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Millennium Bank

Malvern, PA · Cert 34924

FDIC

Q1 2004

$202.0MAssets
$152.6MLoans
$157.3MDeposits
$17.5MEquity
Loan mix
58%RE $52.4M29%C&I $26.0M13%Consumer $11.6MQ1 2003Q1 2004
Deposit mix
90%Interest-bearing $141.0M10%Noninterest $16.3MQ1 2003Q1 2004

NIM

5.47%Q1 ’025.17%Q1 ’034.77%Q1 ’04+15%+3%

Non-interest income vs. expense

4.14%Q1 ’022.95%Q1 ’034.39%Q1 ’04-30%+1%

Executive Summary

  • Earnings: ROA of 0.66%, up 53 bps year over year; NIM at 3.04%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 97.01% of deposits as of Q1 2004.

Financial Results

Return on Assets (quarter, annualized)

0.66%+53 bps YoY

Net Interest Margin (quarter, annualized)

3.04%+9 bps YoY

Efficiency Ratio (quarter, annualized)

90.85%+148 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets0.13%0.15%0.19%0.41%0.66%+53 bps
Return on Equity1.66%1.92%2.45%5.39%8.12%+645 bps
Net Interest Margin2.96%2.97%2.95%3.18%3.04%+9 bps
Efficiency Ratio89.37%92.63%92.08%89.67%90.85%+148 bps
Non-Interest Burden2.61%2.70%2.62%2.71%2.64%+3 bps
Growth
Asset Growth (YoY)17.41%3.44%12.67%5.13%5.85%-1,156 bps
Loan Growth (YoY)37.17%23.25%14.62%8.57%2.40%-3,477 bps
Deposit Growth (YoY)22.32%8.38%8.98%9.94%3.77%-1,855 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%0.00%0.00%0.03%0.00%-30 bps
Allowance / Loans1.00%1.07%1.08%1.07%1.10%+10 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 Capital10.63%11.23%10.78%10.76%11.42%+79 bps
Equity / Assets7.79%8.35%7.56%7.54%8.65%+86 bps
Liquidity & Funding
Loans / Deposits98.30%97.32%98.38%99.45%97.01%-130 bps
Liquid Assets / Assets14.43%2.25%2.44%2.06%4.03%-1,039 bps
CRE / Total Capitaln/an/an/an/an/an/an/a