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Firstatlantic Bank

Jacksonville, FL · Cert 35200

FDIC · 8 branches

Q4 2017

$436.1MAssets
$310.6MLoans
$377.0MDeposits
$56.5MEquity
Loan mix
89%RE $199.0M10%C&I $23.3M1%Consumer $2.2MQ1 2016Q4 2017
Deposit mix
70%Interest-bearing $263.0M30%Noninterest $114.0MQ1 2016Q4 2017

Market Position · Jacksonville, FL · 2017 SOD (annual) · 0.6% share · #14 of 36 inst. · $0.4B of $58.9B

0.5% Duval
4.1% Clay
1.4% St. Johns

Executive Summary

  • Earnings: ROA of 0.30%, down 66 bps year over year; NIM at 3.77%.
  • Asset quality: problem loans at 0.15% of loans (+15 bps YoY), with net recoveries of 0.33%.
  • Capital: tier 1 leverage ratio of 12.52%, up 44 bps from a year ago.
  • Funding: loans stand at 82.40% of deposits as of Q4 2017.

Return on Assets (quarter, annualized)

0.30%-66 bps YoY

Net Interest Margin (quarter, annualized)

3.77%-31 bps YoY

Efficiency Ratio (quarter, annualized)

74.14%+1,298 bps YoY

Tier 1 Leverage Ratio

12.52%+44 bps YoY

NIM

4.26%Q4 ’154.41%Q4 ’164.20%Q4 ’17+4%-8%

Non-interest income vs. expense

2.81%Q4 ’152.72%Q4 ’163.09%Q4 ’17-1%+13%

Discrete quarter, annualized.

MetricQ1 2016Q2 2016Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017Q4 2017YoY ΔTrend
Earnings
Return on Assets0.75%0.98%0.84%0.97%0.70%0.95%1.20%0.30%-66 bps
Return on Equity5.78%7.51%6.39%7.62%5.78%7.90%9.94%2.41%-522 bps
Net Interest Margin3.89%3.92%3.89%4.08%3.69%3.86%3.88%3.77%-31 bps
Efficiency Ratio66.26%66.03%65.58%61.17%68.85%61.57%62.98%74.14%+1,298 bps
Non-Interest Burden2.53%2.55%2.51%2.45%2.51%2.30%2.38%2.77%+32 bps
Growth
Asset Growth (YoY)8.17%3.92%-2.30%4.00%6.26%7.40%6.77%-0.20%-420 bps
Loan Growth (YoY)7.44%10.04%7.28%3.39%3.21%3.01%3.56%-0.02%-341 bps
Deposit Growth (YoY)5.30%0.04%-8.60%0.54%11.02%5.11%5.82%5.34%+480 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.11%0.02%0.14%0.15%+15 bps
Net Charge-Offs / Loans-0.03%0.14%0.02%-0.01%0.01%0.04%0.02%-0.33%-32 bps
Allowance / Loans0.72%0.70%0.70%0.73%0.75%0.73%0.73%0.84%+11 bps
Allowance Coverage of NPLsn/an/an/an/a6.7x39.6x5.2x5.8xn/a
Capital
Tier 1 Leverage Ratio12.63%12.80%13.00%12.09%11.83%11.91%12.21%12.52%+44 bps
Total Risk-Based Capital17.66%17.55%17.86%17.29%16.85%17.04%17.22%17.91%+62 bps
Equity / Assets13.06%13.16%13.17%12.17%12.00%12.00%12.22%12.97%+79 bps
Liquidity & Funding
Loans / Deposits85.66%87.57%87.77%86.82%79.63%85.82%85.90%82.40%-442 bps
Liquid Assets / Assets6.00%8.08%6.89%5.70%5.88%5.36%6.83%4.79%-91 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a