BOSTON PRIVATE offers a full spectrum of wealth, trust, and banking services designed to give you one trusted resource to help simplify and strengthen your financial life. Every individual and organization has a different reason WHY they work so hard. At Boston Private, we strive to understand what drives our clients, so that we can help them live and work the way they want. Understanding what our clients’ wealth is really for enables us to formulate a custom strategy and solution to help them achieve their goals, hopes and dreams for today and tomorrow. Headquartered in Boston, we serve clients from our offices located in the major markets of Greater Boston, New York, San Francisco, San Jose, Los Angeles, Miami, and Palm Beach Gardens.2 bostonprivate.com Quarterly Statement of FINANCIAL CONDITION for Boston Private Bank & Trust Company FINANCIAL HIGHLIGHTS Third Quarter 2020 $7.9 Billion Total Deposits $16.3 Billion Total Client Assets1 8.5% Tier 1 Leverage Capital Ratio (Above the 5.00% required by the FDIC to be well-capitalized) $7.2 Billion Total Loans $2.8 billion of cash, high-quality unpledged investment securities, and borrowing capacity from the Federal Home Loan Bank as of September 30, 2020 Capital Base Asset Quality Nonperforming Loans represent 0.57% of the total loan portfolio as of September 30, 2020. Capital ratios in excess of levels banking regulators consider to be well-capitalized. Liquidity Profile IDC Rating3 Superior (as of 09/30/2020)
Private Banking and Trust services are o ered through Boston Private Bank & Trust Company, a Massachusetts Chartered Trust Company. Wealth Management services are o ered through Boston Private Wealth LLC, an SEC Registered Investment Adviser and wholly owned subsidiary of Boston Private Bank & Trust Company. Boston Private Bank & Trust Company, its parent, its subsidiaries, and their sta , do not provide accounting services or legal advice. You should consult with your legal professional or tax preparer prior to taking any action relating to the subject matter contained in this communication. Investments are Not FDIC Insured, Not Guaranteed and May Lose Value. 10% 8% 6.5% 5% 13.04% 11.79% 11.79% 8.50% 0% 2% 4% 6% 8% 10% 12% 14% Total Risk-Based Tier 1 Risk-Based Common Equity Tier 1 Risk-Based Tier 1 Leverage CAPITAL 09/30/20 Total Risk-Based 13.04% Tier 1 Risk-Based 11.79% Common Equity Tier 1 11.79% Tier 1 Leverage 8.50% Well-Capitalized Boston Private Bank & Trust Company CAPITAL BASE (as of 09/30/2020) The financial highlights and condensed balance sheet below demonstrate the overall financial strength of Boston Private Bank & Trust Company as of September 30, 2020. CONDENSED BALANCE SHEET ($ in thousands) ASSETS 09/30/2020 CASH & INVESTMENTS $ 1,593,040 LOANS Loans held for sale 15,074 Commercial & Construction 3,927,074 Residential Mortgage 2,729,164 Home Equity and Consumer 194,835 Paycheck Protection Program Loans 371,496 Total Loans 7,222,569 Less: Allowance for loan losses (84,551) Net Loans 7,138,018 OTHER ASSETS 653,016 TOTAL ASSETS $9,399,148 LIABILITIES & SHAREHOLDER’S EQUITY 09/30/2020 DEPOSITS Demand Deposits $2,413,348 NOW 616,847 Savings & Money Market 4,315,280 Certificate of Deposit 537,139 Total Deposits 7,882,614 BORROWINGS 338,780 OTHER LIABILITIES 300,620 TOTAL LIABILITIES 8,522,014 SHAREHOLDER’S EQUITY 877,134 TOTAL LIABILITIES AND EQUITY $9,399,148 1Total Client Assets includes: (1) the value of client portfolios under management by Boston Private Wealth LLC (“BPW”); (2) the value of ERISA plans and non-managed client assets to which BPW provides advisory services; and (3) assets held for safekeeping (custody) by Boston Private Bank and Trust Company (“BPBTC”) for clients of Trust and Fiduciary Services and BPW. 2 Certain offices may offer only wealth management or private banking services. 3As of September 30, 2020, Boston Private Bank & Trust Company’s safety and soundness was ranked “Superior” according to IDC Financial Publishing. As part of an independent third-party assessment of Boston Private Bank & Trust Company, IDC Financial Publishing, Inc. (IDC), a bank rating agency, has been rating the safety and soundness of banks since 1985. Every quarter, IDC calculates a one-number rank for over 13,000 financial institutions, using 24 key financial ratios. Bank safety ratings fall into one of six categories: Superior, Excellent, Average, Below Average, Lowest Ratios, and Rank of One. 00001_20201209