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Horizon Bank

Bradenton, FL · Cert 35061

FDIC

Q2 2010

$187.8MAssets
$142.2MLoans
$164.6MDeposits
$5.1MEquity
Deposit mix
95%Interest-bearing $155.7M5%Noninterest $8.9MQ2 2009Q2 2010

NIM

6.51%Q2 ’085.96%Q2 ’094.75%Q2 ’10+3%-11%

Non-interest income vs. expense

2.24%Q2 ’082.51%Q2 ’093.41%Q2 ’10+22%+12%

Executive Summary

  • Earnings: ROA of 0.26%, up 1,309 bps year over year; NIM at 2.72%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.90%.
  • Funding: loans stand at 86.41% of deposits as of Q2 2010.

Financial Results

Return on Assets (quarter, annualized)

0.26%+1,309 bps YoY

Net Interest Margin (quarter, annualized)

2.72%-34 bps YoY

Efficiency Ratio (quarter, annualized)

95.60%+1,884 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2009Q3 2009Q4 2009Q1 2010Q2 2010YoY ΔTrend
Earnings
Return on Assets-12.84%0.34%-2.93%-3.77%0.26%+1,309 bps
Return on Equity-250%8.85%-79.94%-127.49%9.75%+26,017 bps
Net Interest Margin3.06%2.95%2.71%3.11%2.72%-34 bps
Efficiency Ratio76.76%79.10%76.78%98.12%95.60%+1,884 bps
Non-Interest Burden2.30%2.27%1.68%3.05%2.56%+27 bps
Growth
Asset Growth (YoY)1.67%-1.53%-4.75%-12.04%-8.98%-1,065 bps
Loan Growth (YoY)1.89%-2.51%-7.32%-14.40%-14.22%-1,611 bps
Deposit Growth (YoY)5.26%3.52%4.99%-5.19%-4.58%-984 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans12.34%1.17%5.86%5.67%0.90%-1,144 bps
Allowance / Loans3.08%2.82%3.01%3.57%3.51%+43 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 Capital6.66%6.86%4.92%3.06%3.14%-352 bps
Equity / Assets3.76%3.96%3.36%2.54%2.74%-102 bps
Liquidity & Funding
Loans / Deposits96.12%94.71%90.00%86.56%86.41%-971 bps
Liquid Assets / Assets9.05%9.80%9.11%8.72%8.42%-64 bps
CRE / Total Capitaln/an/an/an/an/an/an/a