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City Savings Bank

Pittsfield, MA · Cert 90265

FDIC

Q2 2011

$879.1MAssets
$588.1MLoans
$660.9MDeposits
$102.4MEquity
Loan mix
93%RE $434.2M6%C&I $30.0M1%Consumer $2.5MQ2 2010Q2 2011
Deposit mix
88%Interest-bearing $582.6M12%Noninterest $78.4MQ2 2010Q2 2011

NIM

4.86%Q2 ’094.50%Q2 ’104.06%Q2 ’11+1%-2%

Non-interest income vs. expense

3.11%Q2 ’093.14%Q2 ’103.00%Q2 ’11+5%-28%

Executive Summary

  • Earnings: ROA of 0.62%, up 120 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 0.03%.
  • Funding: loans stand at 88.98% of deposits as of Q2 2011.

Financial Results

Return on Assets (quarter, annualized)

0.62%+120 bps YoY

Net Interest Margin (quarter, annualized)

2.79%-6 bps YoY

Efficiency Ratio (quarter, annualized)

74.13%-1,648 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2010Q3 2010Q4 2010Q1 2011Q2 2011YoY ΔTrend
Earnings
Return on Assets-0.59%-0.29%-1.93%0.36%0.62%+120 bps
Return on Equity-6.00%-3.06%-19.73%3.56%5.63%+1,163 bps
Net Interest Margin2.85%2.80%2.69%2.73%2.79%-6 bps
Efficiency Ratio90.61%91.85%160.40%79.62%74.13%-1,648 bps
Non-Interest Burden2.61%2.62%4.81%2.16%1.87%-74 bps
Growth
Asset Growth (YoY)0.78%2.12%-2.28%-3.44%-6.06%-684 bps
Loan Growth (YoY)-3.48%-1.73%-6.69%-7.16%-10.50%-701 bps
Deposit Growth (YoY)6.09%7.20%5.22%2.27%-2.24%-833 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.45%1.38%1.60%0.24%0.03%-142 bps
Allowance / Loans1.44%1.43%1.45%1.44%1.47%+3 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 Capital11.61%11.54%11.99%12.55%14.69%+309 bps
Equity / Assets9.66%9.40%10.13%10.33%11.65%+199 bps
Liquidity & Funding
Loans / Deposits97.19%94.19%90.30%88.84%88.98%-821 bps
Liquid Assets / Assets1.65%1.30%1.34%1.21%2.81%+115 bps
CRE / Total Capitaln/an/an/an/an/an/an/a