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Shorebank, Cleveland

Cleveland, OH · Cert 753

FDIC

Q2 2005

$65.4MAssets
$33.0MLoans
$50.9MDeposits
$7.0MEquity
Deposit mix
97%Interest-bearing $49.5M3%Noninterest $1.3MQ2 2004Q2 2005

NIM

5.88%Q2 ’035.28%Q2 ’045.57%Q2 ’05-7%-9%

Non-interest income vs. expense

3.77%Q2 ’033.46%Q2 ’043.58%Q2 ’05-10%-23%

Executive Summary

  • Earnings: ROA of -0.08%, down 10 bps year over year; NIM at 3.39%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.49%.
  • Funding: loans stand at 64.96% of deposits as of Q2 2005.

Financial Results

Return on Assets (quarter, annualized)

-0.08%-10 bps YoY

Net Interest Margin (quarter, annualized)

3.39%-34 bps YoY

Efficiency Ratio (quarter, annualized)

82.40%-890 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2004Q3 2004Q4 2004Q1 2005Q2 2005YoY ΔTrend
Earnings
Return on Assets0.01%0.61%-0.51%0.10%-0.08%-10 bps
Return on Equity0.12%6.33%-5.01%1.01%-0.82%-94 bps
Net Interest Margin3.73%3.44%3.21%3.13%3.39%-34 bps
Efficiency Ratio91.30%74.20%100.00%88.77%82.40%-890 bps
Non-Interest Burden3.40%2.30%3.21%2.70%2.63%-77 bps
Growth
Asset Growth (YoY)6.28%5.46%4.60%1.16%-4.21%-1,049 bps
Loan Growth (YoY)10.13%11.66%3.76%3.94%0.44%-969 bps
Deposit Growth (YoY)1.03%-0.21%-3.86%-5.58%-5.86%-688 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.35%0.58%2.31%0.71%1.49%+114 bps
Allowance / Loans1.99%1.94%1.83%1.83%1.83%-16 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 Capital19.60%19.86%20.03%19.18%20.64%+103 bps
Equity / Assets9.20%10.20%10.15%9.66%10.74%+154 bps
Liquidity & Funding
Loans / Deposits60.89%61.28%61.49%61.65%64.96%+408 bps
Liquid Assets / Assets0.12%0.09%0.03%0.05%0.02%-10 bps
CRE / Total Capitaln/an/an/an/an/an/an/a