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Southern Exchange Bank

Tampa, FL · Cert 1342

FDIC

Q3 2003

$781.7MAssets
$166.9MLoans
$473.5MDeposits
$144.9MEquity
Loan mix
59%RE $27.5M41%C&I $18.8M0%Consumer $0.0MQ3 2002Q3 2003
Deposit mix
90%Interest-bearing $427.8M10%Noninterest $45.7MQ3 2002Q3 2003

NIM

5.92%Q3 ’015.45%Q3 ’022.05%Q3 ’03+3%-49%

Non-interest income vs. expense

2.32%Q3 ’012.09%Q3 ’021.15%Q3 ’03+0%-45%

Executive Summary

  • Earnings: ROA of 0.35%, down 83 bps year over year; NIM at 1.34%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.23%.
  • Funding: loans stand at 35.24% of deposits as of Q3 2003.

Financial Results

Return on Assets (YTD, annualized)

0.35%-83 bps YoY

Net Interest Margin (YTD, annualized)

1.34%-131 bps YoY

Efficiency Ratio (YTD, annualized)

67.50%+567 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.18%1.18%0.00%0.30%0.35%-83 bps
Return on Equity14.70%15.18%0.00%1.89%2.16%-1,254 bps
Net Interest Margin2.64%2.21%0.00%1.05%1.34%-131 bps
Efficiency Ratio61.84%61.71%n/a64.29%67.50%+567 bps
Non-Interest Burden1.44%1.18%0.00%0.59%0.80%-64 bps
Growth
Asset Growth (YoY)62.24%44.34%48.48%45.93%21.09%-4,115 bps
Loan Growth (YoY)18.46%24.92%-10.07%-3.58%-4.45%-2,291 bps
Deposit Growth (YoY)68.73%31.03%12.22%6.61%14.46%-5,427 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.23%0.32%0.00%-0.01%-0.23%-46 bps
Allowance / Loans1.55%1.50%1.48%1.52%1.67%+12 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital13.97%14.36%15.52%14.84%14.43%+46 bps
Equity / Assets6.93%6.87%18.88%19.98%18.54%+1,161 bps
Liquidity & Funding
Loans / Deposits42.22%36.67%35.25%38.66%35.24%-697 bps
Liquid Assets / Assets62.84%65.04%0.00%0.00%0.00%-6,284 bps
CRE / Total Capitaln/an/an/an/an/an/an/a