CMS Case Study

NII Reconciliation - 03/31/2021

90 DAY LOOKBACK

12/31/2020 - 03/31/2021

09/30/2020 - 12/31/2020

06/30/2020 - 09/30/2020

03/31/2020 - 06/30/2020

VARIANCE

VARIANCE

VARIANCE

VARIANCE

PROJ. ACTUALS

$

% PROJ. ACTUALS

$

% PROJ. ACTUALS

$

% PROJ. ACTUALS

$

%

INVESTMENTS

858

861

-2 -0.27% 881

780

100 12.88% 944

912

33 3.57% 950

912

38 4.17% -195 -4.24%

LOANS

4,365 4,381

-16 -0.37% 4,405 4,452

-48 -1.07% 4,708 4,756

-48 -1.01% 4,405 4,600

OTHER ASSETS

0

0

0 0.00%

0

0

0 0.00%

0

0

0 0.00%

0

0

0 0.00%

TOTAL INTEREST INCOME

5,223 5,242

-19 -0.36% 5,285 5,232

53 1.01% 5,652 5,668

-15 -0.27% 5,355 5,512 -157 -2.85%

DEPOSITS

NON-MATURITY DEPOSITS TIME DEPOSITS

324 177 501

316 178 494

8 2.62% 300

285 237 522

15 5.27% 295 2 0.97% 372 17 3.32% 668

262 375 638

33 12.62% 365 -3 -0.84% 473 30 4.69% 838 -3 -4.11% 61

271 465 736

93 34.39%

-1 -0.59% 239 7 1.46% 539

9 1.85%

TOTAL DEPOSITS BORROWINGS

102 13.85% -5 -7.40% 0 0.00% 97 12.11%

65

68

-3 -3.89% 0 0.00%

80

71

9 12.17% 0 0.00%

72

76

66

ALL OTHER LIABILITIES

0

0

0

0

0

0

0 0.00%

0

0

TOTAL INTEREST EXPENSE NET INTEREST INCOME

566

561

5 0.82% 619

593

26 4.38% 740

713

27 3.76% 899

802

4,657 4,680

-23 -0.50% 4,666 4,639

27 0.58% 4,912 4,955

-42 -0.85% 4,456 4,711 -254 -5.40%

1. 12/31/2020 - 03/31/2021 NII recon. excludes PPP related fee income (as of 3/31/21, $535K in actual PPP fee income was realized over the quarter vs. $285K projected). 2. 09/30/2020 - 12/31/2020 lookback excludes PPP related fee income. The investment variance is mainly due to the difference between assumed MBS purchases vs. actual MBS purchases 3. 03/31/2020 - 06/30/2020 variance is is due to asset growth. Deposits inflows funded loan demand (including PPP loans).

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