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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

6.53%Q4 ’075.44%Q4 ’084.04%Q4 ’09-24%-24%

Non-interest income vs. expense

3.57%Q4 ’0731.28%Q4 ’083.58%Q4 ’09+892%-88%

Executive Summary

  • Earnings: ROA of -3.77%, up 2,875 bps year over year; NIM at 1.88%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.01%.
  • Funding: loans stand at 95.63% of deposits as of Q4 2009.

Financial Results

Return on Assets (quarter, annualized)

-3.77%+2,875 bps YoY

Net Interest Margin (quarter, annualized)

1.88%-60 bps YoY

Efficiency Ratio (quarter, annualized)

194.87%+8,851 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2008Q1 2009Q2 2009Q3 2009Q4 2009YoY ΔTrend
Earnings
Return on Assets-32.51%-3.31%-10.60%-10.05%-3.77%+2,875 bps
Return on Equity-272%-42.26%-172.44%-267%-178.11%+9,426 bps
Net Interest Margin2.47%1.80%2.03%2.12%1.88%-60 bps
Efficiency Ratio106.36%181.54%159.30%180.31%194.87%+8,851 bps
Non-Interest Burden31.04%3.24%3.27%3.87%3.62%-2,742 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 / Loans3.64%2.63%4.68%8.81%1.01%-264 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