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Sunshine State Federal Savings & Loan Association

Plant City, FL · Cert 30750

FDIC · 18 branches

Q4 2017

$944.8MAssets
$706.0MLoans
$723.1MDeposits
$122.4MEquity
Loan mix
79%RE $406.9M20%C&I $104.3M0%Consumer $2.3MQ4 2016Q4 2017
Deposit mix
68%Interest-bearing $491.6M32%Noninterest $231.5MQ4 2016Q4 2017

NIM

3.58%Q4 ’153.73%Q4 ’163.92%Q4 ’17+5%+3%

Non-interest income vs. expense

5.49%Q4 ’153.89%Q4 ’167.40%Q4 ’17-31%+97%

Market Position · Tampa-St. Petersburg-Clearwater, FL · 2017 SOD (annual) · 0.4% share · #24 of 63 inst. · $0.3B of $81.9B

1.0% Hillsborough
1.4% Brevard
1.7% Polk
0.4% Orange

Executive Summary

  • Earnings: ROA of -2.96%, down 282 bps year over year; NIM at 3.66%.
  • Asset quality: problem loans at 0.25% of loans (+25 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 11.06%, down 104 bps from a year ago.
  • Funding: loans stand at 97.64% of deposits as of Q4 2017.

Financial Results

Return on Assets (quarter, annualized)

-2.96%-282 bps YoY

Net Interest Margin (quarter, annualized)

3.66%+9 bps YoY

Efficiency Ratio (quarter, annualized)

183.95%+8,299 bps YoY

Tier 1 Leverage Ratio

11.06%-104 bps YoY

Discrete quarter, annualized.

MetricQ4 2016Q1 2017Q2 2017Q3 2017Q4 2017YoY ΔTrend
Earnings
Return on Assets-0.14%0.76%0.82%0.73%-2.96%-282 bps
Return on Equity-1.09%6.14%6.61%5.76%-22.86%-2,176 bps
Net Interest Margin3.57%3.39%3.58%3.64%3.66%+9 bps
Efficiency Ratio100.97%66.53%66.34%69.51%183.95%+8,299 bps
Non-Interest Burden3.54%2.09%2.20%2.38%6.97%+343 bps
Growth
Asset Growth (YoY)83.54%82.78%85.75%67.35%1.55%-8,199 bps
Loan Growth (YoY)108.61%103.71%88.91%76.92%2.69%-10,592 bps
Deposit Growth (YoY)78.46%81.56%93.22%70.33%-1.40%-7,985 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.08%0.10%0.16%0.25%+25 bps
Net Charge-Offs / Loans-0.25%-0.21%-0.02%-0.02%-0.03%+22 bps
Allowance / Loans0.48%0.52%0.52%0.52%0.53%+6 bps
Allowance Coverage of NPLsn/a6.2x5.2x3.3x2.1xn/a
Capital
Tier 1 Leverage Ratio12.10%10.30%10.59%10.70%11.06%-104 bps
Total Risk-Based Capital13.39%13.21%13.43%13.67%13.69%+30 bps
Equity / Assets12.45%12.34%12.58%12.94%12.95%+51 bps
Liquidity & Funding
Loans / Deposits93.75%89.56%90.75%93.62%97.64%+388 bps
Liquid Assets / Assets2.60%3.50%2.31%1.16%0.96%-164 bps
CRE / Total Capitaln/an/an/an/an/an/an/a