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Bank of Fairfield, The

Fairfield, CT · Cert 58880

FDIC

Q2 2013

$169.7MAssets
$150.0MLoans
$147.7MDeposits
$13.8MEquity
Loan mix
88%RE $82.9M12%C&I $11.3M0%Consumer $0.0MQ2 2012Q2 2013
Deposit mix
85%Interest-bearing $125.9M15%Noninterest $21.7MQ2 2012Q2 2013

NIM

5.03%Q2 ’114.65%Q2 ’124.30%Q2 ’13-7%-3%

Non-interest income vs. expense

4.39%Q2 ’113.45%Q2 ’123.20%Q2 ’13-16%-42%

Executive Summary

  • Earnings: ROA of 0.88%, up 74 bps year over year; NIM at 3.80%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 101.60% of deposits as of Q2 2013.

Financial Results

Return on Assets (quarter, annualized)

0.88%+74 bps YoY

Net Interest Margin (quarter, annualized)

3.80%-13 bps YoY

Efficiency Ratio (quarter, annualized)

63.74%-2,308 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2012Q3 2012Q4 2012Q1 2013Q2 2013YoY ΔTrend
Earnings
Return on Assets0.14%0.71%0.36%0.51%0.88%+74 bps
Return on Equity1.33%7.62%4.25%5.95%10.32%+899 bps
Net Interest Margin3.94%3.57%3.72%4.11%3.80%-13 bps
Efficiency Ratio86.82%79.91%77.30%75.00%63.74%-2,308 bps
Non-Interest Burden3.42%2.84%2.87%3.07%1.99%-143 bps
Growth
Asset Growth (YoY)23.66%37.62%38.01%28.46%32.62%+896 bps
Loan Growth (YoY)40.67%37.57%39.60%33.87%29.32%-1,135 bps
Deposit Growth (YoY)26.22%46.41%46.54%31.49%38.50%+1,227 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.55%1.47%1.42%1.40%1.46%-9 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 Capital13.59%12.80%12.05%11.99%11.56%-203 bps
Equity / Assets10.11%8.68%8.44%8.86%8.13%-198 bps
Liquidity & Funding
Loans / Deposits108.81%98.85%107.96%112.79%101.60%-721 bps
Liquid Assets / Assets2.59%9.76%6.25%0.86%6.64%+405 bps
CRE / Total Capitaln/an/an/an/an/an/an/a