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Florida Bank, National Association

Tampa, FL · Cert 27301

FDIC

Q2 2004

$1.0BAssets
$823.0MLoans
$872.3MDeposits
$76.9MEquity
Loan mix
54%RE $192.7M44%C&I $156.8M1%Consumer $4.6MQ2 2003Q2 2004
Deposit mix
84%Interest-bearing $735.1M16%Noninterest $137.2MQ2 2003Q2 2004

NIM

5.95%Q2 ’024.84%Q2 ’034.63%Q2 ’04-9%+2%

Non-interest income vs. expense

2.31%Q2 ’023.22%Q2 ’033.05%Q2 ’04-39%+86%

Executive Summary

  • Earnings: ROA of -0.81%, down 173 bps year over year; NIM at 3.03%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.95%.
  • Funding: loans stand at 94.35% of deposits as of Q2 2004.

Financial Results

Return on Assets (YTD, annualized)

-0.81%-173 bps YoY

Net Interest Margin (YTD, annualized)

3.03%+7 bps YoY

Efficiency Ratio (YTD, annualized)

77.92%+1,378 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets0.91%0.86%0.88%0.45%-0.81%-173 bps
Return on Equity11.15%10.60%10.67%5.28%-10.02%-2,117 bps
Net Interest Margin2.97%2.87%2.92%3.17%3.03%+7 bps
Efficiency Ratio64.14%65.09%64.90%64.19%77.92%+1,378 bps
Non-Interest Burden1.17%1.26%1.31%1.58%2.17%+100 bps
Growth
Asset Growth (YoY)45.27%42.00%25.39%18.26%12.01%-3,326 bps
Loan Growth (YoY)50.93%42.89%25.26%18.80%12.24%-3,869 bps
Deposit Growth (YoY)45.60%44.05%19.77%18.36%13.41%-3,219 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.30%0.20%0.15%0.95%1.95%+165 bps
Allowance / Loans1.09%1.17%1.20%1.15%1.44%+35 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 Capital11.06%11.20%11.41%10.66%9.89%-117 bps
Equity / Assets8.20%8.01%8.62%8.33%7.49%-71 bps
Liquidity & Funding
Loans / Deposits95.33%89.94%94.46%97.77%94.35%-98 bps
Liquid Assets / Assets0.00%0.01%0.00%0.00%0.96%+96 bps
CRE / Total Capitaln/an/an/an/an/an/an/a