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Letter portraitLegal landscapeQuarterYTD

Bank of Avoca

Avoca, NY · Cert 581

FDIC

Q1 2002

$18.1MAssets
$10.6MLoans
$16.8MDeposits
$1.4MEquity
Loan mix
89%RE $6.3M9%C&I $0.7M2%Consumer $0.1MQ1 2001Q1 2002
Deposit mix
85%Interest-bearing $14.3M15%Noninterest $2.5MQ1 2001Q1 2002

NIM

7.31%Q1 ’015.63%Q1 ’02-15%

Non-interest income vs. expense

5.04%Q1 ’014.57%Q1 ’02+4%

Executive Summary

  • Earnings: ROA of -1.24%, down 110 bps year over year; NIM at 3.31%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.15%.
  • Funding: loans stand at 63.22% of deposits as of Q1 2002.

Financial Results

Return on Assets (YTD, annualized)

-1.24%-110 bps YoY

Net Interest Margin (YTD, annualized)

3.31%-58 bps YoY

Efficiency Ratio (YTD, annualized)

120.35%+1,943 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2001Q2 2001Q3 2001Q4 2001Q1 2002YoY ΔTrend
Earnings
Return on Assets-0.14%-0.34%-0.42%-0.47%-1.24%-110 bps
Return on Equityn/an/an/an/a-16.20%n/an/a
Net Interest Margin3.90%3.59%3.61%3.53%3.31%-58 bps
Efficiency Ratio100.92%105.91%107.88%108.89%120.35%+1,943 bps
Non-Interest Burden3.94%3.85%3.94%3.89%4.09%+15 bps
Growth
Asset Growth (YoY)0.11%2.50%6.76%3.77%2.02%+191 bps
Loan Growth (YoY)-9.53%-3.86%-1.18%5.44%1.16%+1,069 bps
Deposit Growth (YoY)0.00%2.68%7.31%4.51%3.56%+356 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.04%-0.06%0.19%0.16%0.15%+19 bps
Allowance / Loans0.89%0.90%0.79%0.81%0.95%+7 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 Capital18.69%17.64%17.49%16.44%16.17%-252 bps
Equity / Assets8.69%8.33%8.26%7.90%7.44%-125 bps
Liquidity & Funding
Loans / Deposits64.72%65.22%63.50%66.89%63.22%-150 bps
Liquid Assets / Assets8.00%6.98%4.86%5.09%4.88%-312 bps
CRE / Total Capitaln/an/an/an/an/an/an/a