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First National Bank of the Florida Keys

Marathon, FL · Cert 22427

FDIC

Q3 2009

$2.6BAssets
$1.9BLoans
$2.2BDeposits
$64.3MEquity
Loan mix
94%RE $1.4B5%C&I $0.1B0%Consumer $0.0BQ3 2008Q3 2009
Deposit mix
95%Interest-bearing $2.1B5%Noninterest $0.1BQ3 2008Q3 2009

NIM

7.34%Q3 ’075.50%Q3 ’083.85%Q3 ’09-30%-43%

Non-interest income vs. expense

1.53%Q3 ’071.56%Q3 ’082.24%Q3 ’09+8%+58%

Executive Summary

  • Earnings: ROA of -4.10%, down 451 bps year over year; NIM at 1.37%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 6.01%.
  • Funding: loans stand at 86.94% of deposits as of Q3 2009.

Financial Results

Return on Assets (YTD, annualized)

-4.10%-451 bps YoY

Net Interest Margin (YTD, annualized)

1.37%-103 bps YoY

Efficiency Ratio (YTD, annualized)

152.11%+9,232 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2008Q4 2008Q1 2009Q2 2009Q3 2009YoY ΔTrend
Earnings
Return on Assets0.42%-0.73%0.31%1-0.63%-4.10%-451 bps
Return on Equity7.24%-13.09%6.29%-12.32%-91.20%-9,843 bps
Net Interest Margin2.40%2.23%1.34%1.37%1.37%-103 bps
Efficiency Ratio59.79%70.51%110.23%137.42%152.11%+9,232 bps
Non-Interest Burden1.35%1.51%1.50%1.92%2.14%+79 bps
Growth
Asset Growth (YoY)4.26%8.20%-3.48%-7.57%-3.93%-819 bps
Loan Growth (YoY)1.58%-2.38%-6.73%-5.65%-7.30%-888 bps
Deposit Growth (YoY)22.72%34.51%6.16%-3.16%7.25%-1,547 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.76%3.42%0.16%2.29%6.01%+425 bps
Allowance / Loans2.45%2.72%2.73%2.13%4.91%+246 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 Capital10.20%9.05%9.60%9.86%1.30%-890 bps
Equity / Assets6.00%4.80%4.95%5.67%2.46%-354 bps
Liquidity & Funding
Loans / Deposits100.58%89.26%89.06%91.55%86.94%-1,364 bps
Liquid Assets / Assets0.06%7.11%9.51%6.79%7.63%+757 bps
CRE / Total Capitaln/an/an/an/an/an/an/a