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Foxborough Savings Bank

Foxborough, MA · Cert 90198

FDIC

Q1 2004

$249.6MAssets
$169.0MLoans
$213.1MDeposits
$28.5MEquity
Loan mix
94%RE $108.5M6%C&I $7.0M0%Consumer $0.1MQ1 2003Q1 2004
Deposit mix
92%Interest-bearing $195.7M8%Noninterest $17.4MQ1 2003Q1 2004

NIM

7.28%Q1 ’026.22%Q1 ’035.65%Q1 ’04-8%-6%

Non-interest income vs. expense

2.17%Q1 ’022.14%Q1 ’032.95%Q1 ’04-17%+85%

Executive Summary

  • Earnings: ROA of 1.34%, up 104 bps year over year; NIM at 4.59%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.02%.
  • Funding: loans stand at 79.31% of deposits as of Q1 2004.

Financial Results

Return on Assets (YTD, annualized)

1.34%+104 bps YoY

Net Interest Margin (YTD, annualized)

4.59%-27 bps YoY

Efficiency Ratio (YTD, annualized)

59.73%+2,148 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2003Q2 2003Q3 2003Q4 2003Q1 2004YoY ΔTrend
Earnings
Return on Assets0.30%1.57%1.66%0.66%1.34%+104 bps
Return on Equity2.38%12.39%13.15%5.40%11.91%+953 bps
Net Interest Margin4.86%4.67%4.62%4.37%4.59%-27 bps
Efficiency Ratio38.25%40.56%40.62%73.82%59.73%+2,148 bps
Non-Interest Burden1.40%1.45%1.51%3.06%2.60%+119 bps
Growth
Asset Growth (YoY)2.69%1.24%9.79%11.81%10.12%+743 bps
Loan Growth (YoY)-12.05%-14.50%-7.81%1.15%9.38%+2,143 bps
Deposit Growth (YoY)5.28%5.23%12.04%13.78%9.52%+424 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.04%0.01%0.01%-0.02%-2 bps
Allowance / Loans0.60%0.60%0.60%0.59%0.56%-4 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 Capital21.42%22.12%23.00%20.60%20.64%-78 bps
Equity / Assets12.37%13.02%12.45%11.09%11.41%-96 bps
Liquidity & Funding
Loans / Deposits79.41%76.45%73.15%74.34%79.31%-11 bps
Liquid Assets / Assets4.02%1.56%1.06%2.24%2.29%-174 bps
CRE / Total Capitaln/an/an/an/an/an/an/a