PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Southern Community Bank

Orlando, FL · Cert 34828

FDIC

Q2 2004

$663.6MAssets
$506.2MLoans
$575.4MDeposits
$43.8MEquity
Loan mix
37%RE $54.2M62%C&I $89.2M1%Consumer $1.3MQ2 2003Q2 2004
Deposit mix
86%Interest-bearing $497.4M14%Noninterest $78.0MQ2 2003Q2 2004

NIM

6.39%Q2 ’025.97%Q2 ’035.14%Q2 ’04+7%-13%

Non-interest income vs. expense

2.49%Q2 ’022.08%Q2 ’031.63%Q2 ’04-16%-18%

Executive Summary

  • Earnings: ROA of 1.13%, up 10 bps year over year; NIM at 3.25%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.18%.
  • Funding: loans stand at 87.99% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

1.13%+10 bps YoY

Net Interest Margin (quarter, annualized)

3.25%-47 bps YoY

Efficiency Ratio (quarter, annualized)

46.89%-403 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets1.03%1.58%1.16%1.02%1.13%+10 bps
Return on Equity15.77%24.52%17.41%15.58%17.35%+158 bps
Net Interest Margin3.72%5.18%3.46%3.40%3.25%-47 bps
Efficiency Ratio50.92%50.20%49.17%49.30%46.89%-403 bps
Non-Interest Burden1.72%2.34%1.55%1.56%1.41%-31 bps
Growth
Asset Growth (YoY)12.95%74.95%71.41%91.62%60.73%+4,777 bps
Loan Growth (YoY)11.42%81.63%76.55%82.35%66.31%+5,489 bps
Deposit Growth (YoY)-5.43%59.51%56.15%79.34%77.98%+8,342 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.37%0.16%0.04%0.07%0.18%-18 bps
Allowance / Loans1.26%1.21%1.20%1.21%1.21%-5 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 Capital9.26%10.01%10.41%10.13%10.77%+152 bps
Equity / Assets6.22%6.60%6.70%6.46%6.60%+37 bps
Liquidity & Funding
Loans / Deposits94.16%92.86%93.57%85.56%87.99%-618 bps
Liquid Assets / Assets0.95%0.77%0.67%0.53%0.66%-28 bps
CRE / Total Capitaln/an/an/an/an/an/an/a