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Putnam State Bank

Palatka, FL · Cert 27405

FDIC

Q1 2012

$169.5MAssets
$111.5MLoans
$160.0MDeposits
$189KEquity
Loan mix
67%RE $49.5M30%C&I $22.1M3%Consumer $2.1MQ1 2011Q1 2012
Deposit mix
92%Interest-bearing $146.8M8%Noninterest $13.2MQ1 2011Q1 2012

NIM

4.44%Q1 ’104.25%Q1 ’113.72%Q1 ’12+21%-10%

Non-interest income vs. expense

3.04%Q1 ’103.54%Q1 ’114.58%Q1 ’12+1%+79%

Executive Summary

  • Earnings: ROA of -7.66%, down 750 bps year over year; NIM at 2.90%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.65%.
  • Funding: loans stand at 69.70% of deposits as of Q1 2012.

Financial Results

Return on Assets (quarter, annualized)

-7.66%-750 bps YoY

Net Interest Margin (quarter, annualized)

2.90%-33 bps YoY

Efficiency Ratio (quarter, annualized)

315%+21,055 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ1 2011Q2 2011Q3 2011Q4 2011Q1 2012YoY ΔTrend
Earnings
Return on Assets-0.16%0.49%-2.75%-5.96%-7.66%-750 bps
Return on Equity-4.50%13.16%-71.65%-202%-695%-69,021 bps
Net Interest Margin3.23%3.49%3.49%2.66%2.90%-33 bps
Efficiency Ratio104.09%87.44%455%217%315%+21,055 bps
Non-Interest Burden3.37%3.00%6.60%4.64%6.03%+265 bps
Growth
Asset Growth (YoY)-10.53%-7.36%-4.20%-2.35%-5.29%+524 bps
Loan Growth (YoY)-14.39%-12.04%-5.91%-7.14%-5.32%+907 bps
Deposit Growth (YoY)-11.97%-7.55%-3.82%-0.79%-3.01%+896 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans7.13%0.50%3.29%0.55%4.65%-248 bps
Allowance / Loans4.09%4.00%3.21%4.91%5.67%+158 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 Capital6.38%6.51%5.68%3.92%0.36%-602 bps
Equity / Assets3.51%3.90%3.78%2.08%0.11%-339 bps
Liquidity & Funding
Loans / Deposits71.40%69.20%71.19%71.87%69.70%-170 bps
Liquid Assets / Assets8.95%8.52%8.34%11.24%10.36%+142 bps
CRE / Total Capitaln/an/an/an/an/an/an/a