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Letter portraitLegal landscapeQuarterYTD

Southern Security Bank

Hollywood, FL · Cert 27126

FDIC

Q4 2009

$535.7MAssets
$424.1MLoans
$443.5MDeposits
$8.7MEquity
Loan mix
96%RE $398.9M4%C&I $18.2M0%Consumer $0.0MQ4 2008Q4 2009
Deposit mix
96%Interest-bearing $424.8M4%Noninterest $18.7MQ4 2008Q4 2009

NIM

6.58%Q4 ’075.83%Q4 ’084.63%Q4 ’09-11%-33%

Non-interest income vs. expense

3.47%Q4 ’0710.16%Q4 ’083.67%Q4 ’09+213%-63%

Executive Summary

  • Earnings: ROA of -6.99%, up 163 bps year over year; NIM at 2.05%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.47%.
  • Funding: loans stand at 95.63% of deposits as of Q4 2009.

Financial Results

Return on Assets (YTD, annualized)

-6.99%+163 bps YoY

Net Interest Margin (YTD, annualized)

2.05%-100 bps YoY

Efficiency Ratio (YTD, annualized)

178.21%+8,936 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-8.62%-3.31%-6.97%-7.99%-6.99%+163 bps
Return on Equity-59.28%-42.26%-101.46%-136.64%-138.11%-7,882 bps
Net Interest Margin3.05%1.80%1.93%2.01%2.05%-100 bps
Efficiency Ratio88.84%181.54%169.58%173.42%178.21%+8,936 bps
Non-Interest Burden9.87%3.24%3.28%3.50%3.66%-622 bps
Growth
Asset Growth (YoY)2.19%-3.21%-10.20%-15.26%-9.20%-1,138 bps
Loan Growth (YoY)5.85%-0.14%-8.20%-12.49%-10.25%-1,610 bps
Deposit Growth (YoY)16.52%15.31%-1.65%-0.31%-0.06%-1,658 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.99%2.63%3.67%5.50%4.47%+248 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 Capital10.98%10.39%7.52%4.67%3.62%-736 bps
Equity / Assetsn/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits106.50%100.20%98.81%95.18%95.63%-1,086 bps
Liquid Assets / Assets0.00%0.00%7.82%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a