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Valley Bank

Bristol, CT · Cert 35378

FDIC

Q3 2012

$729.0MAssets
$561.2MLoans
$586.4MDeposits
$75.0MEquity
Loan mix
78%RE $348.9M19%C&I $85.8M3%Consumer $12.2MQ3 2011Q3 2012
Deposit mix
88%Interest-bearing $516.0M12%Noninterest $70.4MQ3 2011Q3 2012

NIM

4.87%Q3 ’104.63%Q3 ’114.31%Q3 ’12+0%-3%

Non-interest income vs. expense

2.63%Q3 ’102.43%Q3 ’112.39%Q3 ’12-1%-4%

Executive Summary

  • Earnings: ROA of 0.66%, up 11 bps year over year; NIM at 3.14%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.42%.
  • Funding: loans stand at 95.69% of deposits as of Q3 2012.

Financial Results

Return on Assets (quarter, annualized)

0.66%+11 bps YoY

Net Interest Margin (quarter, annualized)

3.14%-8 bps YoY

Efficiency Ratio (quarter, annualized)

66.41%-36 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2011Q4 2011Q1 2012Q2 2012Q3 2012YoY ΔTrend
Earnings
Return on Assets0.56%0.95%0.66%0.73%0.66%+11 bps
Return on Equity5.61%9.68%6.71%7.30%6.54%+93 bps
Net Interest Margin3.23%3.17%3.18%3.17%3.14%-8 bps
Efficiency Ratio66.77%59.10%68.82%63.76%66.41%-36 bps
Non-Interest Burden2.09%1.51%2.13%1.94%2.00%-9 bps
Growth
Asset Growth (YoY)3.40%7.06%6.51%3.40%2.17%-122 bps
Loan Growth (YoY)4.50%5.36%4.82%5.97%3.02%-148 bps
Deposit Growth (YoY)6.38%8.45%7.74%4.39%2.86%-352 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.63%0.18%0.17%0.42%+40 bps
Allowance / Loans1.12%1.01%1.02%1.03%1.00%-12 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 Capital11.20%11.27%11.31%11.42%11.55%+35 bps
Equity / Assets9.71%9.84%9.95%10.06%10.28%+57 bps
Liquidity & Funding
Loans / Deposits95.54%95.13%95.20%95.65%95.69%+15 bps
Liquid Assets / Assets8.20%8.02%7.21%7.94%8.52%+33 bps
CRE / Total Capitaln/an/an/an/an/an/an/a