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First National Bank

Orange Park, FL · Cert 34844

FDIC

Q4 2005

$118.0MAssets
$87.3MLoans
$95.8MDeposits
$20.1MEquity
Loan mix
56%RE $15.8M44%C&I $12.4M0%Consumer $0.0MQ4 2004Q4 2005
Deposit mix
85%Interest-bearing $81.5M15%Noninterest $14.2MQ4 2004Q4 2005

NIM

5.85%Q4 ’034.59%Q4 ’041.56%Q4 ’05-10%-72%

Non-interest income vs. expense

3.09%Q4 ’032.43%Q4 ’040.19%Q4 ’05-19%-96%

Executive Summary

  • Earnings: ROA of 0.09%, down 46 bps year over year; NIM at 1.01%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.83%.
  • Funding: loans stand at 91.17% of deposits as of Q4 2005.

Financial Results

Return on Assets (YTD, annualized)

0.09%-46 bps YoY

Net Interest Margin (YTD, annualized)

1.01%-261 bps YoY

Efficiency Ratio (YTD, annualized)

16.93%-3,994 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets0.55%1.36%1.29%1.28%0.09%-46 bps
Return on Equity5.07%12.00%11.40%11.34%0.69%-438 bps
Net Interest Margin3.62%4.42%4.48%4.51%1.01%-261 bps
Efficiency Ratio56.87%49.65%52.82%53.36%16.93%-3,994 bps
Non-Interest Burden2.08%2.16%2.36%2.41%0.08%-200 bps
Growth
Asset Growth (YoY)31.06%25.51%20.45%17.59%27.33%-373 bps
Loan Growth (YoY)27.10%25.48%25.15%19.22%15.19%-1,191 bps
Deposit Growth (YoY)31.48%23.48%19.16%21.62%19.83%-1,166 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.49%0.00%-0.01%0.10%0.83%+34 bps
Allowance / Loans1.49%1.44%1.38%1.31%1.62%+13 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 Capital11.19%11.18%11.25%11.53%11.25%+6 bps
Equity / Assets11.39%11.24%11.23%11.16%17.01%+563 bps
Liquidity & Funding
Loans / Deposits94.84%94.89%102.35%96.67%91.17%-367 bps
Liquid Assets / Assets0.00%0.00%0.55%0.54%0.47%+47 bps
CRE / Total Capitaln/an/an/an/an/an/an/a