CMS Case Study

NII Reconciliation - 6/30/2021

3 MONTH LOOKBACK

03/31/2021 - 06/30/2021

12/31/2020 - 03/31/2021

09/30/2020 - 12/31/2020

06/30/2020 - 09/30/2020

VARIANCE

VARIANCE

VARIANCE

VARIANCE

PROJ. ACTUALS 1,261 1,137 4,582 4,759

$

% PROJ. ACTUALS

$

% PROJ. ACTUALS

$

% PROJ. ACTUALS

$

%

INVESTMENTS

124 10.89% 858

861

-2 -0.27% 881

780

100 12.88% 944

912

33 3.57% -48 -1.01%

LOANS

-176 -3.71% 4,365 4,381

-16 -0.37% 4,405 4,452

-48 -1.07% 4,708 4,756

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

5,843 5,896

-52 -0.89% 5,223 5,242

-19 -0.36% 5,285 5,232

53 1.01% 5,652 5,668

-15 -0.27%

DEPOSITS

NON-MATURITY DEPOSITS TIME DEPOSITS

342 156 498

367 156 523

-25 -6.74% 324 0 0.04% 177 -25 -4.71% 501

316 178 494

8 2.62% 300

285 237 522

15 5.27% 295 2 0.97% 372 17 3.32% 668 9 12.17% 72

262 375 638

33 12.62%

-1 -0.59% 239 7 1.46% 539

-3 -0.84% 30 4.69% -3 -4.11% 0 0.00% 27 3.76% -42 -0.85%

TOTAL DEPOSITS BORROWINGS

70

71

-1 -1.74% 0 0.00%

65

68

-3 -3.89% 0 0.00%

80

71

76

ALL OTHER LIABILITIES

0

0

0

0

0

0

0 0.00%

0

0

TOTAL INTEREST EXPENSE NET INTEREST INCOME

568

594

-26 -4.36% 566

561

5 0.82% 619

593

26 4.38% 740

713

5,275 5,302

-27 -0.50% 4,657 4,680

-23 -0.50% 4,666 4,639

27 0.58% 4,912 4,955

12 MONTH LOOKBACK

06/30/2020 - 06/30/2021

03/31/2020 - 03/31/2021

12/31/2019 - 12/31/2020

09/30/2019 - 09/30/2020

VARIANCE

VARIANCE

VARIANCE

VARIANCE

PROJ. ACTUALS 3,679 3,690 18,055 18,348

$

% PROJ. ACTUALS

$

% PROJ. ACTUALS

$

% PROJ. ACTUALS

$

%

INVESTMENTS

-11 -0.29% 3,657 3,465 -293 -1.60% 17,270 18,189

192 5.55% 4,110 3,681 -920 -5.06% 18,074 18,427

429 11.66% 3,989 3,927

62 1.58%

LOANS

-353 -1.91% 17,341 18,548 -1,207 -6.51%

OTHER ASSETS 0 0.00% TOTAL INTEREST INCOME 21,734 22,037 -304 -1.38% 20,927 21,654 -727 -3.36% 22,184 23,417 -1,233 -5.27% 21,330 22,475 -1,145 -5.10% DEPOSITS NON-MATURITY DEPOSITS 1,174 1,230 -56 -4.56% 1,464 1,134 329 29.05% 2,133 1,310 823 62.87% 1,933 1,526 406 26.60% TIME DEPOSITS 937 946 -9 -0.95% 1,599 1,255 344 27.41% 2,209 1,620 589 36.39% 2,285 1,968 316 16.06% TOTAL DEPOSITS 2,111 2,176 -65 -2.99% 3,063 2,389 673 28.19% 4,342 2,929 1,413 48.23% 4,217 3,495 722 20.67% BORROWINGS 288 285 2 0.85% 244 280 -36 -12.80% 200 267 -68 -25.29% 151 242 -91 -37.67% ALL OTHER LIABILITIES 0 0 0 0.00% 0 0 0 0.00% 0 0 0 0.00% 0 0 0 0.00% TOTAL INTEREST EXPENSE 2,398 2,461 -63 -2.55% 3,307 2,669 638 23.89% 4,542 3,196 1,345 42.09% 4,368 3,737 631 16.89% NET INTEREST INCOME 19,335 19,576 -241 -1.23% 17,620 18,985 -1,365 -7.19% 17,642 20,221 -2,579 -12.75% 16,962 18,738 -1,776 -9.48% 0 0 0 0.00% 0 0 0 0.00% 0 1,310 -1,310 -100.00% 0 0

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

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