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Pelican National Bank

Naples, FL · Cert 34288

FDIC

Q3 2006

$188.4MAssets
$117.9MLoans
$138.0MDeposits
$34.3MEquity
Loan mix
54%RE $32.9M45%C&I $27.5M0%Consumer $0.0MQ3 2005Q3 2006
Deposit mix
85%Interest-bearing $117.8M15%Noninterest $20.2MQ3 2005Q3 2006

NIM

4.33%Q3 ’045.27%Q3 ’053.74%Q3 ’06+8%-28%

Non-interest income vs. expense

2.76%Q3 ’043.41%Q3 ’051.53%Q3 ’06+23%-56%

Executive Summary

  • Earnings: ROA of 0.34%, up 84 bps year over year; NIM at 1.96%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.27%.
  • Funding: loans stand at 85.41% of deposits as of Q3 2006.

Financial Results

Return on Assets (YTD, annualized)

0.34%+84 bps YoY

Net Interest Margin (YTD, annualized)

1.96%-77 bps YoY

Efficiency Ratio (YTD, annualized)

70.65%-4,705 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets-0.50%-0.51%-2.17%0.17%0.34%+84 bps
Return on Equity-6.74%-6.47%-23.63%1.41%2.48%+922 bps
Net Interest Margin2.73%2.80%2.62%1.26%1.96%-77 bps
Efficiency Ratio117.70%121.77%169.09%76.48%70.65%-4,705 bps
Non-Interest Burden3.25%3.44%4.55%1.00%1.42%-182 bps
Growth
Asset Growth (YoY)-24.82%-9.33%-2.47%-6.27%-3.18%+2,165 bps
Loan Growth (YoY)2.48%-16.44%22.08%4.46%8.85%+637 bps
Deposit Growth (YoY)-33.14%5.85%-7.15%-9.85%-10.57%+2,257 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.52%0.45%0.83%-0.06%0.27%-25 bps
Allowance / Loans0.90%1.04%0.73%0.89%0.69%-21 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 Capital15.05%20.66%13.44%15.67%15.35%+30 bps
Equity / Assets7.36%9.87%8.54%17.48%18.19%+1,083 bps
Liquidity & Funding
Loans / Deposits70.18%62.38%100.90%88.11%85.41%+1,523 bps
Liquid Assets / Assets0.45%0.58%0.03%0.01%0.01%-44 bps
CRE / Total Capitaln/an/an/an/an/an/an/a