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Centerstate Bank of Florida

Winter Haven, FL · Cert 35313

FDIC

Q4 2005

$181.4MAssets
$113.4MLoans
$148.4MDeposits
$17.2MEquity
Loan mix
66%RE $36.3M31%C&I $17.1M2%Consumer $1.3MQ4 2004Q4 2005
Deposit mix
67%Interest-bearing $99.9M33%Noninterest $48.5MQ4 2004Q4 2005

NIM

3.75%Q4 ’033.92%Q4 ’044.57%Q4 ’05+7%+12%

Non-interest income vs. expense

2.83%Q4 ’032.79%Q4 ’042.73%Q4 ’05-2%-4%

Executive Summary

  • Earnings: ROA of 0.67%, up 35 bps year over year; NIM at 3.42%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.04%.
  • Funding: loans stand at 76.41% of deposits as of Q4 2005.

Financial Results

Return on Assets (YTD, annualized)

0.67%+35 bps YoY

Net Interest Margin (YTD, annualized)

3.42%+36 bps YoY

Efficiency Ratio (YTD, annualized)

68.20%-879 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2004Q1 2005Q2 2005Q3 2005Q4 2005YoY ΔTrend
Earnings
Return on Assets0.32%0.48%0.52%0.62%0.67%+35 bps
Return on Equity2.81%4.69%5.12%6.16%6.75%+395 bps
Net Interest Margin3.05%3.50%3.44%3.27%3.42%+36 bps
Efficiency Ratio76.99%73.51%72.12%69.14%68.20%-879 bps
Non-Interest Burden2.30%2.44%2.35%2.14%2.20%-10 bps
Growth
Asset Growth (YoY)34.12%16.12%26.36%37.03%27.60%-652 bps
Loan Growth (YoY)18.39%20.88%26.93%35.64%31.94%+1,355 bps
Deposit Growth (YoY)42.02%11.34%24.78%29.77%18.42%-2,361 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.27%0.02%0.06%0.04%0.04%-23 bps
Allowance / Loans1.08%1.13%1.09%1.12%1.15%+7 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 Capital10.32%10.01%10.44%10.14%10.14%-18 bps
Equity / Assets10.45%10.14%9.89%9.81%9.47%-98 bps
Liquidity & Funding
Loans / Deposits68.57%79.37%73.39%76.11%76.41%+783 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