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Benjamin Franklin Savings Bank

Franklin, MA · Cert 90200

FDIC

Q1 2009

$998.8MAssets
$691.2MLoans
$695.4MDeposits
$99.5MEquity
Loan mix
92%RE $507.1M8%C&I $44.1M0%Consumer $0.4MQ1 2008Q1 2009
Deposit mix
83%Interest-bearing $579.4M17%Noninterest $116.0MQ1 2008Q1 2009

NIM

5.33%Q1 ’075.34%Q1 ’084.75%Q1 ’09+2%+1%

Non-interest income vs. expense

2.92%Q1 ’072.47%Q1 ’083.39%Q1 ’09-11%+50%

Executive Summary

  • Earnings: ROA of -0.56%, down 101 bps year over year; NIM at 2.79%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.25%.
  • Funding: loans stand at 99.40% of deposits as of Q1 2009.

Financial Results

Return on Assets (quarter, annualized)

-0.56%-101 bps YoY

Net Interest Margin (quarter, annualized)

2.79%+4 bps YoY

Efficiency Ratio (quarter, annualized)

101.67%+2,876 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2008Q2 2008Q3 2008Q4 2008Q1 2009YoY ΔTrend
Earnings
Return on Assets0.45%0.46%0.48%0.05%-0.56%-101 bps
Return on Equity4.24%4.53%4.77%0.46%-5.52%-976 bps
Net Interest Margin2.75%2.69%2.81%2.98%2.79%+4 bps
Efficiency Ratio72.91%72.62%71.93%80.21%101.67%+2,876 bps
Non-Interest Burden1.93%1.87%1.94%2.35%2.89%+96 bps
Growth
Asset Growth (YoY)7.72%7.79%7.92%10.52%3.98%-374 bps
Loan Growth (YoY)7.99%11.24%13.55%13.71%7.02%-97 bps
Deposit Growth (YoY)-0.06%1.13%3.35%5.67%6.77%+684 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.02%0.01%0.05%0.25%+24 bps
Allowance / Loans0.94%0.96%1.01%1.14%1.41%+47 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 Capital10.47%10.51%10.55%10.51%10.07%-40 bps
Equity / Assets10.35%10.16%10.03%10.16%9.96%-39 bps
Liquidity & Funding
Loans / Deposits99.16%101.39%101.79%105.92%99.40%+23 bps
Liquid Assets / Assets0.03%0.01%0.03%0.11%2.54%+252 bps
CRE / Total Capitaln/an/an/an/an/an/an/a