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Letter portraitLegal landscapeQuarterYTD

Gateway American Bank of Florida

Fort Lauderdale, FL · Cert 27193

FDIC

Q2 2004

$114.1MAssets
$75.6MLoans
$87.6MDeposits
$14.0MEquity
Deposit mix
81%Interest-bearing $71.1M19%Noninterest $16.5MQ2 2003Q2 2004

NIM

6.40%Q2 ’025.60%Q2 ’034.92%Q2 ’04+10%-17%

Non-interest income vs. expense

4.06%Q2 ’024.55%Q2 ’033.00%Q2 ’04-1%-24%

Executive Summary

  • Earnings: ROA of 0.03%, down 98 bps year over year; NIM at 3.76%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.11%.
  • Funding: loans stand at 86.33% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

0.03%-98 bps YoY

Net Interest Margin (quarter, annualized)

3.76%-75 bps YoY

Efficiency Ratio (quarter, annualized)

67.94%-921 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.01%0.44%0.80%0.72%0.03%-98 bps
Return on Equity8.36%3.51%6.57%5.87%0.26%-811 bps
Net Interest Margin4.51%4.42%4.42%4.12%3.76%-75 bps
Efficiency Ratio77.16%82.02%70.40%85.03%67.94%-921 bps
Non-Interest Burden3.37%3.68%3.12%3.59%2.57%-80 bps
Growth
Asset Growth (YoY)8.59%10.58%12.77%1.09%5.15%-344 bps
Loan Growth (YoY)20.23%14.29%21.77%-4.11%-10.55%-3,079 bps
Deposit Growth (YoY)-0.03%-1.44%-7.87%-3.79%2.28%+231 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.12%-0.02%-0.05%0.06%-0.11%-223 bps
Allowance / Loans1.53%1.56%1.49%1.32%1.52%0 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 Capital10.33%10.99%10.67%11.75%12.39%+206 bps
Equity / Assets12.39%12.58%11.93%12.45%12.25%-13 bps
Liquidity & Funding
Loans / Deposits98.72%102.13%112.94%101.00%86.33%-1,239 bps
Liquid Assets / Assets0.10%0.11%0.03%0.04%0.01%-9 bps
CRE / Total Capitaln/an/an/an/an/an/an/a