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Bay Bank & Trust Co.

Panama City, FL · Cert 15169

FDIC

Q4 2011

$232.5MAssets
$116.9MLoans
$206.6MDeposits
$25.6MEquity
Loan mix
93%RE $84.5M6%C&I $5.5M1%Consumer $1.2MQ4 2010Q4 2011
Deposit mix
72%Interest-bearing $148.7M28%Noninterest $57.9MQ4 2010Q4 2011

NIM

3.76%Q4 ’093.52%Q4 ’103.43%Q4 ’11+3%+2%

Non-interest income vs. expense

3.41%Q4 ’093.43%Q4 ’103.79%Q4 ’11+0%+11%

Executive Summary

  • Earnings: ROA of -1.54%, down 156 bps year over year; NIM at 3.10%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.19%.
  • Funding: loans stand at 56.60% of deposits as of Q4 2011.

Financial Results

Return on Assets (YTD, annualized)

-1.54%-156 bps YoY

Net Interest Margin (YTD, annualized)

3.10%+7 bps YoY

Efficiency Ratio (YTD, annualized)

98.35%+624 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2010Q1 2011Q2 2011Q3 2011Q4 2011YoY ΔTrend
Earnings
Return on Assets0.03%1-1.45%-3.09%-1.92%-1.54%-156 bps
Return on Equity0.20%-12.30%-27.30%-17.31%-13.86%-1,406 bps
Net Interest Margin3.04%3.11%3.08%3.03%3.10%+7 bps
Efficiency Ratio92.11%114.81%104.63%99.27%98.35%+624 bps
Non-Interest Burden2.75%3.68%3.26%3.00%3.04%+30 bps
Growth
Asset Growth (YoY)-0.01%8.06%7.85%6.77%-1.54%-153 bps
Loan Growth (YoY)-4.44%0.07%-2.54%-3.85%-6.98%-254 bps
Deposit Growth (YoY)0.28%9.85%11.01%9.51%-0.21%-49 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.29%0.06%1.69%3.67%3.19%+190 bps
Allowance / Loans1.85%2.06%3.74%1.92%1.92%+7 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 Capital23.79%22.48%21.19%21.76%22.22%-156 bps
Equity / Assets12.17%11.44%10.39%10.44%11.01%-116 bps
Liquidity & Funding
Loans / Deposits60.71%58.07%55.81%55.12%56.60%-412 bps
Liquid Assets / Assets23.43%29.66%32.59%33.58%33.71%+1,027 bps
CRE / Total Capitaln/an/an/an/an/an/an/a