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Commonwealth National Bank

Worcester, MA · Cert 57201

FDIC

Q3 2009

$285.9MAssets
$238.3MLoans
$196.2MDeposits
$25.3MEquity
Loan mix
79%RE $145.4M21%C&I $38.9M0%Consumer $0.0MQ3 2008Q3 2009
Deposit mix
86%Interest-bearing $167.9M14%Noninterest $28.4MQ3 2008Q3 2009

NIM

6.48%Q3 ’075.93%Q3 ’085.61%Q3 ’09+13%+10%

Non-interest income vs. expense

2.82%Q3 ’072.90%Q3 ’083.47%Q3 ’09+3%+21%

Executive Summary

  • Earnings: ROA of -0.01%, up 98 bps year over year; NIM at 3.71%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.29%.
  • Funding: loans stand at 121.43% of deposits as of Q3 2009.

Financial Results

Return on Assets (YTD, annualized)

-0.01%+98 bps YoY

Net Interest Margin (YTD, annualized)

3.71%+34 bps YoY

Efficiency Ratio (YTD, annualized)

89.68%+749 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2008Q4 2008Q1 2009Q2 2009Q3 2009YoY ΔTrend
Earnings
Return on Assets-0.98%-0.41%0.21%0.16%-0.01%+98 bps
Return on Equity-11.46%-4.76%2.55%1.86%-0.06%+1,139 bps
Net Interest Margin3.37%3.42%3.48%3.66%3.71%+34 bps
Efficiency Ratio82.18%80.80%86.89%91.40%89.68%+749 bps
Non-Interest Burden2.74%2.74%3.00%3.33%3.31%+57 bps
Growth
Asset Growth (YoY)-0.99%1.99%2.87%-8.82%-3.91%-292 bps
Loan Growth (YoY)9.67%11.54%9.34%5.56%0.41%-926 bps
Deposit Growth (YoY)-6.49%-2.97%3.48%-13.41%-3.00%+349 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%0.55%0.07%0.03%0.29%-1 bps
Allowance / Loans1.21%1.19%1.23%1.30%1.45%+24 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 Capital11.37%11.14%11.24%11.47%11.28%-9 bps
Equity / Assets7.94%8.39%8.46%8.83%8.85%+91 bps
Liquidity & Funding
Loans / Deposits117.31%121.96%118.38%127.88%121.43%+413 bps
Liquid Assets / Assets3.04%3.01%2.91%3.20%4.36%+133 bps
CRE / Total Capitaln/an/an/an/an/an/an/a