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Waterford Village Bank

Williamsville, NY · Cert 58065

FDIC

Q2 2009

$55.7MAssets
$43.1MLoans
$56.1MDeposits
$-685KEquity
Loan mix
89%RE $30.8M8%C&I $2.7M3%Consumer $1.1MQ2 2008Q2 2009
Deposit mix
97%Interest-bearing $54.3M3%Noninterest $1.9MQ2 2008Q2 2009

NIM

4.83%Q2 ’074.08%Q2 ’083.94%Q2 ’09-71%+48%

Non-interest income vs. expense

16.65%Q2 ’077.04%Q2 ’089.25%Q2 ’09-58%+30%

Executive Summary

  • Earnings: ROA of -9.47%, down 525 bps year over year; NIM at 0.95%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.38%.
  • Funding: loans stand at 76.69% of deposits as of Q2 2009.

Financial Results

Return on Assets (quarter, annualized)

-9.47%-525 bps YoY

Net Interest Margin (quarter, annualized)

0.95%+31 bps YoY

Efficiency Ratio (quarter, annualized)

879%-18,265 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2008Q3 2008Q4 2008Q1 2009Q2 2009YoY ΔTrend
Earnings
Return on Assets-4.21%-3.67%-24.54%-3.34%-9.47%-525 bps
Return on Equity-43.89%-43.59%-482%-213%90267%+9,031,056 bps
Net Interest Margin0.64%1.27%1.49%1.37%0.95%+31 bps
Efficiency Ratio1061%496%485%317%879%-18,265 bps
Non-Interest Burden7.02%6.49%8.15%4.58%9.14%+213 bps
Growth
Asset Growth (YoY)194.72%70.31%48.36%10.83%-12.64%-20,736 bps
Loan Growth (YoY)639%421%190.14%111.97%37.66%-60,162 bps
Deposit Growth (YoY)307%96.31%71.29%23.18%-3.65%-31,096 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.89%0.00%2.38%+238 bps
Allowance / Loans0.98%1.03%1.07%1.09%0.98%-1 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 Capital10.88%6.93%3.72%2.42%-1.75%-1,263 bps
Equity / Assets8.30%8.58%1.99%1.15%-1.23%-953 bps
Liquidity & Funding
Loans / Deposits53.68%79.47%76.45%82.81%76.69%+2,301 bps
Liquid Assets / Assets4.87%0.00%0.00%0.00%0.00%-487 bps
CRE / Total Capitaln/an/an/an/an/an/an/a