PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

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

6.47%Q3 ’015.75%Q3 ’022.98%Q3 ’03+0%-36%

Non-interest income vs. expense

2.38%Q3 ’012.22%Q3 ’021.72%Q3 ’03+4%-23%

Executive Summary

  • Earnings: ROA of 0.47%, down 78 bps year over year; NIM at 1.87%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.68%.
  • Funding: loans stand at 35.24% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

0.47%-78 bps YoY

Net Interest Margin (quarter, annualized)

1.87%-105 bps YoY

Efficiency Ratio (quarter, annualized)

71.09%+1,183 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.24%1.15%0.00%0.57%0.47%-78 bps
Return on Equity16.35%16.68%0.00%2.91%2.42%-1,393 bps
Net Interest Margin2.93%2.39%0.00%2.10%1.87%-105 bps
Efficiency Ratio59.25%61.37%n/a64.29%71.09%+1,183 bps
Non-Interest Burden1.55%1.20%0.00%1.17%1.19%-35 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 / Loans0.16%0.57%0.00%-0.02%-0.68%-83 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