- Commercial loan growth 14.5% 3-year CAGR.
- Demand deposit growth 12.2% 3-year CAGR.
- Low cost core deposit growth 16.4% 3-year CAGR.
- Assets increased $63.9 million Q1 2013; or 3.2%.
- Core operating revenue growth of 14% year-over-year and 2% linked quarter
- Core operating expense increased 19% year-over-year due to infrastructure
investments, and 1% increase linked quarters
- Record first quarter earnings; ROAA 0.89% for Q1 2013; diluted EPS up 31%
from prior year
- Strong asset quality – NCOs/average loans 0.02% Q1 2013; 0.08% annualized
- Strong credit review program - Third party review of commercial loan portfolio
and new originations four times a year, in addition to new origination review
by CRO and EVP/Commercial Banking. Stock buybacks – 10% Plan commenced after
completion of Federal Reserve Bank of Boston supervisory review March 12, 2012.
Plan completed as of May 20, 2013
- Announced 2nd 10% Stock Buyback Plan May 20, 2013
- Dividend increased 54% since 2011 conversion