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Greater Buffalo Savings Bank

Buffalo, NY · Cert 35185

FDIC

Q4 2007

$818.8MAssets
$549.0MLoans
$650.2MDeposits
$47.3MEquity
Loan mix
85%RE $378.8M15%C&I $68.8M0%Consumer $0.2MQ4 2006Q4 2007
Deposit mix
92%Interest-bearing $596.2M8%Noninterest $53.9MQ4 2006Q4 2007

NIM

4.73%Q4 ’055.30%Q4 ’065.42%Q4 ’07+1%+2%

Non-interest income vs. expense

1.62%Q4 ’052.47%Q4 ’062.34%Q4 ’07+43%-13%

Executive Summary

  • Earnings: ROA of -0.12%, up 28 bps year over year; NIM at 1.84%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.12%.
  • Funding: loans stand at 84.43% of deposits as of Q4 2007.

Financial Results

Return on Assets (quarter, annualized)

-0.12%+28 bps YoY

Net Interest Margin (quarter, annualized)

1.84%+4 bps YoY

Efficiency Ratio (quarter, annualized)

103.41%-1,621 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets-0.40%-0.23%-0.01%-0.68%-0.12%+28 bps
Return on Equity-6.92%-3.88%-0.16%-11.36%-2.06%+487 bps
Net Interest Margin1.79%1.84%1.91%1.83%1.84%+4 bps
Efficiency Ratio119.63%111.03%109.84%141.80%103.41%-1,621 bps
Non-Interest Burden2.20%2.08%2.15%2.79%1.91%-28 bps
Growth
Asset Growth (YoY)4.08%3.67%-6.31%4.45%1.69%-239 bps
Loan Growth (YoY)25.51%21.85%12.53%11.84%6.10%-1,941 bps
Deposit Growth (YoY)7.02%2.45%-5.14%-2.72%-2.26%-927 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%0.07%0.44%0.29%0.12%+9 bps
Allowance / Loans0.73%0.73%0.56%0.53%0.56%-17 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 Capital10.83%11.17%11.02%10.06%9.98%-85 bps
Equity / Assets5.61%6.09%6.08%5.82%5.77%+16 bps
Liquidity & Funding
Loans / Deposits77.79%81.85%80.02%83.42%84.43%+665 bps
Liquid Assets / Assets2.04%1.97%2.11%1.96%2.68%+64 bps
CRE / Total Capitaln/an/an/an/an/an/an/a