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First Florida Bank

Naples, FL · Cert 35105

FDIC

Q1 2008

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q1 2008, the quarter ended March 31, 2008, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

First Florida Bank

Naples, FL · Cert 35105

FDIC

Q1 2008

$399.9MAssets
$285.9MLoans
$308.9MDeposits
$88.8MEquity
Loan mix
94%RE $191.9M5%C&I $10.2M1%Consumer $2.5MQ1 2007Q1 2008
Deposit mix
99%Interest-bearing $305.2M1%Noninterest $3.7MQ1 2007Q1 2008

NIM

7.79%Q1 ’067.14%Q1 ’074.86%Q1 ’08-22%-68%

Non-interest income vs. expense

1.62%Q1 ’062.10%Q1 ’073.68%Q1 ’08+28%+95%

Executive Summary

  • Earnings: ROA of -13.48%, down 1,399 bps year over year; NIM at 1.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 24.35%.
  • Funding: loans stand at 92.56% of deposits as of Q1 2008.

Financial Results

Return on Assets (YTD, annualized)

-13.48%-1,399 bps YoY

Net Interest Margin (YTD, annualized)

1.13%-239 bps YoY

Efficiency Ratio (YTD, annualized)

396%+33,842 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets0.51%-0.59%-4.65%-4.36%-13.48%-1,399 bps
Return on Equity2.23%-2.58%-20.59%-19.67%-63.23%-6,546 bps
Net Interest Margin3.52%3.40%2.98%2.66%1.13%-239 bps
Efficiency Ratio58.06%67.37%85.32%105.33%396%+33,842 bps
Non-Interest Burden2.00%2.29%2.55%2.98%3.89%+189 bps
Growth
Asset Growth (YoY)21.65%4.28%-2.64%-4.68%-9.16%-3,081 bps
Loan Growth (YoY)0.55%2.55%-4.32%-7.84%-17.92%-1,847 bps
Deposit Growth (YoY)5.02%-1.50%-5.81%-2.58%-8.58%-1,360 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.04%7.17%7.81%24.35%+2,435 bps
Allowance / Loans1.31%2.37%3.90%2.81%3.87%+256 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 Capital11.14%11.97%10.35%10.26%11.53%+40 bps
Equity / Assets22.88%22.94%21.95%20.49%22.20%-67 bps
Liquidity & Funding
Loans / Deposits103.09%110.05%107.06%92.44%92.56%-1,053 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