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First Kensington Bank

Spring Hill, FL · Cert 35327

FDIC

Q2 2006

$339.9MAssets
$136.4MLoans
$281.3MDeposits
$27.9MEquity
Loan mix
74%RE $14.7M25%C&I $5.1M1%Consumer $0.1MQ2 2005Q2 2006
Deposit mix
90%Interest-bearing $252.0M10%Noninterest $29.3MQ2 2005Q2 2006

NIM

4.77%Q2 ’045.42%Q2 ’055.95%Q2 ’06+11%-20%

Non-interest income vs. expense

1.57%Q2 ’041.77%Q2 ’051.66%Q2 ’06+10%-4%

Executive Summary

  • Earnings: ROA of 0.81%, down 16 bps year over year; NIM at 2.70%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 48.50% of deposits as of Q2 2006.

Financial Results

Return on Assets (quarter, annualized)

0.81%-16 bps YoY

Net Interest Margin (quarter, annualized)

2.70%-68 bps YoY

Efficiency Ratio (quarter, annualized)

59.06%+900 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2005Q3 2005Q4 2005Q1 2006Q2 2006YoY ΔTrend
Earnings
Return on Assets0.96%0.98%0.86%1.06%0.81%-16 bps
Return on Equity9.71%10.40%9.72%12.58%9.79%+8 bps
Net Interest Margin3.38%3.39%3.29%3.05%2.70%-68 bps
Efficiency Ratio50.06%54.50%62.22%50.42%59.06%+900 bps
Non-Interest Burden1.62%1.78%2.01%1.48%1.55%-7 bps
Growth
Asset Growth (YoY)-3.32%-0.88%20.84%22.47%21.45%+2,477 bps
Loan Growth (YoY)14.97%24.01%28.40%27.97%17.49%+252 bps
Deposit Growth (YoY)-5.58%2.67%16.35%28.38%12.97%+1,855 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.01%0.01%0.00%0 bps
Allowance / Loans0.94%0.97%0.81%0.74%0.74%-19 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 Capital18.70%18.15%16.98%15.87%15.74%-296 bps
Equity / Assets9.88%9.04%8.63%8.28%8.21%-167 bps
Liquidity & Funding
Loans / Deposits46.64%42.50%44.66%45.58%48.50%+186 bps
Liquid Assets / Assets52.96%57.73%56.68%54.17%54.17%+122 bps
CRE / Total Capitaln/an/an/an/an/an/an/a