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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

5.37%Q4 ’084.77%Q4 ’094.05%Q4 ’10-2%-12%

Non-interest income vs. expense

3.67%Q4 ’085.08%Q4 ’094.16%Q4 ’10+39%+2%

Executive Summary

  • Earnings: ROA of -1.93%, up 278 bps year over year; NIM at 2.79%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.17%.
  • Funding: loans stand at 72.98% of deposits as of Q4 2010.

Financial Results

Return on Assets (quarter, annualized)

-1.93%+278 bps YoY

Net Interest Margin (quarter, annualized)

2.79%-37 bps YoY

Efficiency Ratio (quarter, annualized)

165.76%+3,548 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2009Q1 2010Q2 2010Q3 2010Q4 2010YoY ΔTrend
Earnings
Return on Assets-4.70%-6.35%-1.29%-7.47%-1.93%+278 bps
Return on Equity-82.67%-141.28%-35.32%-280%-123.08%-4,041 bps
Net Interest Margin3.16%3.47%2.77%2.71%2.79%-37 bps
Efficiency Ratio130.28%101.60%126.80%149.50%165.76%+3,548 bps
Non-Interest Burden4.34%3.54%3.63%3.94%4.44%+10 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 / Loans5.79%8.21%1.62%7.72%4.17%-162 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