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Progress Bank of Florida

Tampa, FL · Cert 32251

FDIC

Q3 2010

$94.8MAssets
$81.0MLoans
$86.9MDeposits
$473KEquity
Deposit mix
96%Interest-bearing $83.3M4%Noninterest $3.5MQ3 2009Q3 2010

NIM

5.36%Q3 ’084.73%Q3 ’095.40%Q3 ’10-28%+60%

Non-interest income vs. expense

2.82%Q3 ’082.95%Q3 ’094.28%Q3 ’10+3%+39%

Executive Summary

  • Earnings: ROA of -3.69%, down 202 bps year over year; NIM at 2.87%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 12.63%.
  • Funding: loans stand at 93.24% of deposits as of Q3 2010.

Financial Results

Return on Assets (YTD, annualized)

-3.69%-202 bps YoY

Net Interest Margin (YTD, annualized)

2.87%+108 bps YoY

Efficiency Ratio (YTD, annualized)

145.29%-2,673 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2009Q4 2009Q1 2010Q2 2010Q3 2010YoY ΔTrend
Earnings
Return on Assets-1.67%-7.04%-1.03%-3.14%-3.69%-202 bps
Return on Equity-17.12%-83.81%-35.99%-128.63%-182.10%-16,498 bps
Net Interest Margin1.79%2.22%2.55%2.72%2.87%+108 bps
Efficiency Ratio172.01%147.97%117.88%135.80%145.29%-2,673 bps
Non-Interest Burden3.04%3.28%3.05%3.74%4.23%+119 bps
Growth
Asset Growth (YoY)28.29%20.17%9.27%-10.59%-24.66%-5,295 bps
Loan Growth (YoY)24.87%31.29%21.29%-10.84%-24.76%-4,963 bps
Deposit Growth (YoY)57.92%47.50%25.92%0.51%-19.26%-7,718 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.08%0.34%8.55%10.73%12.63%+1,255 bps
Allowance / Loans2.09%6.79%5.15%4.58%2.20%+11 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 Capital10.41%5.16%4.87%3.32%0.93%-948 bps
Equity / Assets8.23%3.10%2.62%1.55%0.50%-773 bps
Liquidity & Funding
Loans / Deposits100.05%101.27%96.82%86.08%93.24%-682 bps
Liquid Assets / Assets9.01%7.43%1.99%18.92%10.10%+109 bps
CRE / Total Capitaln/an/an/an/an/an/an/a