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Letter portraitLegal landscapeQuarterYTD

Southern Community Bank of Southwest Florida

Bonita Springs, FL · Cert 35536

FDIC

Q2 2004

$192.5MAssets
$159.3MLoans
$170.8MDeposits
$16.8MEquity
Loan mix
76%RE $14.5M21%C&I $4.0M3%Consumer $0.5MQ2 2003Q2 2004
Deposit mix
91%Interest-bearing $156.1M9%Noninterest $14.7MQ2 2003Q2 2004

NIM

6.22%Q2 ’025.61%Q2 ’035.47%Q2 ’04-9%+13%

Non-interest income vs. expense

2.90%Q2 ’022.30%Q2 ’031.92%Q2 ’04-22%-19%

Executive Summary

  • Earnings: ROA of 1.11%, up 57 bps year over year; NIM at 3.56%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 93.26% of deposits as of Q2 2004.

Financial Results

Return on Assets (quarter, annualized)

1.11%+57 bps YoY

Net Interest Margin (quarter, annualized)

3.56%+40 bps YoY

Efficiency Ratio (quarter, annualized)

50.54%-1,841 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets0.54%0.95%0.83%0.74%1.11%+57 bps
Return on Equity6.11%9.73%8.79%8.14%12.47%+636 bps
Net Interest Margin3.16%3.63%3.75%3.70%3.56%+40 bps
Efficiency Ratio68.95%50.14%58.13%57.64%50.54%-1,841 bps
Non-Interest Burden2.12%1.71%2.08%2.05%1.71%-41 bps
Growth
Asset Growth (YoY)55.83%32.68%40.13%44.26%36.02%-1,981 bps
Loan Growth (YoY)69.58%52.36%51.69%60.17%43.10%-2,647 bps
Deposit Growth (YoY)56.44%31.46%39.34%42.57%34.29%-2,215 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.20%1.28%1.26%1.26%1.20%0 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 Capital11.49%10.79%10.63%10.34%10.30%-119 bps
Equity / Assets9.77%9.77%9.19%9.09%8.73%-104 bps
Liquidity & Funding
Loans / Deposits87.51%91.14%94.87%91.21%93.26%+574 bps
Liquid Assets / Assets0.01%0.01%0.01%0.01%0.01%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a