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Letter portraitLegal landscapeQuarterYTD

Hernando County Bank, The

Brooksville, FL · Cert 27135

FDIC

Q4 2007

$54.4MAssets
$41.7MLoans
$48.7MDeposits
$3.6MEquity
Deposit mix
79%Interest-bearing $38.7M21%Noninterest $10.0MQ4 2006Q4 2007

NIM

5.52%Q4 ’056.61%Q4 ’066.08%Q4 ’07+8%-21%

Non-interest income vs. expense

3.46%Q4 ’054.28%Q4 ’064.15%Q4 ’07+23%-3%

Executive Summary

  • Earnings: ROA of 0.87%, down 75 bps year over year; NIM at 3.86%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 85.73% of deposits as of Q4 2007.

Financial Results

Return on Assets (YTD, annualized)

0.87%-75 bps YoY

Net Interest Margin (YTD, annualized)

3.86%-100 bps YoY

Efficiency Ratio (YTD, annualized)

82.58%+1,213 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 Assets1.62%1.09%1.03%0.94%0.87%-75 bps
Return on Equity25.34%16.34%15.38%14.02%13.03%-1,231 bps
Net Interest Margin4.85%4.13%4.04%3.92%3.86%-100 bps
Efficiency Ratio70.46%79.15%80.28%81.62%82.58%+1,213 bps
Non-Interest Burden3.06%3.02%3.01%2.99%2.98%-8 bps
Growth
Asset Growth (YoY)-16.49%-10.34%-5.52%0.19%2.54%+1,903 bps
Loan Growth (YoY)-4.60%-7.38%-10.01%-5.69%-7.80%-320 bps
Deposit Growth (YoY)-20.65%-14.49%-9.40%-3.30%2.83%+2,348 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.01%0.00%0 bps
Allowance / Loans0.55%0.56%0.58%0.59%0.60%+5 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 Capital11.66%12.04%12.39%12.61%12.36%+70 bps
Equity / Assets6.58%6.72%6.71%6.76%6.65%+7 bps
Liquidity & Funding
Loans / Deposits95.62%91.94%90.69%88.27%85.73%-989 bps
Liquid Assets / Assets1.86%4.34%6.12%7.03%6.75%+489 bps
CRE / Total Capitaln/an/an/an/an/an/an/a