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Marine Bank of the Florida Keys

Marathon, FL · Cert 33996

FDIC

Q3 2008

$393.7MAssets
$313.7MLoans
$304.7MDeposits
$39.2MEquity
Loan mix
93%RE $258.4M5%C&I $14.9M2%Consumer $4.9MQ3 2007Q3 2008
Deposit mix
89%Interest-bearing $270.8M11%Noninterest $33.9MQ3 2007Q3 2008

NIM

6.85%Q3 ’067.20%Q3 ’076.34%Q3 ’08-9%-8%

Non-interest income vs. expense

3.00%Q3 ’063.51%Q3 ’073.57%Q3 ’08+5%+7%

Executive Summary

  • Earnings: ROA of -0.50%, down 113 bps year over year; NIM at 3.37%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 1.09%.
  • Funding: loans stand at 102.95% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

-0.50%-113 bps YoY

Net Interest Margin (YTD, annualized)

3.37%-30 bps YoY

Efficiency Ratio (YTD, annualized)

85.25%+942 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.63%0.34%-1.88%-0.64%-0.50%-113 bps
Return on Equity6.30%3.38%-18.60%-6.32%-4.95%-1,126 bps
Net Interest Margin3.68%3.55%3.33%3.41%3.37%-30 bps
Efficiency Ratio75.83%76.20%89.49%83.24%85.25%+942 bps
Non-Interest Burden2.64%2.57%2.94%2.78%2.82%+18 bps
Growth
Asset Growth (YoY)10.62%7.47%4.21%5.35%4.87%-575 bps
Loan Growth (YoY)9.28%11.83%11.19%4.15%1.21%-807 bps
Deposit Growth (YoY)3.93%-4.25%-6.82%3.31%11.03%+710 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.07%0.37%1.22%1.09%+108 bps
Allowance / Loans1.13%1.58%2.46%2.03%2.10%+97 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 Capital11.64%11.45%11.33%11.78%11.80%+15 bps
Equity / Assets10.43%10.18%9.99%10.18%9.96%-47 bps
Liquidity & Funding
Loans / Deposits112.94%117.37%115.76%110.48%102.95%-999 bps
Liquid Assets / Assets0.17%0.28%0.23%0.52%1.09%+92 bps
CRE / Total Capitaln/an/an/an/an/an/an/a