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USA Bank

Portchester, NY · Cert 58072

FDIC

Q2 2010

$190.7MAssets
$152.8MLoans
$188.6MDeposits
$1.1MEquity
Loan mix
92%RE $119.5M8%C&I $10.2M0%Consumer $0.5MQ2 2009Q2 2010
Deposit mix
97%Interest-bearing $182.9M3%Noninterest $5.8MQ2 2009Q2 2010

NIM

6.59%Q2 ’085.64%Q2 ’094.39%Q2 ’10-22%-17%

Non-interest income vs. expense

3.96%Q2 ’083.58%Q2 ’096.31%Q2 ’10-8%+79%

Executive Summary

  • Earnings: ROA of -4.49%, down 10 bps year over year; NIM at 1.83%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.16%.
  • Funding: loans stand at 81.01% of deposits as of Q2 2010.

Financial Results

Return on Assets (YTD, annualized)

-4.49%-10 bps YoY

Net Interest Margin (YTD, annualized)

1.83%-37 bps YoY

Efficiency Ratio (YTD, annualized)

321%+16,805 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets-4.40%-5.39%-6.09%-5.14%-4.49%-10 bps
Return on Equity-62.68%-84.89%-109.71%-272%-303%-24,070 bps
Net Interest Margin2.21%2.17%1.87%1.87%1.83%-37 bps
Efficiency Ratio153.14%150.82%175.23%377%321%+16,805 bps
Non-Interest Burden3.45%3.36%3.38%7.42%6.18%+273 bps
Growth
Asset Growth (YoY)17.07%14.03%5.52%-10.16%-16.33%-3,340 bps
Loan Growth (YoY)11.22%11.57%8.25%2.04%-9.45%-2,067 bps
Deposit Growth (YoY)27.09%24.56%13.25%8.24%-0.37%-2,746 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.05%-0.04%3.73%-0.37%-0.16%-10 bps
Allowance / Loans2.04%4.17%2.33%2.56%2.80%+76 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 Capital9.51%7.48%5.00%3.47%2.24%-727 bps
Equity / Assets6.25%4.41%2.38%1.32%0.59%-565 bps
Liquidity & Funding
Loans / Deposits89.13%90.79%86.18%85.63%81.01%-812 bps
Liquid Assets / Assets0.42%0.38%0.36%0.36%0.33%-9 bps
CRE / Total Capitaln/an/an/an/an/an/an/a