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Carolina First Bank

Greenville, SC · Cert 26849

FDIC

Q2 2010

$11.6BAssets
$7.7BLoans
$9.4BDeposits
$781.7MEquity
Loan mix
82%RE $6.0B17%C&I $1.2B1%Consumer $0.0BQ2 2009Q2 2010
Deposit mix
88%Interest-bearing $8.3B12%Noninterest $1.1BQ2 2009Q2 2010

NIM

5.24%Q2 ’084.35%Q2 ’093.78%Q2 ’10-11%-12%

Non-interest income vs. expense

2.54%Q2 ’083.53%Q2 ’099.81%Q2 ’10+104%+176%

Executive Summary

  • Earnings: ROA of -10.26%, down 751 bps year over year; NIM at 2.34%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.87%.
  • Funding: loans stand at 81.53% of deposits as of Q2 2010.

Financial Results

Return on Assets (quarter, annualized)

-10.26%-751 bps YoY

Net Interest Margin (quarter, annualized)

2.34%-31 bps YoY

Efficiency Ratio (quarter, annualized)

90.30%-3,045 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets-2.75%-10.40%-5.70%-2.60%-10.26%-751 bps
Return on Equity-22.66%-89.00%-56.34%-28.59%-131.97%-10,930 bps
Net Interest Margin2.65%2.60%2.65%2.49%2.34%-31 bps
Efficiency Ratio120.75%77.21%100.68%84.67%90.30%-3,045 bps
Non-Interest Burden3.34%1.83%2.71%2.06%9.24%+590 bps
Growth
Asset Growth (YoY)-9.93%-10.18%-12.47%-6.34%-7.77%+216 bps
Loan Growth (YoY)-10.93%-14.14%-17.87%-20.02%-17.73%-681 bps
Deposit Growth (YoY)-5.43%-6.33%-1.42%5.71%-0.32%+511 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans5.16%7.59%7.01%4.38%4.87%-29 bps
Allowance / Loansn/an/an/an/an/an/an/a
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 Capital12.55%11.70%10.55%10.45%9.85%-270 bps
Equity / Assetsn/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits98.80%93.58%90.36%82.07%81.53%-1,726 bps
Liquid Assets / Assets1.17%1.13%1.07%0.80%0.00%-117 bps
CRE / Total Capitaln/an/an/an/an/an/an/a