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Westborough Bank, The

Westborough, MA · Cert 90299

FDIC

Q2 2007

$297.1MAssets
$206.2MLoans
$213.1MDeposits
$27.0MEquity
Deposit mix
75%Interest-bearing $159.3M25%Noninterest $53.8MQ2 2006Q2 2007

NIM

4.56%Q2 ’054.80%Q2 ’065.16%Q2 ’07-14%-5%

Non-interest income vs. expense

3.03%Q2 ’052.40%Q2 ’062.79%Q2 ’07-17%+18%

Executive Summary

  • Earnings: ROA of -0.02%, down 31 bps year over year; NIM at 2.33%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 96.77% of deposits as of Q2 2007.

Financial Results

Return on Assets (quarter, annualized)

-0.02%-31 bps YoY

Net Interest Margin (quarter, annualized)

2.33%-13 bps YoY

Efficiency Ratio (quarter, annualized)

107.89%+1,966 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2006Q3 2006Q4 2006Q1 2007Q2 2007YoY ΔTrend
Earnings
Return on Assets0.28%0.02%-0.28%-0.39%-0.02%-31 bps
Return on Equity3.07%0.20%-2.98%-4.22%-0.24%-331 bps
Net Interest Margin2.46%2.48%2.31%2.39%2.33%-13 bps
Efficiency Ratio88.23%103.15%113.96%122.22%107.89%+1,966 bps
Non-Interest Burden2.14%2.56%2.67%2.98%2.53%+40 bps
Growth
Asset Growth (YoY)6.76%3.16%-0.15%-2.19%-0.66%-742 bps
Loan Growth (YoY)13.32%4.60%0.95%-0.27%-1.93%-1,525 bps
Deposit Growth (YoY)-0.51%0.41%-3.10%-4.76%-0.50%+1 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.00%0.00%0.00%0.01%0 bps
Allowance / Loans0.37%0.37%0.38%0.40%0.42%+5 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 Capital17.47%17.78%15.06%16.36%16.30%-118 bps
Equity / Assets9.33%9.32%9.30%9.21%9.09%-24 bps
Liquidity & Funding
Loans / Deposits98.18%99.47%101.41%99.05%96.77%-141 bps
Liquid Assets / Assets0.10%0.12%0.09%0.11%0.09%-1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a