Danvers Bancorp (DNBK) 8-K/A Financial Statements and Exhibits

Exhibit 99.4

Danvers Bancorp, Inc. and Subsidiaries

Proforma Condensed Consolidated Balance Sheets

Proforma September 30, 2009 and December 31, 2008

(In thousands)

	September 30,			December 31,
	2009			2008			Change
	(Unaudited)
ASSETS
Cash and cash equivalents	$	112,818		$	43,234		69,584
Certificates of deposit	10,588			10,291			297
Securities available for sale, at fair value	607,674			594,468			13,206
Securities held to maturity, at cost	10,000			—			10,000
Loans held for sale	1,625			—			1,625
Loans, net	1,552,139			1,442,905			109,234
Federal Home Loan Bank stock, at cost	18,172			18,087			85
Premises and equipment, net	35,261			31,852			3,409
Other real estate owned	1,867			1,158			709
Accrued interest receivable	9,938			9,226			712
Goodwill and other intangible assets	33,957			33,957			—
Other assets	59,430			57,688			1,742
Total assets	$	2,453,469		$	2,242,866		210,603
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest bearing	$	219,773		$	198,286		21,487
Interest-bearing	1,549,943			1,260,645			289,298
Total deposits	1,769,716			1,458,931			310,785
Short-term borrowings	119,439			225,809			(106,370	)
Long-term debt	217,970			206,129			11,841
Subordinated debt	29,965			29,965			—
Accrued expenses and other liabilities	21,420			22,475			(1,055	)
Total liabilities	2,158,510			1,943,309			215,201
Stockholders’ equity:
Preferred stock; $0.01 par value, 10,000,000 shares authorized; none issued	—			—			—
Common stock; $0.01 par value, 60,000,000 shares authorized; 22,316,125 shares issued as of September 30, 2009 and December 31, 2008	223			223			—
Additional paid-in capital	224,672			222,555			2,117
Retained earnings	88,780			86,313			2,467
Accumulated other comprehensive income	6,194			4,026			2,168
Unearned restricted shares	(7,209		)	—			(7,209	)
Unearned compensation - ESOP; 1,302,503 and 1,356,030 shares at September 30, 2009 and December 31, 2008, respectively	(13,025		)	(13,560		)	535
Treasury stock, at cost; 362,793 and 0 shares at September 30, 2009 and December 31, 2008, respectively	(4,676		)	—			(4,676	)
Total stockholders’ equity	294,959			299,557			(4,598	)
Total liabilities and stockholders’ equity	$	2,453,469		$	2,242,866		210,603

Danvers Bancorp, Inc. and Subsidiaries

Proforma Condensed Consolidated Statements of Income

Proforma For the Three Months Ended September 30, 2009 and 2008

Proforma For the Nine Months Ended September 30, 2009 and 2008

(Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2009			2008			2009			2008
	(In thousands, except per share data)
Interest and dividend income:
Interest and fees on loans	$	22,050		$	21,224		$	63,832		$	62,736
Interest and dividends on securities	6,707			6,021			20,406			19,423
Interest on cash equivalents and certificates of deposit	132			340			353			1,162
Total interest and dividend income	28,889			27,585			84,591			83,321
Interest expense:
Interest on deposits	7,599			8,074			22,779			26,440
Interest on borrowed funds	2,632			2,997			8,066			8,869
Total interest expense	10,231			11,071			30,845			35,309
Net interest income	18,658			16,514			53,746			48,012
Provision for loan losses	1,455			1,275			3,790			3,313
Net interest income, after provision for loan losses	17,203			15,239			49,956			44,699
Non-interest income:	2,740			(1,152		)	8,260			5,143
Non-interest expenses:	28,481			25,701			64,985			68,515
Income before income taxes	(8,538		)	(11,614		)	(6,769		)	(18,673		)
Provision for income taxes	480			1,967			1,221			(2,223		)
Net income	$	(9,018	)	$	(13,581	)	$	(7,990	)	$	(16,450	)
Weighted-average shares outstanding:
Basic	20,136,421			19,114,524			20,467,221			n/a
Diluted	20,208,168			19,117,993			20,512,209			n/a
Earnings (loss) per share:
Basic	$	(0.37	)	$	(0.71	)	$	(0.39	)	n/a
Diluted	$	(0.37	)	$	(0.71	)	$	(0.39	)	n/a