PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

First National Bank of Nassau County

Fernandina Beach, FL · Cert 35049

FDIC

Q2 2008

$260.1MAssets
$190.1MLoans
$194.3MDeposits
$33.4MEquity
Loan mix
96%RE $165.4M4%C&I $6.3M1%Consumer $1.3MQ2 2007Q2 2008
Deposit mix
93%Interest-bearing $180.5M7%Noninterest $13.8MQ2 2007Q2 2008

NIM

6.30%Q2 ’066.93%Q2 ’075.50%Q2 ’080%-27%

Non-interest income vs. expense

2.31%Q2 ’062.36%Q2 ’073.16%Q2 ’08-2%-11%

Executive Summary

  • Earnings: ROA of 0.48%, down 50 bps year over year; NIM at 2.42%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.18%.
  • Funding: loans stand at 97.82% of deposits as of Q2 2008.

Financial Results

Return on Assets (YTD, annualized)

0.48%-50 bps YoY

Net Interest Margin (YTD, annualized)

2.42%-89 bps YoY

Efficiency Ratio (YTD, annualized)

75.91%+1,925 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets0.99%0.85%0.87%0.61%0.48%-50 bps
Return on Equity7.41%6.29%6.46%4.55%3.67%-374 bps
Net Interest Margin3.31%3.22%3.18%2.53%2.42%-89 bps
Efficiency Ratio56.66%59.54%60.78%74.52%75.91%+1,925 bps
Non-Interest Burden1.74%1.82%1.80%1.56%1.55%-19 bps
Growth
Asset Growth (YoY)5.61%6.28%3.92%7.32%12.76%+714 bps
Loan Growth (YoY)6.22%6.05%9.40%30.10%29.34%+2,312 bps
Deposit Growth (YoY)6.61%8.83%5.68%2.41%6.09%-53 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.06%0.04%0.05%0.35%0.18%+12 bps
Allowance / Loans1.22%1.25%1.17%1.01%1.15%-7 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 Capital13.28%13.13%13.69%13.73%13.24%-4 bps
Equity / Assets13.68%13.77%13.64%13.06%12.86%-83 bps
Liquidity & Funding
Loans / Deposits80.23%82.49%90.84%97.03%97.82%+1,759 bps
Liquid Assets / Assets5.75%5.26%0.62%0.23%0.02%-573 bps
CRE / Total Capitaln/an/an/an/an/an/an/a