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Sterling Bank

Lantana, FL · Cert 32536

FDIC

Q2 2010

$355.0MAssets
$224.6MLoans
$329.5MDeposits
$-4925KEquity
Loan mix
93%RE $127.4M7%C&I $9.0M0%Consumer $0.0MQ2 2009Q2 2010
Deposit mix
91%Interest-bearing $299.4M9%Noninterest $30.1MQ2 2009Q2 2010

NIM

5.98%Q2 ’084.62%Q2 ’093.71%Q2 ’10-30%-15%

Non-interest income vs. expense

2.53%Q2 ’082.76%Q2 ’093.31%Q2 ’10+7%+26%

Executive Summary

  • Earnings: ROA of -10.82%, down 869 bps year over year; NIM at 1.66%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 19.23%.
  • Funding: loans stand at 68.17% of deposits as of Q2 2010.

Financial Results

Return on Assets (quarter, annualized)

-10.82%-869 bps YoY

Net Interest Margin (quarter, annualized)

1.66%-30 bps YoY

Efficiency Ratio (quarter, annualized)

183.57%+5,871 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets-2.12%-4.86%-10.86%-6.88%-10.82%-869 bps
Return on Equity-32.08%-74.88%-242%-383%7131%+716,282 bps
Net Interest Margin1.96%1.98%2.03%1.73%1.66%-30 bps
Efficiency Ratio124.87%130.42%135.40%112.43%183.57%+5,871 bps
Non-Interest Burden2.51%2.65%2.75%2.02%3.16%+66 bps
Growth
Asset Growth (YoY)-0.94%-4.08%-3.62%-3.40%-6.38%-544 bps
Loan Growth (YoY)-11.44%-11.03%-11.16%-14.30%-18.91%-747 bps
Deposit Growth (YoY)-1.38%-2.81%1.29%2.73%4.39%+577 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans7.83%5.90%6.56%5.53%19.23%+1,140 bps
Allowance / Loans2.62%2.61%4.18%5.36%4.69%+207 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 Capital11.19%11.22%7.61%5.53%-1.34%-1,254 bps
Equity / Assets6.66%6.32%2.71%0.93%-1.39%-805 bps
Liquidity & Funding
Loans / Deposits87.76%84.11%74.65%65.95%68.17%-1,959 bps
Liquid Assets / Assets2.32%2.66%13.01%15.68%12.59%+1,028 bps
CRE / Total Capitaln/an/an/an/an/an/an/a