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First National Bank of Florida

Naples, FL · Cert 27538

FDIC

Q4 2004

$5.6BAssets
$3.9BLoans
$3.9BDeposits
$747.8MEquity
Loan mix
81%RE $1.3B18%C&I $0.3B0%Consumer $0.0BQ4 2003Q4 2004
Deposit mix
91%Interest-bearing $3.5B9%Noninterest $0.3BQ4 2003Q4 2004

NIM

5.66%Q4 ’025.97%Q4 ’034.67%Q4 ’04+11%-24%

Non-interest income vs. expense

3.22%Q4 ’023.31%Q4 ’033.72%Q4 ’04+9%+31%

Executive Summary

  • Earnings: ROA of -0.58%, down 187 bps year over year; NIM at 3.37%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.36%.
  • Funding: loans stand at 102.58% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

-0.58%-187 bps YoY

Net Interest Margin (quarter, annualized)

3.37%-107 bps YoY

Efficiency Ratio (quarter, annualized)

94.07%+3,242 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.29%0.99%1.03%0.77%-0.58%-187 bps
Return on Equity13.02%9.68%10.50%6.59%-4.38%-1,740 bps
Net Interest Margin4.44%3.50%3.43%3.36%3.37%-107 bps
Efficiency Ratio61.65%61.12%59.39%68.22%94.07%+3,242 bps
Non-Interest Burden2.44%1.88%1.79%2.14%3.20%+76 bps
Growth
Asset Growth (YoY)37.29%39.82%41.05%88.91%51.63%+1,435 bps
Loan Growth (YoY)24.44%25.19%25.10%70.85%59.88%+3,544 bps
Deposit Growth (YoY)28.47%29.92%29.73%72.89%41.29%+1,283 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.09%0.06%0.05%0.02%0.36%+27 bps
Allowance / Loans1.14%1.13%1.10%1.08%0.98%-15 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 Capital10.35%10.20%10.05%10.03%10.01%-34 bps
Equity / Assets10.47%10.03%9.60%13.22%13.25%+278 bps
Liquidity & Funding
Loans / Deposits90.65%87.18%90.38%95.33%102.58%+1,193 bps
Liquid Assets / Assets0.46%0.29%0.00%0.01%0.01%-45 bps
CRE / Total Capitaln/an/an/an/an/an/an/a