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Boardwalk Bank

Linwood, NJ · Cert 35143

FDIC

Q4 2007

$450.2MAssets
$316.2MLoans
$314.7MDeposits
$39.3MEquity
Loan mix
94%RE $240.9M6%C&I $16.1M0%Consumer $0.1MQ4 2006Q4 2007
Deposit mix
89%Interest-bearing $279.2M11%Noninterest $35.5MQ4 2006Q4 2007

NIM

5.01%Q4 ’055.90%Q4 ’066.48%Q4 ’070%+6%

Non-interest income vs. expense

1.77%Q4 ’051.92%Q4 ’062.24%Q4 ’07+10%+13%

Executive Summary

  • Earnings: ROA of 0.48%, down 23 bps year over year; NIM at 2.93%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 100.47% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

0.48%-23 bps YoY

Net Interest Margin (YTD, annualized)

2.93%+17 bps YoY

Efficiency Ratio (YTD, annualized)

69.77%+441 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets0.71%-0.52%0.12%0.40%0.48%-23 bps
Return on Equity8.35%-6.01%1.44%4.56%5.50%-285 bps
Net Interest Margin2.76%2.75%2.90%2.93%2.93%+17 bps
Efficiency Ratio65.36%70.49%69.38%68.54%69.77%+441 bps
Non-Interest Burden1.74%1.86%1.93%1.92%1.96%+22 bps
Growth
Asset Growth (YoY)12.85%6.08%4.03%-2.19%-0.67%-1,351 bps
Loan Growth (YoY)13.71%12.46%13.29%9.84%13.04%-68 bps
Deposit Growth (YoY)18.17%6.84%3.21%1.03%-2.26%-2,043 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%-0.01%0.00%0.00%0.00%-1 bps
Allowance / Loans1.17%1.20%1.22%1.21%1.20%+3 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 Capital11.86%11.31%11.25%11.53%11.45%-41 bps
Equity / Assets8.60%8.63%8.65%8.90%8.74%+14 bps
Liquidity & Funding
Loans / Deposits86.87%90.61%92.03%94.84%100.47%+1,360 bps
Liquid Assets / Assets9.74%8.94%1.15%0.98%0.85%-889 bps
CRE / Total Capitaln/an/an/an/an/an/an/a