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 Fourth Quarter 2020 $8.7 Billion Total Deposits $17.1 Billion Total Client Assets1 8.08% Tier 1 Leverage Capital Ratio (Above the 5.00% required by the FDIC to be well-capitalized) $7.1 Billion Total Loans $3.7 billion of cash, high-quality unpledged investment securities, and borrowing capacity from the Federal Home Loan Bank as of December 31, 2020. Capital Base Asset Quality Nonperforming Loans represent 0.34% of the total loan portfolio as of December 31, 2020. Capital ratios in excess of levels banking regulators consider to be well-capitalized. Liquidity Profile IDC Rating3 Superior (as of 12/31/2020)
Private Banking and Trust services are o ered through Boston Private Bank & Trust Company, a Massachusetts Chartered Trust Company. Wealth Management services are o ered through Boston Private Wealth LLC, an SEC Registered Investment Adviser and wholly owned subsidiary of Boston Private Bank & Trust Company. Boston Private Bank & Trust Company, its parent, its subsidiaries, and their sta , do not provide accounting services or legal advice. You should consult with your legal professional or tax preparer prior to taking any action relating to the subject matter contained in this communication. Investments are Not FDIC Insured, Not Guaranteed and May Lose Value. 10% 8% 6.5% 5% 13.04% 11.79% 11.79% 8.08% 0% 2% 4% 6% 8% 10% 12% 14% Total Risk-Based Tier 1 Risk-Based Common Equity Tier 1 Risk-Based Tier 1 Leverage CAPITAL 12/31/20 Total Risk-Based 13.04% Tier 1 Risk-Based 11.79% Common Equity Tier 1 11.79% Tier 1 Leverage 8.08% Well-Capitalized Boston Private Bank & Trust Company CAPITAL BASE (as of 12/31/2020) The financial highlights and condensed balance sheet below demonstrate the overall financial strength of Boston Private Bank & Trust Company as of December 31, 2020. CONDENSED BALANCE SHEET ($ in thousands) ASSETS 12/31/2020 CASH & INVESTMENTS $ 2,331,314 LOANS Loans held for sale 17,421 Commercial & Construction 3,917,081 Residential Mortgage 2,677,464 Home Equity and Consumer 197,408 Paycheck Protection Program Loans 312,356 Total Loans 7,104,309 Less: Allowance for loan losses (81,238) Net Loans 7,023,071 OTHER ASSETS 644,835 TOTAL ASSETS $ 10,016,641 LIABILITIES & SHAREHOLDER’S EQUITY 12/31/2020 DEPOSITS Demand Deposits $ 2,568,894 NOW 741,199 Savings & Money Market 4,847,476 Certificate of Deposit 508,116 Total Deposits 8,665,685 BORROWINGS 168,131 OTHER LIABILITIES 298,543 TOTAL LIABILITIES 9,132,359 SHAREHOLDER’S EQUITY 884,282 TOTAL LIABILITIES AND EQUITY $ 10,016,641 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 December 31, 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_20210225