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Signature Bank

Saint Petersburg, FL · Cert 35234

FDIC

Q4 2006

$268.9MAssets
$216.5MLoans
$223.0MDeposits
$20.2MEquity
Loan mix
71%RE $58.9M27%C&I $22.3M2%Consumer $1.3MQ4 2005Q4 2006
Deposit mix
93%Interest-bearing $207.4M7%Noninterest $15.6MQ4 2005Q4 2006

NIM

5.63%Q4 ’046.39%Q4 ’057.18%Q4 ’06+6%-9%

Non-interest income vs. expense

2.63%Q4 ’042.88%Q4 ’053.02%Q4 ’06+8%+5%

Executive Summary

  • Earnings: ROA of -0.13%, down 95 bps year over year; NIM at 3.93%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.00%.
  • Funding: loans stand at 97.10% of deposits as of Q4 2006.

Financial Results

Return on Assets (quarter, annualized)

-0.13%-95 bps YoY

Net Interest Margin (quarter, annualized)

3.93%-40 bps YoY

Efficiency Ratio (quarter, annualized)

69.12%+844 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2005Q1 2006Q2 2006Q3 2006Q4 2006YoY ΔTrend
Earnings
Return on Assets0.83%0.74%0.88%0.86%-0.13%-95 bps
Return on Equity11.65%10.18%12.18%11.85%-1.68%-1,332 bps
Net Interest Margin4.33%4.18%4.16%4.03%3.93%-40 bps
Efficiency Ratio60.68%66.44%65.56%68.42%69.12%+844 bps
Non-Interest Burden2.46%2.63%2.55%2.62%2.58%+12 bps
Growth
Asset Growth (YoY)37.15%38.57%33.32%20.14%19.29%-1,786 bps
Loan Growth (YoY)39.99%41.02%38.95%37.22%29.37%-1,062 bps
Deposit Growth (YoY)29.95%42.85%27.31%13.14%16.82%-1,313 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.01%0.00%0.05%0.00%2.00%+199 bps
Allowance / Loans1.28%1.28%1.28%1.27%1.26%-3 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 Capital10.38%10.15%10.05%10.13%10.08%-30 bps
Equity / Assets7.15%7.29%7.15%7.43%7.52%+37 bps
Liquidity & Funding
Loans / Deposits87.68%92.17%94.75%96.39%97.10%+942 bps
Liquid Assets / Assets11.79%8.43%7.36%6.48%6.63%-516 bps
CRE / Total Capitaln/an/an/an/an/an/an/a