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Admiralty Bank

Palm Beach Gardens, FL · Cert 26973

FDIC

Q1 2003

$713.8MAssets
$505.0MLoans
$559.8MDeposits
$150.0MEquity
Deposit mix
83%Interest-bearing $462.1M17%Noninterest $97.7MQ1 2002Q1 2003

NIM

8.17%Q1 ’016.20%Q1 ’023.60%Q1 ’03+1%-31%

Non-interest income vs. expense

3.07%Q1 ’012.25%Q1 ’021.88%Q1 ’03-25%-16%

Executive Summary

  • Earnings: ROA of 0.35%, down 77 bps year over year; NIM at 2.71%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.02%.
  • Funding: loans stand at 90.21% of deposits as of Q1 2003.

Financial Results

Return on Assets (YTD, annualized)

0.35%-77 bps YoY

Net Interest Margin (YTD, annualized)

2.71%-122 bps YoY

Efficiency Ratio (YTD, annualized)

57.30%+355 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2002Q2 2002Q3 2002Q4 2002Q1 2003YoY ΔTrend
Earnings
Return on Assets1.11%1.10%1.13%1.03%0.35%-77 bps
Return on Equity13.22%13.27%13.62%12.39%2.27%-1,095 bps
Net Interest Margin3.93%3.55%3.74%3.60%2.71%-122 bps
Efficiency Ratio53.75%53.75%52.11%53.90%57.30%+355 bps
Non-Interest Burden2.03%1.82%1.86%1.86%1.70%-32 bps
Growth
Asset Growth (YoY)45.72%36.39%22.57%21.46%33.60%-1,212 bps
Loan Growth (YoY)53.55%31.02%25.08%22.01%24.67%-2,888 bps
Deposit Growth (YoY)49.37%41.08%24.83%22.77%15.57%-3,380 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.42%0.24%0.18%0.17%0.02%-41 bps
Allowance / Loans1.11%1.07%1.08%1.13%1.13%+1 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 Capital10.24%10.12%10.01%10.07%11.29%+105 bps
Equity / Assets8.26%8.07%8.20%8.41%21.02%+1,275 bps
Liquidity & Funding
Loans / Deposits83.63%81.06%83.37%87.36%90.21%+658 bps
Liquid Assets / Assets6.70%6.31%6.15%4.95%0.01%-670 bps
CRE / Total Capitaln/an/an/an/an/an/an/a