Peer Analysis
 
Performance Ratios (%) CLDB Peer Median Peer Average
ROAA 0.77 0.95 0.95
ROAE 7.73 8.59 9.24
Net Interest Margin 3.65 3.74 3.68
Efficiency Ratio 73.00 68.89 70.43
Loans / Deposits 79.42 83.40 84.30
Asset Quality Ratios (%)
NPAs / Assets NA 1.20 1.25
NCOs / Avg Loans 0.13 0.17 0.19
Reserves / Loans NA 0.96 1.02
Reserves / NPAs NA 58.19 68.39
Capital Ratios (%)
Tier 1 Capital NA NA NA
Tangible Equity / Tangible Assets 9.26 9.81 9.66
Total Equity / Total Assets 9.26 10.91 10.68
Market Ratios
Price / Earnings (x) 16.85 10.51 12.17
Price / Book (%) 126.98 95.65 95.61
Dividend Yield (%) 1.71 3.01 2.77
Data for trailing four quarters

Cortland Bancorp's peer group consists of the following: Civista Bancshares Inc. (CIVB), Croghan Bancshares, Inc. (CHBH), DCB Financial Corp (DCBF), Farmers & Merchants Bancorp, Inc. (FMAO), Farmers National Banc Corp. (FMNB), LCNB Corp. (LCNB), LNB Bancorp, Inc. (LNBB), Middlefield Banc Corp. (MBCN), NB&T Financial Group, Inc. (NBTF), Ohio Valley Banc Corp. (OVBC), SB Financial Group, Inc. (SBFG), United Bancorp, Inc. (UBCP), United Bancshares, Inc. (UBOH), Wayne Savings Bancshares, Inc. (WAYN)

Cortland Bancorp's financial data is as of 12/31/2015.

Peer financial data is as of 12/31/2015 except for these companies:

LNB Bancorp, Inc.'s financial data is as of 6/30/2015.
NB&T Financial Group, Inc.'s financial data is as of 12/31/2014.
Wayne Savings Bancshares, Inc.'s financial data is as of 9/30/2015.
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