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Florida Citizens Bank

Ocala, FL · Cert 34869

FDIC · 7 branches

Q3 2015

$237.8MAssets
$168.2MLoans
$215.3MDeposits
$20.8MEquity
Loan mix
61%RE $89.0M35%C&I $51.4M3%Consumer $5.0MQ3 2014Q3 2015
Deposit mix
71%Interest-bearing $153.2M29%Noninterest $62.2MQ3 2014Q3 2015

NIM

3.72%Q3 ’133.95%Q3 ’143.79%Q3 ’15+22%-2%

Non-interest income vs. expense

3.29%Q3 ’133.32%Q3 ’143.50%Q3 ’15+11%-7%

Market Position · Gainesville, FL · 2015 SOD (annual) · 3.6% share · #8 of 18 inst. · $0.1B of $3.9B

3.7% Alachua
1.3% Marion

Executive Summary

  • Earnings: ROA of 0.51%, up 25 bps year over year; NIM at 3.22%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.44%.
  • Capital: tier 1 leverage ratio of 8.85%.
  • Funding: loans stand at 78.09% of deposits as of Q3 2015.

Financial Results

Return on Assets (quarter, annualized)

0.51%+25 bps YoY

Net Interest Margin (quarter, annualized)

3.22%-6 bps YoY

Efficiency Ratio (quarter, annualized)

87.37%-312 bps YoY

Tier 1 Leverage Ratio

8.85%

Discrete quarter, annualized.

MetricQ3 2014Q4 2014Q1 2015Q2 2015Q3 2015YoY ΔTrend
Earnings
Return on Assets0.27%0.09%0.61%0.37%0.51%+25 bps
Return on Equity3.32%1.09%7.06%4.20%5.85%+253 bps
Net Interest Margin3.28%3.15%3.24%3.24%3.22%-6 bps
Efficiency Ratio90.49%96.43%80.35%88.51%87.37%-312 bps
Non-Interest Burden2.93%3.02%2.45%2.79%2.72%-21 bps
Growth
Asset Growth (YoY)-6.61%-2.49%-3.61%-3.17%-0.21%+640 bps
Loan Growth (YoY)1.40%0.79%1.83%1.66%2.22%+82 bps
Deposit Growth (YoY)-7.56%-3.61%-4.83%-3.70%-0.86%+670 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.10%0.39%0.40%0.16%0.44%+54 bps
Allowance / Loans1.98%1.84%1.79%1.77%1.68%-30 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/a8.90%8.87%8.85%n/a
Total Risk-Based Capital13.05%12.86%12.63%12.71%12.94%-11 bps
Equity / Assets8.05%8.56%8.83%8.73%8.77%+72 bps
Liquidity & Funding
Loans / Deposits75.74%80.08%81.03%80.67%78.09%+236 bps
Liquid Assets / Assets7.55%7.58%8.98%9.91%13.01%+546 bps
CRE / Total Capitaln/an/an/an/an/an/an/a