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Bristol Bank

Coral Gables, FL · Cert 35045

FDIC

Q2 2006

$90.3MAssets
$61.3MLoans
$70.6MDeposits
$9.8MEquity
Loan mix
67%RE $30.3M30%C&I $13.6M3%Consumer $1.2MQ2 2005Q2 2006
Deposit mix
89%Interest-bearing $62.6M11%Noninterest $7.9MQ2 2005Q2 2006

NIM

5.29%Q2 ’045.18%Q2 ’056.32%Q2 ’06-20%+13%

Non-interest income vs. expense

3.41%Q2 ’043.17%Q2 ’053.80%Q2 ’06-7%+33%

Executive Summary

  • Earnings: ROA of -1.38%, down 70 bps year over year; NIM at 3.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Funding: loans stand at 86.80% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

-1.38%-70 bps YoY

Net Interest Margin (quarter, annualized)

3.09%+34 bps YoY

Efficiency Ratio (quarter, annualized)

110.12%+1,470 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets-0.68%0.02%0.03%-0.08%-1.38%-70 bps
Return on Equity-6.75%0.17%0.28%-0.71%-12.50%-575 bps
Net Interest Margin2.74%3.11%3.08%3.19%3.09%+34 bps
Efficiency Ratio95.41%95.94%103.48%100.24%110.12%+1,470 bps
Non-Interest Burden2.59%2.96%3.20%3.20%3.43%+84 bps
Growth
Asset Growth (YoY)19.53%22.67%4.58%0.02%7.94%-1,159 bps
Loan Growth (YoY)2.80%2.23%0.60%1.12%9.73%+692 bps
Deposit Growth (YoY)19.87%0.96%-12.39%-17.28%-4.92%-2,479 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans1.78%-0.08%-0.85%0.07%-0.01%-178 bps
Allowance / Loans1.08%1.07%1.19%1.22%1.21%+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 Capital14.72%15.24%15.13%15.24%14.07%-65 bps
Equity / Assets10.88%10.97%11.08%11.17%10.84%-4 bps
Liquidity & Funding
Loans / Deposits75.21%84.35%86.67%88.16%86.80%+1,159 bps
Liquid Assets / Assets24.76%31.34%31.10%30.04%28.74%+399 bps
CRE / Total Capitaln/an/an/an/an/an/an/a