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Letter portraitLegal landscapeQuarterYTD

Towne Center Bank, The

Lodi, NJ · Cert 35240

FDIC

Q3 2004

$45.6MAssets
$41.9MLoans
$30.1MDeposits
$9.2MEquity
Loan mix
66%RE $11.2M34%C&I $5.6M0%Consumer $0.0MQ3 2003Q3 2004
Deposit mix
66%Interest-bearing $19.9M34%Noninterest $10.2MQ3 2003Q3 2004

NIM

6.40%Q3 ’026.37%Q3 ’036.41%Q3 ’04+13%+7%

Non-interest income vs. expense

4.04%Q3 ’024.54%Q3 ’034.70%Q3 ’04+4%+13%

Executive Summary

  • Earnings: ROA of 0.72%, down 7 bps year over year; NIM at 5.62%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 139.55% of deposits as of Q3 2004.

Financial Results

Return on Assets (quarter, annualized)

0.72%-7 bps YoY

Net Interest Margin (quarter, annualized)

5.62%+37 bps YoY

Efficiency Ratio (quarter, annualized)

78.63%+220 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2003Q4 2003Q1 2004Q2 2004Q3 2004YoY ΔTrend
Earnings
Return on Assets0.78%0.93%0.72%1.05%0.72%-7 bps
Return on Equity4.09%4.87%3.70%5.32%3.57%-52 bps
Net Interest Margin5.25%6.04%5.71%5.73%5.62%+37 bps
Efficiency Ratio76.44%77.23%76.54%67.84%78.63%+220 bps
Non-Interest Burden3.85%4.70%4.32%3.83%4.34%+49 bps
Growth
Asset Growth (YoY)4.58%8.05%-3.97%0.23%-1.28%-585 bps
Loan Growth (YoY)8.96%10.00%3.65%5.34%5.41%-355 bps
Deposit Growth (YoY)5.17%1.45%-15.70%-21.33%-18.87%-2,404 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 / Loans1.12%1.05%1.12%1.16%1.18%+6 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 Capital25.73%24.36%24.66%24.52%24.78%-94 bps
Equity / Assets19.08%19.13%19.67%19.86%20.19%+112 bps
Liquidity & Funding
Loans / Deposits107.40%121.58%127.09%144.29%139.55%+3,214 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a