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Greenwich Bank & Trust Company, The

Greenwich, CT · Cert 34650

FDIC

Q3 2003

$99.9MAssets
$85.0MLoans
$86.1MDeposits
$9.4MEquity
Deposit mix
76%Interest-bearing $65.8M24%Noninterest $20.3MQ3 2002Q3 2003

NIM

6.08%Q3 ’015.83%Q3 ’025.96%Q3 ’03+19%+10%

Non-interest income vs. expense

4.35%Q3 ’014.11%Q3 ’023.10%Q3 ’03-7%-24%

Executive Summary

  • Earnings: ROA of 1.17%, down 33 bps year over year; NIM at 4.88%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 98.69% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

1.17%-33 bps YoY

Net Interest Margin (quarter, annualized)

4.88%+45 bps YoY

Efficiency Ratio (quarter, annualized)

60.08%-2,543 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.51%6.93%0.72%1.01%1.17%-33 bps
Return on Equity14.59%61.89%6.56%9.89%12.17%-242 bps
Net Interest Margin4.44%4.71%4.84%4.79%4.88%+45 bps
Efficiency Ratio85.52%79.75%69.51%64.72%60.08%-2,543 bps
Non-Interest Burden3.74%3.66%3.25%2.97%2.82%-92 bps
Growth
Asset Growth (YoY)3.39%7.01%21.41%24.77%43.98%+4,059 bps
Loan Growth (YoY)45.11%40.20%43.92%33.81%41.02%-409 bps
Deposit Growth (YoY)5.27%3.63%12.88%26.07%42.02%+3,675 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%0.14%0.00%0 bps
Allowance / Loans1.15%1.14%1.16%1.09%1.02%-13 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 Capital13.28%12.44%11.43%10.97%10.66%-262 bps
Equity / Assets10.87%11.50%10.65%9.89%9.42%-145 bps
Liquidity & Funding
Loans / Deposits99.39%102.85%109.91%99.47%98.69%-70 bps
Liquid Assets / Assets0.07%0.03%0.09%0.03%0.01%-6 bps
CRE / Total Capitaln/an/an/an/an/an/an/a