PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Citrus Bank, N.A.

Vero Beach, FL · Cert 32918

FDIC

Q2 2008

$116.1MAssets
$72.0MLoans
$97.7MDeposits
$17.8MEquity
Loan mix
92%RE $52.7M8%C&I $4.8M0%Consumer $0.0MQ2 2007Q2 2008
Deposit mix
83%Interest-bearing $81.2M17%Noninterest $16.6MQ2 2007Q2 2008

NIM

6.88%Q2 ’066.89%Q2 ’075.28%Q2 ’08-10%-20%

Non-interest income vs. expense

3.82%Q2 ’064.08%Q2 ’074.26%Q2 ’08+20%+6%

Executive Summary

  • Earnings: ROA of -1.41%, down 269 bps year over year; NIM at 3.32%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.51%.
  • Funding: loans stand at 73.63% of deposits as of Q2 2008.

Financial Results

Return on Assets (quarter, annualized)

-1.41%-269 bps YoY

Net Interest Margin (quarter, annualized)

3.32%-83 bps YoY

Efficiency Ratio (quarter, annualized)

122.50%+2,869 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets1.28%-0.26%-0.20%-0.69%-1.41%-269 bps
Return on Equity8.43%-1.65%-1.26%-4.31%-9.13%-1,756 bps
Net Interest Margin4.15%3.47%3.85%3.40%3.32%-83 bps
Efficiency Ratio93.81%108.95%106.76%117.38%122.50%+2,869 bps
Non-Interest Burden3.88%3.80%4.12%4.03%4.10%+22 bps
Growth
Asset Growth (YoY)-3.46%-5.73%-7.93%-10.45%-10.63%-717 bps
Loan Growth (YoY)3.80%-15.38%-3.72%-7.83%-0.75%-455 bps
Deposit Growth (YoY)-3.33%-5.18%-1.25%-11.12%-8.13%-480 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.00%0.18%0.27%1.51%+151 bps
Allowance / Loans1.99%2.06%1.94%4.47%4.26%+227 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 Capital24.11%23.87%23.20%20.54%22.88%-122 bps
Equity / Assets15.30%16.15%16.29%15.65%15.31%+1 bps
Liquidity & Funding
Loans / Deposits68.15%67.95%68.90%70.90%73.63%+548 bps
Liquid Assets / Assets0.05%0.06%0.06%0.09%0.09%+4 bps
CRE / Total Capitaln/an/an/an/an/an/an/a