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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 ’016.65%Q2 ’015.71%Q2 ’02+1%+7%

Non-interest income vs. expense

2.45%Q1 ’012.74%Q2 ’012.54%Q2 ’02+13%-1%

Executive Summary

  • Earnings: ROA of 0.91%, down 5 bps year over year; NIM at 3.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 76.16% of deposits as of Q2 2002.

Financial Results

Return on Assets (quarter, annualized)

0.91%-5 bps YoY

Net Interest Margin (quarter, annualized)

3.40%+21 bps YoY

Efficiency Ratio (quarter, annualized)

62.39%-553 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets0.97%1.15%1.04%0.73%0.91%-5 bps
Return on Equity18.11%20.92%18.70%13.13%15.84%-227 bps
Net Interest Margin3.18%3.48%3.50%3.46%3.40%+21 bps
Efficiency Ratio67.92%59.11%63.60%67.02%62.39%-553 bps
Non-Interest Burden1.89%1.67%1.86%1.95%1.87%-3 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-0.26%-0.12%-0.08%0.01%0.04%+30 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