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Equitable Bank

Fort Lauderdale, FL · Cert 26903

FDIC

Q4 2007

$172.5MAssets
$159.9MLoans
$130.9MDeposits
$22.4MEquity
Loan mix
73%RE $89.9M27%C&I $32.5M0%Consumer $0.2MQ4 2006Q4 2007
Deposit mix
78%Interest-bearing $102.5M22%Noninterest $28.4MQ4 2006Q4 2007

NIM

6.59%Q4 ’057.39%Q4 ’068.18%Q4 ’07+3%-3%

Non-interest income vs. expense

3.70%Q4 ’053.48%Q4 ’063.33%Q4 ’07-9%-4%

Executive Summary

  • Earnings: ROA of 1.21%, down 30 bps year over year; NIM at 5.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 122.10% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

1.21%-30 bps YoY

Net Interest Margin (YTD, annualized)

5.40%-15 bps YoY

Efficiency Ratio (YTD, annualized)

56.74%-83 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2006Q1 2007Q2 2007Q3 2007Q4 2007YoY ΔTrend
Earnings
Return on Assets1.51%1.72%1.66%1.63%1.21%-30 bps
Return on Equity14.02%15.23%14.63%14.03%10.18%-384 bps
Net Interest Margin5.55%5.89%5.52%5.52%5.40%-15 bps
Efficiency Ratio57.56%54.89%54.91%55.19%56.74%-83 bps
Non-Interest Burden2.99%2.99%2.81%2.83%2.86%-12 bps
Growth
Asset Growth (YoY)18.05%9.89%3.09%-3.05%-5.69%-2,375 bps
Loan Growth (YoY)20.09%15.50%11.18%3.97%4.38%-1,570 bps
Deposit Growth (YoY)14.82%12.22%10.82%-10.16%-11.01%-2,583 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%0.01%-0.01%0.00%0.00%-7 bps
Allowance / Loans1.29%1.29%1.27%1.26%1.91%+62 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 Capital14.75%15.05%15.17%15.77%15.81%+106 bps
Equity / Assets11.16%11.44%11.53%12.36%12.95%+180 bps
Liquidity & Funding
Loans / Deposits104.10%106.25%104.75%118.78%122.10%+1,800 bps
Liquid Assets / Assets6.97%6.80%7.65%6.55%4.06%-292 bps
CRE / Total Capitaln/an/an/an/an/an/an/a