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Metropolitan Savings Bank

Pittsburgh, PA · Cert 35353

FDIC

Q3 2006

$15.8MAssets
$13.0MLoans
$14.5MDeposits
$1.1MEquity
Deposit mix
99%Interest-bearing $14.5M1%Noninterest $0.1MQ3 2005Q3 2006

NIM

5.84%Q3 ’047.50%Q3 ’054.86%Q3 ’06+20%-46%

Non-interest income vs. expense

2.06%Q3 ’042.07%Q3 ’052.53%Q3 ’06+5%+24%

Executive Summary

  • Earnings: ROA of -0.18%, down 149 bps year over year; NIM at 2.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 89.13% of deposits as of Q3 2006.

Financial Results

Return on Assets (quarter, annualized)

-0.18%-149 bps YoY

Net Interest Margin (quarter, annualized)

2.39%-208 bps YoY

Efficiency Ratio (quarter, annualized)

101.09%+5,603 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets1.30%1.06%0.36%0.28%-0.18%-149 bps
Return on Equity17.54%13.93%4.66%3.55%-2.48%-2,002 bps
Net Interest Margin4.47%2.10%2.38%2.91%2.39%-208 bps
Efficiency Ratio45.06%93.98%84.62%89.29%101.09%+5,603 bps
Non-Interest Burden1.95%1.96%1.99%2.58%2.42%+47 bps
Growth
Asset Growth (YoY)3.53%8.93%-0.13%3.52%10.89%+736 bps
Loan Growth (YoY)17.25%12.01%2.89%-0.67%-0.45%-1,769 bps
Deposit Growth (YoY)2.11%8.59%-1.58%2.55%11.45%+934 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 / Loans0.52%0.53%0.54%0.56%0.60%+8 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 Capital14.44%14.38%15.26%16.11%15.43%+99 bps
Equity / Assets7.54%7.68%7.92%7.79%7.14%-40 bps
Liquidity & Funding
Loans / Deposits99.79%98.79%100.91%98.12%89.13%-1,065 bps
Liquid Assets / Assets1.53%1.50%1.57%2.22%1.78%+26 bps
CRE / Total Capitaln/an/an/an/an/an/an/a