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First Coast Community Bank

Fernandina Beach, FL · Cert 27075

FDIC

Q1 2010

$266.9MAssets
$204.3MLoans
$240.8MDeposits
$20.6MEquity
Loan mix
77%RE $130.0M23%C&I $39.0M0%Consumer $0.3MQ1 2009Q1 2010
Deposit mix
90%Interest-bearing $217.2M10%Noninterest $23.6MQ1 2009Q1 2010

NIM

6.95%Q1 ’085.46%Q1 ’094.60%Q1 ’10-18%-3%

Non-interest income vs. expense

2.53%Q1 ’082.57%Q1 ’093.14%Q1 ’10+28%+95%

Executive Summary

  • Earnings: ROA of -7.50%, down 778 bps year over year; NIM at 3.40%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.69%.
  • Funding: loans stand at 84.86% of deposits as of Q1 2010.

Financial Results

Return on Assets (quarter, annualized)

-7.50%-778 bps YoY

Net Interest Margin (quarter, annualized)

3.40%-12 bps YoY

Efficiency Ratio (quarter, annualized)

117.44%+5,484 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2009Q2 2009Q3 2009Q4 2009Q1 2010YoY ΔTrend
Earnings
Return on Assets0.27%0.31%-2.66%-5.25%-7.50%-778 bps
Return on Equity3.37%3.91%-34.31%-65.84%-95.01%-9,839 bps
Net Interest Margin3.52%3.53%3.49%3.39%3.40%-12 bps
Efficiency Ratio62.59%52.83%69.84%278%117.44%+5,484 bps
Non-Interest Burden1.98%1.09%2.25%5.42%3.87%+188 bps
Growth
Asset Growth (YoY)7.75%9.88%4.78%-0.04%-3.63%-1,138 bps
Loan Growth (YoY)6.23%1.22%-2.86%-6.31%-10.80%-1,703 bps
Deposit Growth (YoY)17.27%20.62%8.22%0.57%-3.13%-2,040 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.22%1.99%8.12%5.17%3.69%+348 bps
Allowance / Loans1.84%1.97%1.90%2.79%2.83%+100 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 Capital10.30%10.20%10.38%10.86%10.74%+44 bps
Equity / Assets8.03%7.66%7.87%8.08%7.71%-32 bps
Liquidity & Funding
Loans / Deposits92.16%87.00%87.72%85.86%84.86%-730 bps
Liquid Assets / Assets0.00%0.00%0.41%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a