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Heritage Bank of Florida

Lutz, FL · Cert 35009

FDIC

Q3 2012

$225.5MAssets
$181.3MLoans
$223.3MDeposits
$1.2MEquity
Loan mix
73%RE $116.8M24%C&I $38.3M3%Consumer $4.5MQ3 2011Q3 2012
Deposit mix
94%Interest-bearing $210.5M6%Noninterest $12.9MQ3 2011Q3 2012

NIM

4.71%Q3 ’104.48%Q3 ’114.16%Q3 ’12+12%-2%

Non-interest income vs. expense

1.76%Q3 ’102.27%Q3 ’112.55%Q3 ’12+50%+39%

Executive Summary

  • Earnings: ROA of -4.36%, down 300 bps year over year; NIM at 3.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.82%.
  • Funding: loans stand at 81.19% of deposits as of Q3 2012.

Financial Results

Return on Assets (YTD, annualized)

-4.36%-300 bps YoY

Net Interest Margin (YTD, annualized)

3.09%-5 bps YoY

Efficiency Ratio (YTD, annualized)

104.46%+3,159 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2011Q4 2011Q1 2012Q2 2012Q3 2012YoY ΔTrend
Earnings
Return on Assets-1.36%-1.93%0.00%-6.53%-4.36%-300 bps
Return on Equity-22.36%-34.09%0.00%-242%-201%-17,822 bps
Net Interest Margin3.14%3.16%3.17%3.10%3.09%-5 bps
Efficiency Ratio72.87%79.36%82.18%108.57%104.46%+3,159 bps
Non-Interest Burden2.30%2.51%2.64%3.29%3.20%+90 bps
Growth
Asset Growth (YoY)-8.20%-8.45%-5.94%-8.66%-8.61%-41 bps
Loan Growth (YoY)-6.58%-8.14%-8.33%-10.05%-9.71%-313 bps
Deposit Growth (YoY)-7.83%-5.69%-4.01%-3.76%-1.71%+612 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.30%3.19%7.51%6.72%4.82%+52 bps
Allowance / Loans3.92%4.48%2.92%5.42%5.27%+135 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 Capital6.26%6.04%6.08%1.40%1.46%-480 bps
Equity / Assets5.92%3.77%3.74%0.54%0.55%-536 bps
Liquidity & Funding
Loans / Deposits88.39%89.44%85.78%83.18%81.19%-720 bps
Liquid Assets / Assets7.40%5.29%2.25%4.53%7.20%-20 bps
CRE / Total Capitaln/an/an/an/an/an/an/a