CMS Case Study

Index MMDA to Prime - 12/31/2021

Index MMDA to Prime

Base Simulation as of 12/31/2021

Quarterly Net Interest Income (NII) Projections

Quarterly Net Interest Income (NII) Projections

9,175

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

8,175

7,175

6,175

5,175

4,175

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Up 400BP 24M Flat Up 200BP

Up 200BP

Base

Up 400BP 24M Flat Up 200BP

Up 200BP

Base

NII RESULTS

Y1

Y2

Y3

Y4

Y5

Y1

Y2

Y3

Y4

Y5

Y1

Y2

Y3

Y4

Y5

UP 400BP 24M FLAT UP 200BP

22,743 22,061 23,907 27,789 31,215 22,326 21,550 22,063 23,004 23,816 22,675 22,928 24,467 26,433 28,182 23,280 23,089 22,931 23,118 23,340

432 1,069 1,358 1,356 1,355 22,311 20,991 22,549 26,433 29,861

432 432

724 722

723 721

723 720

723 21,894 20,826 21,340 22,281 23,093 719 22,243 22,206 23,746 25,713 27,463 86 23,196 23,003 22,844 23,031 23,253

UP 200BP

85

86

87

87

BASE

DIFFERENCE

YR 2 % CHANGE FROM YR 1 BASE POLICY

Y1 POLICY

Y2

Y1

Y2

POLICY

Y1 POLICY

Y2

UP 400BP 24M FLAT UP 200BP

-2.3% -4.1%

-5.2% -7.4%

1.5% 1.5% 1.5%

4.3% 2.8% 2.8% 0.0%

-3.8% -5.6%

-9.5%

-10.2%

UP 200BP

-15.0% -2.6% -15.0% -1.5%

-15.0% -4.1% -15.0% -4.3%

-0.8%

-0.8%

BASE

DIFFERENCE 1. Alternative simulation assumes MMDA accounts are indexed as follows: ($0-19K tied to 3% of Prime, $20K-$49K tied to 4% of Prime, $50K-$99K tied to 5% of Prime, $100K-$249K tied to 6% of Prime, $250K+ tied to 7% of Prime). 2. Base simulation assumes all MMDA accounts have a beta of 50% in the rising rate scenarios.

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