First Quarter Report, 2022 Peer Data for New England Banks

Linked within this email is our compilation of peer financial information for the three months ended March 31, 2022. 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 saw margins decline in New England, with a net interest margin of 3.00% for the first quarter of 2022 compared to 3.06% for the fourth quarter of 2021. Nationally, net interest margins for the first quarter were also lower compared to the fourth quarter of 2021.

Operating Income to Total Assets for the first quarter also declined from the fourth quarter, as did ROA and ROE. Please keep in mind that the Operating Income to Total Assets ratio excludes tax-effected (at 21%) equity security gains from net income, and the ROA and ROE ratios include annualized equity security gains.

Credit quality continues to be strong for New England banks with net charge-offs (4 basis points) and non-performing loans to total loans ratios (44 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.