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First Bank of Indiantown

Indiantown, FL · Cert 18149

FDIC · 41 branches

Q4 2017

$2.2BAssets
$1.4BLoans
$1.8BDeposits
$240.7MEquity
Loan mix
85%RE $854.4M11%C&I $109.0M4%Consumer $41.6MQ1 2016Q4 2017
Deposit mix
66%Interest-bearing $1.2B34%Noninterest $0.6BQ1 2016Q4 2017

Market Position · Port St. Lucie, FL · 2017 SOD (annual) · 4.0% share · #10 of 20 inst. · $0.4B of $9.0B

5.8% St. Lucie
5.2% St. Johns
14.1% Highlands
4.5% Alachua

Executive Summary

  • Earnings: ROA of -0.21%, down 43 bps year over year; NIM at 3.55%.
  • Asset quality: problem loans at 2.10% of loans (+210 bps YoY), with net charge-offs at 0.10%.
  • Capital: tier 1 leverage ratio of 9.75%, down 82 bps from a year ago.
  • Funding: loans stand at 76.48% of deposits as of Q4 2017.

Return on Assets (quarter, annualized)

-0.21%-43 bps YoY

Net Interest Margin (quarter, annualized)

3.55%+21 bps YoY

Efficiency Ratio (quarter, annualized)

65.83%-346 bps YoY

Tier 1 Leverage Ratio

9.75%-82 bps YoY

NIM

3.80%Q4 ’153.58%Q4 ’163.85%Q4 ’17-7%+6%

Non-interest income vs. expense

3.41%Q4 ’152.68%Q4 ’162.80%Q4 ’17-16%-3%

Discrete quarter, annualized.

MetricQ1 2016Q2 2016Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017Q4 2017YoY ΔTrend
Earnings
Return on Assets0.33%0.49%0.55%0.22%0.63%0.47%0.61%-0.21%-43 bps
Return on Equity2.68%3.95%4.60%1.91%5.57%4.16%5.23%-1.81%-371 bps
Net Interest Margin3.53%3.43%3.30%3.33%3.37%3.34%3.46%3.55%+21 bps
Efficiency Ratio76.24%73.99%73.85%69.29%73.03%69.58%69.67%65.83%-346 bps
Non-Interest Burden2.68%2.45%2.36%2.30%2.34%2.23%2.32%2.22%-8 bps
Growth
Asset Growth (YoY)40.64%19.89%21.85%3.40%6.97%5.91%21.97%21.91%+1,851 bps
Loan Growth (YoY)64.99%24.35%23.17%8.62%8.28%6.46%29.49%26.26%+1,765 bps
Deposit Growth (YoY)43.60%21.86%27.05%5.48%9.41%8.36%18.59%17.98%+1,250 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%3.16%2.80%2.09%2.10%+210 bps
Net Charge-Offs / Loans0.08%0.15%0.17%-0.05%0.38%0.40%0.01%0.10%+14 bps
Allowance / Loans0.48%0.46%0.45%0.71%0.61%0.66%0.60%0.63%-8 bps
Allowance Coverage of NPLsn/an/an/an/a0.2x0.2x0.3x0.3xn/a
Capital
Tier 1 Leverage Ratio11.34%11.26%10.57%10.57%10.52%10.25%10.76%9.75%-82 bps
Total Risk-Based Capital17.99%17.76%16.70%16.41%16.11%16.05%15.48%14.54%-186 bps
Equity / Assets12.36%12.37%11.73%11.54%11.16%11.27%11.88%11.04%-49 bps
Liquidity & Funding
Loans / Deposits68.51%68.60%68.88%71.47%67.80%67.39%75.22%76.48%+502 bps
Liquid Assets / Assets11.39%11.67%11.57%10.39%10.96%10.99%9.31%9.19%-120 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a