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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 ’017.06%Q2 ’016.13%Q2 ’02-3%+23%

Non-interest income vs. expense

4.62%Q1 ’014.60%Q2 ’015.19%Q2 ’02-1%+13%

Executive Summary

  • Earnings: ROA of -1.84%, down 48 bps year over year; NIM at 3.83%.
  • 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 (quarter, annualized)

-1.84%-48 bps YoY

Net Interest Margin (quarter, annualized)

3.83%+72 bps YoY

Efficiency Ratio (quarter, annualized)

130.18%-1,013 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets-1.36%-1.54%-1.68%-1.02%-1.84%-48 bps
Return on Equity-12.72%-14.56%-14.66%-8.33%-16.85%-412 bps
Net Interest Margin3.12%3.05%2.67%3.25%3.83%+72 bps
Efficiency Ratio140.31%152.30%163.27%126.14%130.18%-1,013 bps
Non-Interest Burden4.44%4.72%4.49%4.14%5.04%+60 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 / Loans0.00%0.00%0.00%0.00%0.00%0 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