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Coquina Bank

Ormond Beach, FL · Cert 34675

FDIC

Q2 2004

$114.6MAssets
$90.4MLoans
$100.5MDeposits
$11.4MEquity
Loan mix
45%RE $21.3M55%C&I $25.6M0%Consumer $0.0MQ2 2003Q2 2004
Deposit mix
76%Interest-bearing $75.9M24%Noninterest $24.6MQ2 2003Q2 2004

NIM

6.10%Q2 ’025.51%Q2 ’035.08%Q2 ’04+1%-3%

Non-interest income vs. expense

2.54%Q2 ’022.45%Q2 ’032.13%Q2 ’04-8%-2%

Executive Summary

  • Earnings: ROA of 0.66%, down 70 bps year over year; NIM at 4.18%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.34%.
  • Funding: loans stand at 89.93% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

0.66%-70 bps YoY

Net Interest Margin (quarter, annualized)

4.18%-14 bps YoY

Efficiency Ratio (quarter, annualized)

48.37%-241 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.36%1.32%1.39%1.23%0.66%-70 bps
Return on Equity12.97%12.33%12.71%11.73%6.65%-632 bps
Net Interest Margin4.33%4.36%4.35%4.36%4.18%-14 bps
Efficiency Ratio50.78%52.39%48.41%51.73%48.37%-241 bps
Non-Interest Burden1.95%2.10%1.94%2.11%1.91%-5 bps
Growth
Asset Growth (YoY)18.90%10.96%8.75%18.17%15.29%-361 bps
Loan Growth (YoY)19.54%17.12%15.77%24.80%23.41%+387 bps
Deposit Growth (YoY)18.48%17.46%16.65%20.98%15.64%-284 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.04%-0.01%0.04%0.00%0.34%+30 bps
Allowance / Loans1.29%1.29%1.29%1.28%1.59%+30 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 Capital14.07%13.84%13.84%13.11%12.79%-128 bps
Equity / Assets10.57%10.88%11.03%10.01%9.95%-61 bps
Liquidity & Funding
Loans / Deposits84.27%90.81%93.94%93.40%89.93%+566 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a