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Central Florida State Bank

Belleview, FL · Cert 57186

FDIC

Q4 2011

$71.5MAssets
$48.5MLoans
$71.1MDeposits
$330KEquity
Loan mix
89%RE $34.3M10%C&I $3.7M2%Consumer $0.7MQ4 2010Q4 2011
Deposit mix
96%Interest-bearing $68.4M4%Noninterest $2.7MQ4 2010Q4 2011

NIM

4.59%Q4 ’094.09%Q4 ’103.57%Q4 ’11+1%-12%

Non-interest income vs. expense

3.02%Q4 ’094.01%Q4 ’103.86%Q4 ’11+34%-5%

Executive Summary

  • Earnings: ROA of -4.35%, up 217 bps year over year; NIM at 2.58%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 8.32%.
  • Funding: loans stand at 68.16% of deposits as of Q4 2011.

Financial Results

Return on Assets (quarter, annualized)

-4.35%+217 bps YoY

Net Interest Margin (quarter, annualized)

2.58%-34 bps YoY

Efficiency Ratio (quarter, annualized)

133.39%+807 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ4 2010Q1 2011Q2 2011Q3 2011Q4 2011YoY ΔTrend
Earnings
Return on Assets-6.52%-3.43%-5.26%-14.47%-4.35%+217 bps
Return on Equity-83.83%-51.93%-96.06%-451%-442%-35,774 bps
Net Interest Margin2.91%2.80%2.56%2.24%2.58%-34 bps
Efficiency Ratio125.33%154.99%277%n/a133.39%+807 bps
Non-Interest Burden3.72%4.41%7.15%7.55%3.54%-18 bps
Growth
Asset Growth (YoY)-15.57%-10.40%-11.35%-9.11%-13.75%+182 bps
Loan Growth (YoY)-18.51%-18.79%-17.95%-17.69%-17.97%+54 bps
Deposit Growth (YoY)-11.61%-7.72%-7.40%-2.09%-7.53%+409 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans4.56%15.27%1.34%6.93%8.32%+376 bps
Allowance / Loans6.02%3.28%3.36%5.49%4.92%-109 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 Capital10.36%9.22%7.78%3.19%1.05%-931 bps
Equity / Assets7.11%6.09%4.86%1.46%0.46%-665 bps
Liquidity & Funding
Loans / Deposits76.84%69.69%66.13%64.70%68.16%-868 bps
Liquid Assets / Assets6.22%6.06%7.94%2.36%1.64%-458 bps
CRE / Total Capitaln/an/an/an/an/an/an/a