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Iron and Glass Bank

Pittsburgh, PA · Cert 9891

FDIC

Q2 2008

$305.3MAssets
$170.6MLoans
$254.3MDeposits
$38.6MEquity
Loan mix
66%RE $69.8M34%C&I $35.5M0%Consumer $0.1MQ2 2007Q2 2008
Deposit mix
84%Interest-bearing $213.2M16%Noninterest $41.1MQ2 2007Q2 2008

NIM

5.90%Q2 ’066.07%Q2 ’075.72%Q2 ’08-5%-7%

Non-interest income vs. expense

2.43%Q2 ’062.35%Q2 ’072.85%Q2 ’08-5%+30%

Executive Summary

  • Earnings: ROA of 0.60%, down 55 bps year over year; NIM at 3.31%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.42%.
  • Funding: loans stand at 67.10% of deposits as of Q2 2008.

Financial Results

Return on Assets (YTD, annualized)

0.60%-55 bps YoY

Net Interest Margin (YTD, annualized)

3.31%-25 bps YoY

Efficiency Ratio (YTD, annualized)

76.09%+1,815 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets1.15%1.18%1.20%0.78%0.60%-55 bps
Return on Equity9.37%9.58%9.67%6.20%4.73%-463 bps
Net Interest Margin3.55%3.56%3.50%3.41%3.31%-25 bps
Efficiency Ratio57.94%57.12%57.38%68.95%76.09%+1,815 bps
Non-Interest Burden1.88%1.85%1.83%2.24%2.43%+56 bps
Growth
Asset Growth (YoY)0.67%-1.35%0.23%5.34%2.88%+221 bps
Loan Growth (YoY)-0.86%-2.56%-0.74%2.55%1.36%+221 bps
Deposit Growth (YoY)-2.81%-4.62%-0.70%5.10%4.77%+758 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.08%0.08%-0.04%0.73%0.42%+34 bps
Allowance / Loans1.08%1.07%1.11%0.95%0.95%-14 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 Capital18.09%18.12%18.63%18.07%17.99%-10 bps
Equity / Assets12.39%12.57%12.83%12.47%12.64%+24 bps
Liquidity & Funding
Loans / Deposits69.35%69.35%66.05%63.81%67.10%-226 bps
Liquid Assets / Assets26.86%26.82%26.93%22.29%19.27%-759 bps
CRE / Total Capitaln/an/an/an/an/an/an/a