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Danvers Savings Bank

Danvers, MA · Cert 90185

FDIC

Q2 2011

$2.6BAssets
$1.9BLoans
$2.1BDeposits
$235.5MEquity
Loan mix
66%RE $853.4M34%C&I $443.3M0%Consumer $2.9MQ2 2010Q2 2011
Deposit mix
93%Interest-bearing $1.9B7%Noninterest $0.1BQ2 2010Q2 2011

NIM

5.01%Q2 ’094.73%Q2 ’104.42%Q2 ’11+14%-2%

Non-interest income vs. expense

2.88%Q2 ’092.64%Q2 ’103.96%Q2 ’11-12%+62%

Executive Summary

  • Earnings: ROA of -0.48%, down 135 bps year over year; NIM at 3.33%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.44%.
  • Funding: loans stand at 90.01% of deposits as of Q2 2011.

Financial Results

Return on Assets (quarter, annualized)

-0.48%-135 bps YoY

Net Interest Margin (quarter, annualized)

3.33%-8 bps YoY

Efficiency Ratio (quarter, annualized)

103.40%+3,748 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2010Q3 2010Q4 2010Q1 2011Q2 2011YoY ΔTrend
Earnings
Return on Assets0.87%0.76%0.81%0.57%-0.48%-135 bps
Return on Equity9.47%8.34%9.40%6.72%-5.44%-1,491 bps
Net Interest Margin3.41%3.27%3.36%3.29%3.33%-8 bps
Efficiency Ratio65.92%67.88%63.27%75.61%103.40%+3,748 bps
Non-Interest Burden2.18%2.17%2.00%2.45%3.53%+135 bps
Growth
Asset Growth (YoY)39.56%38.72%47.23%12.61%2.72%-3,684 bps
Loan Growth (YoY)38.83%40.14%31.47%7.93%13.28%-2,555 bps
Deposit Growth (YoY)47.31%46.88%53.55%11.60%3.92%-4,339 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.14%0.15%0.08%0.04%0.44%+30 bps
Allowance / Loans0.98%0.95%1.00%1.06%0.99%0 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 Capital11.69%11.43%11.38%11.67%11.67%-3 bps
Equity / Assets9.23%9.07%8.25%8.58%9.12%-11 bps
Liquidity & Funding
Loans / Deposits82.57%83.21%83.03%82.89%90.01%+744 bps
Liquid Assets / Assets6.24%6.97%5.74%5.57%18.25%+1,201 bps
CRE / Total Capitaln/an/an/an/an/an/an/a