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Independent Community Bank

Tequesta, FL · Cert 34649

FDIC

Q4 2006

$136.5MAssets
$110.9MLoans
$108.7MDeposits
$14.5MEquity
Loan mix
61%RE $13.4M38%C&I $8.4M0%Consumer $0.0MQ4 2005Q4 2006
Deposit mix
85%Interest-bearing $92.0M15%Noninterest $16.7MQ4 2005Q4 2006

NIM

5.15%Q4 ’046.86%Q4 ’057.88%Q4 ’06+22%+0%

Non-interest income vs. expense

2.26%Q4 ’042.10%Q4 ’052.36%Q4 ’06-9%+15%

Executive Summary

  • Earnings: ROA of 1.45%, up 30 bps year over year; NIM at 4.58%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 101.99% of deposits as of Q4 2006.

Financial Results

Return on Assets (quarter, annualized)

1.45%+30 bps YoY

Net Interest Margin (quarter, annualized)

4.58%+1 bps YoY

Efficiency Ratio (quarter, annualized)

50.46%+579 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets1.15%1.48%1.68%1.54%1.45%+30 bps
Return on Equity13.15%16.73%17.18%14.36%13.24%+9 bps
Net Interest Margin4.57%4.54%4.58%4.75%4.58%+1 bps
Efficiency Ratio44.67%46.95%43.23%49.07%50.46%+579 bps
Non-Interest Burden1.97%2.08%1.92%2.28%2.26%+29 bps
Growth
Asset Growth (YoY)36.86%13.61%-2.54%-4.64%-6.76%-4,362 bps
Loan Growth (YoY)35.69%22.79%5.08%2.62%1.63%-3,405 bps
Deposit Growth (YoY)37.50%10.90%-2.46%-7.60%-12.39%-4,989 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.37%1.37%1.38%1.39%1.35%-2 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 Capital11.74%12.48%12.88%13.50%13.55%+180 bps
Equity / Assets8.31%9.47%10.10%11.33%10.63%+232 bps
Liquidity & Funding
Loans / Deposits87.92%97.26%101.60%108.71%101.99%+1,407 bps
Liquid Assets / Assets16.23%8.26%6.14%1.73%8.64%-759 bps
CRE / Total Capitaln/an/an/an/an/an/an/a