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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 $2.9MQ3 2009Q2 2011
Deposit mix
93%Interest-bearing $1.9B7%Noninterest $0.1BQ3 2009Q2 2011

Executive Summary

  • Earnings: ROA of 0.05%, down 81 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 0.24%.
  • Funding: loans stand at 90.01% of deposits as of Q2 2011.

Return on Assets (YTD, annualized)

0.05%1-81 bps YoY

Net Interest Margin (YTD, annualized)

3.39%0 bps YoY

Efficiency Ratio (YTD, annualized)

89.25%+2,214 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

4.95%Q2 ’094.70%Q2 ’104.51%Q2 ’11+16%+0%

Non-interest income vs. expense

2.73%Q2 ’092.66%Q2 ’103.49%Q2 ’11-4%+38%

Year to date, annualized, through each quarter.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010Q4 2010Q1 2011Q2 2011YoY ΔTrend
Earnings
Return on Assets0.33%0.37%0.82%0.86%0.83%0.82%0.57%0.05%1-81 bps
Return on Equity3.26%3.74%8.75%9.24%8.97%9.13%6.72%0.63%-861 bps
Net Interest Margin2.90%2.95%3.73%3.39%3.28%3.16%3.29%3.39%0 bps
Efficiency Ratio79.87%79.19%68.33%67.11%67.37%66.25%75.61%89.25%+2,214 bps
Non-Interest Burden2.25%2.27%2.50%2.22%2.16%2.02%2.45%3.05%+83 bps
Growth
Asset Growth (YoY)18.24%11.62%40.93%39.56%38.72%47.23%12.61%2.72%-3,684 bps
Loan Growth (YoY)15.92%21.38%44.24%38.83%40.14%31.47%7.93%13.28%-2,555 bps
Deposit Growth (YoY)19.52%17.93%52.21%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%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.17%0.19%0.09%0.12%0.12%0.11%0.04%0.24%+12 bps
Allowance / Loans1.11%1.08%0.93%0.98%0.95%1.00%1.06%0.99%0 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital14.04%13.34%11.33%11.69%11.43%11.38%11.67%11.67%-3 bps
Equity / Assets9.74%9.57%9.16%9.23%9.07%8.25%8.58%9.12%-11 bps
Liquidity & Funding
Loans / Deposits87.21%96.97%85.71%82.57%83.21%83.03%82.89%90.01%+744 bps
Liquid Assets / Assets2.06%2.03%5.69%6.24%6.97%5.74%5.57%18.25%+1,201 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a