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Ipswich Savings Bank

Ipswich, MA · Cert 90216

FDIC

Q2 2002

$323.5MAssets
$193.9MLoans
$254.6MDeposits
$19.3MEquity
Loan mix
99%RE $180.6M1%C&I $1.0M0%Consumer $0.1MQ2 2001Q2 2002
Deposit mix
88%Interest-bearing $224.5M12%Noninterest $30.1MQ2 2001Q2 2002

NIM

7.00%Q1 ’016.78%Q2 ’015.75%Q2 ’020%+8%

Non-interest income vs. expense

2.45%Q1 ’012.58%Q2 ’012.79%Q2 ’02+6%+7%

Executive Summary

  • Earnings: ROA of 0.82%, down 13 bps year over year; NIM at 3.41%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.03%.
  • Funding: loans stand at 76.16% of deposits as of Q2 2002.

Financial Results

Return on Assets (YTD, annualized)

0.82%-13 bps YoY

Net Interest Margin (YTD, annualized)

3.41%+27 bps YoY

Efficiency Ratio (YTD, annualized)

64.83%-41 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets0.95%1.02%1.02%0.73%0.82%-13 bps
Return on Equityn/an/an/a13.13%14.45%n/a
Net Interest Margin3.15%3.20%3.17%3.46%3.41%+27 bps
Efficiency Ratio65.24%63.00%63.17%67.02%64.83%-41 bps
Non-Interest Burden1.77%1.70%1.69%1.95%1.90%+13 bps
Growth
Asset Growth (YoY)1.30%5.19%11.52%11.11%8.39%+708 bps
Loan Growth (YoY)2.32%3.95%5.97%-4.60%-7.64%-996 bps
Deposit Growth (YoY)9.13%9.33%5.63%5.02%3.03%-610 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.10%-0.11%-0.10%0.01%0.03%+13 bps
Allowance / Loans0.94%0.96%0.97%1.08%1.12%+18 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 Capital10.69%10.94%11.05%11.89%12.44%+175 bps
Equity / Assets5.35%5.65%5.52%5.55%5.96%+62 bps
Liquidity & Funding
Loans / Deposits84.95%85.77%86.61%77.72%76.16%-879 bps
Liquid Assets / Assets10.46%9.78%11.10%10.47%10.11%-34 bps
CRE / Total Capitaln/an/an/an/an/an/an/a