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Sarasota Bank

Sarasota, FL · Cert 33644

FDIC

Q3 2003

$187.0MAssets
$133.0MLoans
$153.3MDeposits
$12.7MEquity
Loan mix
64%RE $30.4M36%C&I $17.2M0%Consumer $0.1MQ3 2002Q3 2003
Deposit mix
92%Interest-bearing $140.3M8%Noninterest $13.0MQ3 2002Q3 2003

NIM

7.91%Q3 ’016.80%Q3 ’025.76%Q3 ’03+17%-12%

Non-interest income vs. expense

2.36%Q3 ’011.96%Q3 ’021.71%Q3 ’03-15%-15%

Executive Summary

  • Earnings: ROA of 0.75%, down 50 bps year over year; NIM at 3.78%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.31%.
  • Funding: loans stand at 86.77% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

0.75%-50 bps YoY

Net Interest Margin (quarter, annualized)

3.78%-50 bps YoY

Efficiency Ratio (quarter, annualized)

42.41%-95 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.25%1.20%1.20%1.49%0.75%-50 bps
Return on Equity17.33%15.82%15.85%20.01%10.47%-686 bps
Net Interest Margin4.28%4.33%3.97%3.82%3.78%-50 bps
Efficiency Ratio43.36%40.14%46.85%44.72%42.41%-95 bps
Non-Interest Burden1.72%1.59%1.74%1.59%1.46%-26 bps
Growth
Asset Growth (YoY)22.00%20.94%26.20%17.67%21.41%-59 bps
Loan Growth (YoY)13.65%17.42%22.82%23.96%20.94%+729 bps
Deposit Growth (YoY)19.39%17.49%19.72%13.42%19.28%-11 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.08%0.32%0.11%0.26%0.31%+23 bps
Allowance / Loans1.23%1.46%1.42%1.38%1.51%+28 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 Capital11.01%11.23%10.97%10.73%10.57%-44 bps
Equity / Assets7.37%7.75%7.42%7.50%6.82%-55 bps
Liquidity & Funding
Loans / Deposits85.59%88.68%91.68%97.01%86.77%+118 bps
Liquid Assets / Assets0.00%0.13%0.12%0.12%0.11%+11 bps
CRE / Total Capitaln/an/an/an/an/an/an/a