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Bank of Smithtown

Smithtown, NY · Cert 664

FDIC

Q3 2010

$2.3BAssets
$1.9BLoans
$1.8BDeposits
$113.1MEquity
Loan mix
97%RE $1.1B3%C&I $0.0B0%Consumer $0.0BQ3 2009Q3 2010
Deposit mix
92%Interest-bearing $1.7B8%Noninterest $0.1BQ3 2009Q3 2010

NIM

5.52%Q3 ’084.78%Q3 ’094.99%Q3 ’10-16%+19%

Non-interest income vs. expense

1.92%Q3 ’081.70%Q3 ’092.51%Q3 ’10+0%+55%

Executive Summary

  • Earnings: ROA of -3.36%, down 393 bps year over year; NIM at 3.22%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.30%.
  • Funding: loans stand at 105.38% of deposits as of Q3 2010.

Financial Results

Return on Assets (YTD, annualized)

-3.36%-393 bps YoY

Net Interest Margin (YTD, annualized)

3.22%+51 bps YoY

Efficiency Ratio (YTD, annualized)

68.49%+1,351 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets0.56%-0.44%-2.08%-3.37%-3.36%-393 bps
Return on Equity7.29%-5.92%-31.86%-53.66%-56.31%-6,360 bps
Net Interest Margin2.71%2.56%3.16%3.21%3.22%+51 bps
Efficiency Ratio54.97%61.98%59.68%66.25%68.49%+1,351 bps
Non-Interest Burden1.35%1.48%1.74%2.00%2.08%+74 bps
Growth
Asset Growth (YoY)57.89%41.19%11.81%-1.49%-14.66%-7,255 bps
Loan Growth (YoY)40.03%24.79%11.97%0.38%-8.50%-4,853 bps
Deposit Growth (YoY)75.66%51.70%12.13%2.22%-12.80%-8,846 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.08%1.13%2.40%3.33%3.30%+322 bps
Allowance / Loans1.10%1.83%2.51%2.93%3.59%+249 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 Capital11.20%10.37%9.96%9.31%8.59%-260 bps
Equity / Assets7.25%6.51%6.55%5.76%4.97%-228 bps
Liquidity & Funding
Loans / Deposits100.43%101.55%108.94%108.42%105.38%+495 bps
Liquid Assets / Assets0.67%0.03%2.14%0.88%3.08%+242 bps
CRE / Total Capitaln/an/an/an/an/an/an/a