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Beach Bank

North Miami Beach, FL · Cert 35051

FDIC

Q3 2006

$127.1MAssets
$74.2MLoans
$116.3MDeposits
$9.1MEquity
Deposit mix
84%Interest-bearing $97.9M16%Noninterest $18.4MQ3 2005Q3 2006

NIM

4.82%Q3 ’046.21%Q3 ’056.37%Q3 ’06+32%-20%

Non-interest income vs. expense

4.18%Q3 ’045.89%Q3 ’053.94%Q3 ’06+119%-33%

Executive Summary

  • Earnings: ROA of -0.09%, up 158 bps year over year; NIM at 3.69%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.36%.
  • Funding: loans stand at 63.83% of deposits as of Q3 2006.

Financial Results

Return on Assets (quarter, annualized)

-0.09%+158 bps YoY

Net Interest Margin (quarter, annualized)

3.69%-92 bps YoY

Efficiency Ratio (quarter, annualized)

102.41%-1,987 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2005Q4 2005Q1 2006Q2 2006Q3 2006YoY ΔTrend
Earnings
Return on Assets-1.67%-3.50%-2.02%0.13%-0.09%+158 bps
Return on Equity-19.57%-40.46%-25.67%1.66%-1.18%+1,839 bps
Net Interest Margin4.62%4.29%3.92%3.91%3.69%-92 bps
Efficiency Ratio122.28%174.24%139.64%105.00%102.41%-1,987 bps
Non-Interest Burden5.69%7.61%5.56%4.11%3.79%-190 bps
Growth
Asset Growth (YoY)-10.82%-0.62%2.16%-12.15%8.58%+1,940 bps
Loan Growth (YoY)-14.72%-8.51%-7.90%-2.27%-2.90%+1,182 bps
Deposit Growth (YoY)4.67%13.15%3.70%-9.24%14.07%+939 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.04%-0.02%-0.01%-0.05%0.36%+32 bps
Allowance / Loans1.36%1.33%1.56%1.50%1.41%+5 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 Capital15.28%13.35%13.06%13.50%13.26%-202 bps
Equity / Assets9.20%8.09%7.63%7.56%7.18%-202 bps
Liquidity & Funding
Loans / Deposits74.99%81.96%72.92%68.31%63.83%-1,115 bps
Liquid Assets / Assets28.47%27.71%22.75%20.47%19.37%-910 bps
CRE / Total Capitaln/an/an/an/an/an/an/a