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Letter portraitLegal landscapeQuarterYTD

Palm Beach County Bank

Boynton Beach, FL · Cert 35211

FDIC

Q3 2005

$373.3MAssets
$298.3MLoans
$286.2MDeposits
$26.7MEquity
Deposit mix
86%Interest-bearing $247.4M14%Noninterest $38.8MQ3 2004Q3 2005

NIM

5.66%Q3 ’035.07%Q3 ’045.76%Q3 ’05-9%+4%

Non-interest income vs. expense

2.77%Q3 ’032.57%Q3 ’041.96%Q3 ’05-10%-20%

Executive Summary

  • Earnings: ROA of 1.77%, up 58 bps year over year; NIM at 3.76%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 104.21% of deposits as of Q3 2005.

Financial Results

Return on Assets (YTD, annualized)

1.77%+58 bps YoY

Net Interest Margin (YTD, annualized)

3.76%+14 bps YoY

Efficiency Ratio (YTD, annualized)

50.87%-1,565 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2004Q4 2004Q1 2005Q2 2005Q3 2005YoY ΔTrend
Earnings
Return on Assets1.19%1.23%1.57%1.72%1.77%+58 bps
Return on Equity16.82%17.12%20.97%23.29%24.13%+731 bps
Net Interest Margin3.62%3.35%3.85%3.83%3.76%+14 bps
Efficiency Ratio66.52%64.97%54.86%52.66%50.87%-1,565 bps
Non-Interest Burden2.33%2.11%2.07%1.97%1.87%-46 bps
Growth
Asset Growth (YoY)51.22%57.61%44.92%48.11%39.72%-1,149 bps
Loan Growth (YoY)55.04%49.64%50.49%45.76%42.53%-1,250 bps
Deposit Growth (YoY)47.33%56.83%40.37%42.07%36.86%-1,048 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.81%0.80%0.79%0.80%0.80%-1 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 Capital10.39%12.44%11.60%10.87%10.25%-14 bps
Equity / Assets6.50%7.61%7.33%7.22%7.15%+65 bps
Liquidity & Funding
Loans / Deposits100.06%96.51%102.71%102.05%104.21%+415 bps
Liquid Assets / Assets1.42%4.63%1.04%2.74%0.46%-96 bps
CRE / Total Capitaln/an/an/an/an/an/an/a