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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

5.33%Q2 ’034.78%Q2 ’045.62%Q2 ’05-3%+12%

Non-interest income vs. expense

2.17%Q2 ’032.58%Q2 ’042.42%Q2 ’05+21%-7%

Executive Summary

  • Earnings: ROA of 0.48%, up 22 bps year over year; NIM at 3.57%.
  • 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 (quarter, annualized)

0.48%+22 bps YoY

Net Interest Margin (quarter, annualized)

3.57%+39 bps YoY

Efficiency Ratio (quarter, annualized)

65.58%-1,279 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2004Q3 2004Q4 2004Q1 2005Q2 2005YoY ΔTrend
Earnings
Return on Assets0.26%0.57%0.71%0.16%0.48%+22 bps
Return on Equity1.37%3.17%4.15%0.97%2.95%+158 bps
Net Interest Margin3.18%3.35%3.53%3.59%3.57%+39 bps
Efficiency Ratio78.38%65.89%57.71%80.34%65.58%-1,279 bps
Non-Interest Burden2.53%2.23%2.04%2.90%2.34%-18 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%0.06%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