Peer Data for New England Banks: Q1 2020

Below you will find our compilation of peer financial information for the three-month period ended March 31, 2020. Consistent with last quarter, each New England state has its own tab and there is a final tab that consolidates all the banks in New England.

The data includes a number of key credit quality, performance, and capital adequacy ratios. We also include simple averages for each state and comparable ratios for all FDIC-insured institutions in the $100 million to $1.0 billion and $1.0 billion to $10.0 billion ranges.

The first quarter of 2020 saw shrinking margins for New England banks and all FDIC-insured institutions. Margins are a significant 20 basis points lower for the nation and four basis points lower for New England banks.

Due mainly to marketable equity security mark-to-market accounting rules that went into effect in 2018/2019, ROA/ROE was significantly impacted by lower stock market values. ROA and ROE for New England banks was (.08%) and 1.07%, respectively. There are a number of New England banks with a significant amount of assets invested in marketable equity securities. ROA/ROE was also likely impacted by a COVID-19 related allowance for loan losses increase – the ratio of the allowance to total loans went up from .89% to .97% in the first quarter.

Credit quality continues to be outstanding with net charge-offs (5 basis points), and the non-performing loan to total loan ratio (66 basis points) below national averages.

This information is all publicly available so it can be shared with others in your bank including board members.

Click HERE for the full report.

As always, feel free to contact us with any questions.