-1.37%-1.42%-1.49%-1.02%-1.43%-6 bps
Return on Equityn/an/an/a-8.33%-12.54%n/a
Net Interest Margin3.14%3.15%2.88%3.25%3.43%+29 bps
Efficiency Ratio139.10%143.34%148.06%126.14%128.39%-1,070 bps
Non-Interest Burden4.42%4.58%4.34%4.14%4.44%+2 bps
Growth
Asset Growth (YoY)1.38%0.49%-2.33%-1.55%21.97%+2,059 bps
Loan Growth (YoY)42.86%13.70%20.91%25.69%50.22%+735 bps
Deposit Growth (YoY)-6.33%-5.90%-8.44%6.31%9.29%+1,563 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.07%-0.05%-0.04%0.00%0.00%+7 bps
Allowance / Loans1.48%1.62%1.53%1.40%1.47%-2 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 Capital15.51%15.92%18.57%14.72%12.63%-288 bps
Equity / Assets10.68%10.50%12.49%12.03%9.96%-72 bps
Liquidity & Funding
Loans / Deposits71.48%67.84%72.25%79.35%98.25%+2,677 bps
Liquid Assets / Assets10.00%20.10%1.99%1.91%0.09%-991 bps
CRE / Total Capitaln/an/an/an/an/an/an/a