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Flagler Bank

West Palm Beach, FL · Cert 35218

FDIC · 4 branches

Q3 2023

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: Q3 2023, the quarter ended September 30, 2023, 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

Flagler Bank

West Palm Beach, FL · Cert 35218

FDIC · 4 branches

Q3 2023

$513.7MAssets
$390.2MLoans
$381.3MDeposits
$44.5MEquity
Loan mix
81%RE $186.7M19%C&I $44.1M0%Consumer $0.0MQ3 2022Q3 2023
Deposit mix
67%Interest-bearing $255.6M33%Noninterest $125.6MQ3 2022Q3 2023

NIM

3.90%Q3 ’213.82%Q3 ’224.69%Q3 ’23+2%-25%

Non-interest income vs. expense

1.37%Q3 ’211.44%Q3 ’221.46%Q3 ’23+3%+6%

Market Position · Miami-Fort Lauderdale-West Palm Beach, FL · 2023 SOD (annual) · 0.1% share · #44 of 85 inst. · $0.4B of $334.1B

Executive Summary

  • Earnings: ROA of 0.94%, down 69 bps year over year; NIM at 2.51%.
  • Asset quality: problem loans at 0.00% of loans (-23 bps YoY), with net recoveries of 0.02%.
  • Capital: tier 1 leverage ratio of 11.07%, up 52 bps from a year ago.
  • Funding: loans stand at 102.33% of deposits as of Q3 2023.

Financial Results

Return on Assets (YTD, annualized)

0.94%-69 bps YoY

Net Interest Margin (YTD, annualized)

2.51%-83 bps YoY

Efficiency Ratio (YTD, annualized)

52.72%+1,339 bps YoY

Tier 1 Leverage Ratio

11.07%+52 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2022Q4 2022Q1 2023Q2 2023Q3 2023YoY ΔTrend
Earnings
Return on Assets1.63%1.54%1.29%1.02%0.94%-69 bps
Return on Equity18.69%17.73%14.67%11.67%10.81%-787 bps
Net Interest Margin3.34%3.30%2.93%2.59%2.51%-83 bps
Efficiency Ratio39.33%42.59%49.91%50.37%52.72%+1,339 bps
Non-Interest Burden1.13%1.23%1.33%1.17%1.20%+7 bps
Growth
Asset Growth (YoY)0.49%-2.96%-1.46%7.84%4.98%+449 bps
Loan Growth (YoY)16.15%18.13%26.78%19.35%7.48%-867 bps
Deposit Growth (YoY)-0.71%-9.43%-8.21%3.69%-4.52%-381 bps
Asset Quality
Nonperforming Loans / Loans0.23%0.23%0.20%0.00%0.00%-23 bps
Net Charge-Offs / Loans0.00%0.14%-0.02%-0.02%-0.02%-1 bps
Allowance / Loans1.17%1.07%1.07%0.99%1.01%-16 bps
Allowance Coverage of NPLs5.0x4.8x5.3x302.0xn/an/a
Capital
Tier 1 Leverage Ratio10.55%10.58%10.55%10.49%11.07%+52 bps
Total Risk-Based Capital13.39%13.90%13.90%13.35%14.45%+106 bps
Equity / Assets8.18%8.70%8.83%8.59%8.66%+48 bps
Liquidity & Funding
Loans / Deposits90.91%96.93%94.97%93.34%102.33%+1,143 bps
Liquid Assets / Assets0.86%0.23%2.04%1.20%0.56%-30 bps
CRE / Total Capitaln/an/an/an/an/an/an/a