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Sunshine State Community Bank

Port Orange, FL · Cert 35478

FDIC

Q4 2010

$125.5MAssets
$85.2MLoans
$116.7MDeposits
$1.7MEquity
Deposit mix
75%Interest-bearing $87.2M25%Noninterest $29.5MQ4 2009Q4 2010

NIM

5.88%Q4 ’085.53%Q4 ’094.48%Q4 ’100%-14%

Non-interest income vs. expense

3.58%Q4 ’084.45%Q4 ’094.22%Q4 ’10+34%+3%

Executive Summary

  • Earnings: ROA of -4.34%, down 15 bps year over year; NIM at 3.06%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 5.93%.
  • Funding: loans stand at 72.98% of deposits as of Q4 2010.

Financial Results

Return on Assets (YTD, annualized)

-4.34%-15 bps YoY

Net Interest Margin (YTD, annualized)

3.06%-51 bps YoY

Efficiency Ratio (YTD, annualized)

130.68%+2,179 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets-4.19%-6.35%-3.75%-5.05%-4.34%-15 bps
Return on Equity-62.18%-141.28%-90.44%-141.44%-136.93%-7,475 bps
Net Interest Margin3.57%3.47%3.01%2.95%3.06%-51 bps
Efficiency Ratio108.89%101.60%112.93%122.23%130.68%+2,179 bps
Non-Interest Burden3.93%3.54%3.47%3.67%4.05%+12 bps
Growth
Asset Growth (YoY)-16.91%-18.31%-11.63%-10.11%-11.81%+511 bps
Loan Growth (YoY)-14.25%-17.48%-15.06%-17.98%-18.25%-400 bps
Deposit Growth (YoY)-12.80%-13.02%-5.97%-6.15%-8.65%+415 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.74%8.21%5.00%6.10%5.93%+118 bps
Allowance / Loans3.80%4.32%4.26%5.32%4.73%+93 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 Capital8.48%6.69%6.43%3.87%3.26%-522 bps
Equity / Assets5.18%3.81%3.50%1.77%1.34%-384 bps
Liquidity & Funding
Loans / Deposits81.55%76.29%68.93%70.16%72.98%-857 bps
Liquid Assets / Assets4.91%13.74%15.29%16.91%7.95%+304 bps
CRE / Total Capitaln/an/an/an/an/an/an/a