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Union Bank of Florida

Lauderhill, FL · Cert 32518

FDIC

Q4 2004

$1.0BAssets
$631.3MLoans
$683.3MDeposits
$85.1MEquity
Deposit mix
68%Interest-bearing $467.6M32%Noninterest $215.7MQ4 2003Q4 2004

NIM

5.18%Q4 ’024.34%Q4 ’034.47%Q4 ’04-14%+9%

Non-interest income vs. expense

2.65%Q4 ’022.46%Q4 ’032.56%Q4 ’04-8%+3%

Executive Summary

  • Earnings: ROA of 1.66%, up 41 bps year over year; NIM at 3.53%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 92.40% of deposits as of Q4 2004.

Financial Results

Return on Assets (YTD, annualized)

1.66%+41 bps YoY

Net Interest Margin (YTD, annualized)

3.53%+28 bps YoY

Efficiency Ratio (YTD, annualized)

62.09%-259 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.25%1.49%1.56%1.44%1.66%+41 bps
Return on Equity15.65%20.24%21.41%19.44%21.77%+613 bps
Net Interest Margin3.25%3.58%3.42%3.41%3.53%+28 bps
Efficiency Ratio64.69%65.95%62.07%66.51%62.09%-259 bps
Non-Interest Burden1.91%2.14%1.88%2.07%1.96%+6 bps
Growth
Asset Growth (YoY)24.81%25.46%24.27%21.28%11.35%-1,346 bps
Loan Growth (YoY)37.31%27.63%13.53%21.82%14.24%-2,307 bps
Deposit Growth (YoY)36.66%36.22%29.98%24.69%7.78%-2,888 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.10%0.00%0.01%0.02%0.01%-9 bps
Allowance / Loans1.02%1.05%1.06%1.00%1.00%-1 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 Capital10.52%10.56%11.76%11.44%11.66%+114 bps
Equity / Assets7.40%7.31%7.21%7.69%8.42%+102 bps
Liquidity & Funding
Loans / Deposits87.17%86.14%83.61%89.03%92.40%+523 bps
Liquid Assets / Assets0.07%2.47%4.65%2.51%0.15%+7 bps
CRE / Total Capitaln/an/an/an/an/an/an/a