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Sea Island Bank

Statesboro, GA · Cert 5707

FDIC

Q1 2010

$771.6MAssets
$607.6MLoans
$638.2MDeposits
$63.0MEquity
Loan mix
81%RE $384.8M18%C&I $86.5M0%Consumer $1.3MQ1 2009Q1 2010
Deposit mix
88%Interest-bearing $561.7M12%Noninterest $76.5MQ1 2009Q1 2010

NIM

6.72%Q1 ’085.04%Q1 ’094.73%Q1 ’10-18%+18%

Non-interest income vs. expense

2.17%Q1 ’082.91%Q1 ’092.53%Q1 ’10+83%+33%

Executive Summary

  • Earnings: ROA of -2.41%, down 149 bps year over year; NIM at 3.48%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 3.32%.
  • Funding: loans stand at 95.21% of deposits as of Q1 2010.

Financial Results

Return on Assets (YTD, annualized)

-2.41%-149 bps YoY

Net Interest Margin (YTD, annualized)

3.48%+53 bps YoY

Efficiency Ratio (YTD, annualized)

116.07%+1,862 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2009Q2 2009Q3 2009Q4 2009Q1 2010YoY ΔTrend
Earnings
Return on Assets-0.92%-1.57%-1.60%-2.76%-2.41%-149 bps
Return on Equity-10.61%-18.51%-19.14%-32.95%-29.10%-1,850 bps
Net Interest Margin2.95%3.12%3.16%3.23%3.48%+53 bps
Efficiency Ratio97.45%81.20%77.82%75.75%116.07%+1,862 bps
Non-Interest Burden2.88%2.59%2.52%2.49%3.83%+95 bps
Growth
Asset Growth (YoY)5.29%2.85%3.00%-0.51%2.50%-279 bps
Loan Growth (YoY)5.81%4.17%-1.24%-4.04%-8.45%-1,426 bps
Deposit Growth (YoY)15.11%13.38%4.30%-0.27%2.39%-1,272 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.73%2.44%2.81%4.71%3.32%+60 bps
Allowance / Loans1.36%2.06%2.31%1.87%1.90%+54 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 Capital10.43%10.20%10.54%11.10%11.31%+88 bps
Equity / Assets8.69%8.14%8.06%8.39%8.17%-52 bps
Liquidity & Funding
Loans / Deposits106.48%109.19%101.45%99.03%95.21%-1,127 bps
Liquid Assets / Assets0.01%0.43%0.90%0.00%0.01%-1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a