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First Security Bank

Sarasota, FL · Cert 35012

FDIC

Q2 2005

$132.8MAssets
$109.5MLoans
$83.5MDeposits
$21.9MEquity
Loan mix
58%RE $24.1M42%C&I $17.7M0%Consumer $0.0MQ2 2004Q2 2005
Deposit mix
82%Interest-bearing $68.7M18%Noninterest $14.8MQ2 2004Q2 2005

NIM

3.45%Q2 ’034.76%Q2 ’045.48%Q2 ’05+52%+14%

Non-interest income vs. expense

1.44%Q2 ’032.62%Q2 ’042.68%Q2 ’05+86%+2%

Executive Summary

  • Earnings: ROA of 0.32%, up 19 bps year over year; NIM at 3.56%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 131.13% of deposits as of Q2 2005.

Financial Results

Return on Assets (YTD, annualized)

0.32%+19 bps YoY

Net Interest Margin (YTD, annualized)

3.56%+43 bps YoY

Efficiency Ratio (YTD, annualized)

72.94%-793 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2004Q3 2004Q4 2004Q1 2005Q2 2005YoY ΔTrend
Earnings
Return on Assets0.13%0.28%0.40%0.16%0.32%+19 bps
Return on Equity0.69%1.52%2.21%0.97%1.96%+128 bps
Net Interest Margin3.13%3.06%3.09%3.59%3.56%+43 bps
Efficiency Ratio80.86%75.41%70.34%80.34%72.94%-793 bps
Non-Interest Burden2.57%2.34%2.20%2.90%2.61%+4 bps
Growth
Asset Growth (YoY)11.26%12.25%29.03%33.28%25.17%+1,391 bps
Loan Growth (YoY)15.95%11.95%38.82%43.99%38.05%+2,210 bps
Deposit Growth (YoY)14.15%10.65%10.89%21.88%-3.27%-1,741 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.02%0.00%0.00%0 bps
Allowance / Loans1.64%1.56%1.34%1.42%1.53%-11 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 Capital10.21%10.57%10.20%10.04%10.17%-4 bps
Equity / Assets18.17%17.72%16.68%16.15%16.46%-171 bps
Liquidity & Funding
Loans / Deposits91.89%97.83%119.80%113.08%131.13%+3,925 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