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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

5.48%Q4 ’024.35%Q4 ’034.97%Q4 ’04-18%+19%

Non-interest income vs. expense

2.89%Q4 ’022.29%Q4 ’032.30%Q4 ’04-23%+0%

Executive Summary

  • Earnings: ROA of 2.26%, up 86 bps year over year; NIM at 3.97%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 92.40% of deposits as of Q4 2004.

Financial Results

Return on Assets (quarter, annualized)

2.26%+86 bps YoY

Net Interest Margin (quarter, annualized)

3.97%+64 bps YoY

Efficiency Ratio (quarter, annualized)

50.50%-812 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2003Q1 2004Q2 2004Q3 2004Q4 2004YoY ΔTrend
Earnings
Return on Assets1.40%1.49%1.64%1.18%2.26%+86 bps
Return on Equity19.02%20.24%22.54%15.83%28.04%+902 bps
Net Interest Margin3.33%3.58%3.47%3.66%3.97%+64 bps
Efficiency Ratio58.62%65.95%58.31%74.59%50.50%-812 bps
Non-Interest Burden1.71%2.14%1.75%2.57%1.72%0 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 / Loans0.27%0.00%0.02%0.02%-0.01%-28 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