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Interstate Net Bank

Cherry Hill, NJ · Cert 57107

FDIC

Q2 2010

$81.6MAssets
$63.6MLoans
$79.7MDeposits
$1.5MEquity
Deposit mix
99%Interest-bearing $78.8M1%Noninterest $0.8MQ2 2009Q2 2010

NIM

5.90%Q2 ’084.63%Q2 ’094.21%Q2 ’10-39%+48%

Non-interest income vs. expense

4.97%Q2 ’083.66%Q2 ’095.31%Q2 ’10-29%+59%

Executive Summary

  • Earnings: ROA of -4.50%, down 253 bps year over year; NIM at 1.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.11%.
  • Funding: loans stand at 79.87% of deposits as of Q2 2010.

Financial Results

Return on Assets (quarter, annualized)

-4.50%-253 bps YoY

Net Interest Margin (quarter, annualized)

1.83%+59 bps YoY

Efficiency Ratio (quarter, annualized)

267%+4,540 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets-1.97%-2.42%-2.59%-2.17%-4.50%-253 bps
Return on Equity-50.16%-66.53%-80.09%-74.80%-191.73%-14,156 bps
Net Interest Margin1.24%1.49%1.13%1.69%1.83%+59 bps
Efficiency Ratio222%244%452%234%267%+4,540 bps
Non-Interest Burden3.25%3.94%4.09%3.87%5.16%+191 bps
Growth
Asset Growth (YoY)-26.41%-25.87%-29.92%-27.87%-23.90%+251 bps
Loan Growth (YoY)-23.58%-22.42%-23.24%-27.89%-24.48%-90 bps
Deposit Growth (YoY)-23.23%-23.74%-29.08%-26.79%-22.33%+91 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.62%0.69%0.44%26.29%0.11%+72 bps
Allowance / Loans7.55%7.63%8.27%2.59%3.08%-447 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 Capital6.66%5.98%5.53%4.90%3.54%-312 bps
Equity / Assets3.82%3.45%2.99%2.80%1.88%-194 bps
Liquidity & Funding
Loans / Deposits82.16%82.39%85.21%82.24%79.87%-228 bps
Liquid Assets / Assets2.27%2.34%0.35%0.61%0.63%-164 bps
CRE / Total Capitaln/an/an/an/an/an/an/a