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Factory Point National Bank of Manchester Center, The

Manchester Center, VT · Cert 6274

FDIC

Q2 2007

$336.1MAssets
$236.0MLoans
$262.0MDeposits
$29.3MEquity
Loan mix
83%RE $176.9M16%C&I $35.0M0%Consumer $1.0MQ2 2006Q2 2007
Deposit mix
83%Interest-bearing $216.9M17%Noninterest $45.1MQ2 2006Q2 2007

NIM

5.20%Q2 ’056.06%Q2 ’066.30%Q2 ’07-3%-3%

Non-interest income vs. expense

3.12%Q2 ’053.00%Q2 ’063.09%Q2 ’07+22%-3%

Executive Summary

  • Earnings: ROA of 1.37%, up 9 bps year over year; NIM at 3.88%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 90.08% of deposits as of Q2 2007.

Financial Results

Return on Assets (quarter, annualized)

1.37%+9 bps YoY

Net Interest Margin (quarter, annualized)

3.88%-14 bps YoY

Efficiency Ratio (quarter, annualized)

62.44%+147 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets1.28%1.37%1.48%1.34%1.37%+9 bps
Return on Equity15.66%16.70%17.62%15.72%15.77%+11 bps
Net Interest Margin4.02%3.92%3.98%3.78%3.88%-14 bps
Efficiency Ratio60.97%61.92%60.13%63.45%62.44%+147 bps
Non-Interest Burden2.10%2.09%1.98%2.02%2.02%-7 bps
Growth
Asset Growth (YoY)5.91%4.61%6.57%3.39%2.77%-313 bps
Loan Growth (YoY)4.17%7.93%9.32%7.27%8.36%+419 bps
Deposit Growth (YoY)-6.01%-1.75%0.44%4.32%3.58%+959 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.11%-0.17%0.09%0.02%0.02%+13 bps
Allowance / Loans1.88%1.84%1.79%1.80%1.74%-13 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 Capital12.97%12.81%12.95%13.23%13.05%+8 bps
Equity / Assets8.13%8.32%8.44%8.64%8.73%+60 bps
Liquidity & Funding
Loans / Deposits86.10%83.68%84.81%82.92%90.08%+397 bps
Liquid Assets / Assets0.05%0.03%0.04%0.02%0.01%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a