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Mercantile Bank

Saint Petersburg, FL · Cert 32473

FDIC

Q2 2002

$525.0MAssets
$317.3MLoans
$412.6MDeposits
$42.2MEquity
Loan mix
61%RE $77.6M38%C&I $49.3M1%Consumer $1.3MQ2 2001Q2 2002
Deposit mix
79%Interest-bearing $324.4M21%Noninterest $88.3MQ2 2001Q2 2002

NIM

7.41%Q1 ’017.21%Q2 ’016.03%Q2 ’02+4%+8%

Non-interest income vs. expense

3.37%Q1 ’012.95%Q2 ’012.93%Q2 ’02-14%+1%

Executive Summary

  • Earnings: ROA of 1.17%, up 18 bps year over year; NIM at 4.32%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 76.89% of deposits as of Q2 2002.

Financial Results

Return on Assets (quarter, annualized)

1.17%+18 bps YoY

Net Interest Margin (quarter, annualized)

4.32%+33 bps YoY

Efficiency Ratio (quarter, annualized)

59.87%-421 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2001Q3 2001Q4 2001Q1 2002Q2 2002YoY ΔTrend
Earnings
Return on Assets0.99%1.10%1.31%1.27%1.17%+18 bps
Return on Equity13.48%14.75%17.37%17.07%15.10%+162 bps
Net Interest Margin3.99%4.24%4.38%4.32%4.32%+33 bps
Efficiency Ratio64.09%61.73%59.88%62.29%59.87%-421 bps
Non-Interest Burden2.33%2.38%2.28%2.48%2.35%+2 bps
Growth
Asset Growth (YoY)16.07%14.88%13.46%12.57%4.90%-1,118 bps
Loan Growth (YoY)11.49%12.24%5.22%0.85%-3.80%-1,529 bps
Deposit Growth (YoY)9.56%7.82%8.59%8.80%2.39%-717 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.08%0.30%0.15%0.05%-0.01%-8 bps
Allowance / Loans1.03%1.00%1.02%1.09%1.18%+16 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 Capital10.71%10.93%11.05%11.40%12.13%+142 bps
Equity / Assets7.21%7.73%7.38%7.45%8.05%+84 bps
Liquidity & Funding
Loans / Deposits81.84%85.16%78.08%78.40%76.89%-495 bps
Liquid Assets / Assets0.11%0.07%0.13%0.09%0.08%-3 bps
CRE / Total Capitaln/an/an/an/an/an/an/a