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Letter portraitLegal landscapeQuarterYTD

Bank of Southern Maryland

La Plata, MD · Cert 5863

FDIC

Q2 2004

$241.6MAssets
$125.6MLoans
$207.1MDeposits
$22.5MEquity
Loan mix
34%RE $17.6M65%C&I $33.8M1%Consumer $0.4MQ2 2003Q2 2004
Deposit mix
73%Interest-bearing $151.3M27%Noninterest $55.8MQ2 2003Q2 2004

NIM

5.88%Q2 ’025.45%Q2 ’034.96%Q2 ’04-3%-7%

Non-interest income vs. expense

1.93%Q2 ’021.92%Q2 ’031.94%Q2 ’04-29%+33%

Executive Summary

  • Earnings: ROA of 2.08%, down 43 bps year over year; NIM at 4.33%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 60.63% of deposits as of Q2 2004.

Financial Results

Return on Assets (YTD, annualized)

2.08%-43 bps YoY

Net Interest Margin (YTD, annualized)

4.33%-30 bps YoY

Efficiency Ratio (YTD, annualized)

37.76%+409 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets2.52%2.39%2.48%2.04%2.08%-43 bps
Return on Equity16.83%17.43%19.26%20.69%21.52%+469 bps
Net Interest Margin4.63%4.52%4.55%4.38%4.33%-30 bps
Efficiency Ratio33.67%34.85%35.62%38.10%37.76%+409 bps
Non-Interest Burden0.86%0.96%1.04%1.19%1.14%+28 bps
Growth
Asset Growth (YoY)5.45%2.95%7.82%2.85%2.29%-316 bps
Loan Growth (YoY)5.42%2.16%6.50%5.53%8.12%+269 bps
Deposit Growth (YoY)4.75%2.89%4.32%3.22%3.40%-134 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.02%0.01%0.03%-0.01%-0.01%-3 bps
Allowance / Loans2.44%2.42%1.75%1.73%1.72%-72 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 Capital26.91%26.39%25.69%25.36%24.81%-210 bps
Equity / Assets14.75%9.96%9.70%10.02%9.32%-543 bps
Liquidity & Funding
Loans / Deposits57.99%59.71%62.55%61.60%60.63%+264 bps
Liquid Assets / Assets0.23%0.24%0.18%0.56%0.97%+74 bps
CRE / Total Capitaln/an/an/an/an/an/an/a