PackageTrendsPeer
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Farmers and Merchants Bank & Trust

Hagerstown, MD · Cert 9694

FDIC

Q3 2008

$3.7BAssets
$2.8BLoans
$2.5BDeposits
$273.5MEquity
Loan mix
80%RE $1.8B19%C&I $0.4B0%Consumer $0.0BQ4 2006Q3 2008
Deposit mix
86%Interest-bearing $2.1B14%Noninterest $0.4BQ4 2006Q3 2008

Executive Summary

  • Earnings: ROA of 0.59%, down 45 bps year over year; NIM at 3.18%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.19%.
  • Funding: loans stand at 113.18% of deposits as of Q3 2008.

Return on Assets (YTD, annualized)

0.59%-45 bps YoY

Net Interest Margin (YTD, annualized)

3.18%0 bps YoY

Efficiency Ratio (YTD, annualized)

53.63%-401 bps YoY

Tier 1 Leverage Ratio

n/a
n/a

NIM

5.97%Q3 ’066.19%Q3 ’075.53%Q3 ’08-3%0%

Non-interest income vs. expense

2.30%Q3 ’062.32%Q3 ’072.06%Q3 ’08+2%-5%

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets1.38%1.19%0.90%1.04%1.10%0.81%0.95%0.59%-45 bps
Return on Equity15.79%13.04%9.99%11.60%12.41%9.57%11.37%7.23%-438 bps
Net Interest Margin3.37%3.20%3.19%3.18%3.12%3.29%3.27%3.18%0 bps
Efficiency Ratio53.84%57.31%57.98%57.65%57.53%53.94%51.88%53.63%-401 bps
Non-Interest Burden1.38%1.47%1.51%1.51%1.48%1.45%1.35%1.44%-7 bps
Growth
Asset Growth (YoY)2.12%2.57%1.65%8.89%12.56%12.21%11.95%15.57%+669 bps
Loan Growth (YoY)-1.33%-1.01%-0.94%7.69%14.13%16.63%16.68%23.40%+1,571 bps
Deposit Growth (YoY)-1.83%0.81%-0.15%1.56%8.24%7.62%7.72%8.43%+687 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%0.15%0.08%0.11%0.14%0.04%0.26%0.19%+8 bps
Allowance / Loans0.75%0.77%0.78%0.74%0.71%0.93%0.94%1.10%+36 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/an/an/an/a
Total Risk-Based Capital11.41%11.35%10.96%10.77%10.71%11.19%10.94%10.48%-30 bps
Equity / Assets9.01%9.17%8.92%8.74%8.52%8.51%8.16%7.44%-130 bps
Liquidity & Funding
Loans / Deposits97.61%94.00%96.44%99.45%102.92%101.86%104.46%113.18%+1,373 bps
Liquid Assets / Assets0.24%0.31%0.53%0.31%0.25%0.33%0.49%0.33%+2 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a