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Letter portraitLegal landscapeQuarterYTD

Southern Community Bank of South Florida

Boca Raton, FL · Cert 57356

FDIC

Q2 2004

$187.0MAssets
$164.1MLoans
$141.1MDeposits
$16.6MEquity
Loan mix
84%RE $22.0M16%C&I $4.2M0%Consumer $0.1MQ2 2003Q2 2004
Deposit mix
88%Interest-bearing $124.3M12%Noninterest $16.8MQ2 2003Q2 2004

NIM

1.60%Q3 ’025.39%Q2 ’035.15%Q2 ’04+366%+16%

Non-interest income vs. expense

0.92%Q3 ’022.44%Q2 ’032.54%Q2 ’04+152%+6%

Executive Summary

  • Earnings: ROA of 0.14%, up 28 bps year over year; NIM at 3.19%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Funding: loans stand at 116.33% of deposits as of Q2 2004.

Financial Results

Return on Assets (YTD, annualized)

0.14%+28 bps YoY

Net Interest Margin (YTD, annualized)

3.19%+45 bps YoY

Efficiency Ratio (YTD, annualized)

76.85%-749 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets-0.14%-0.14%-0.12%-0.29%0.14%+28 bps
Return on Equity-1.26%-1.35%-1.25%-3.35%1.55%+281 bps
Net Interest Margin2.74%2.63%2.62%3.28%3.19%+45 bps
Efficiency Ratio84.34%84.53%87.25%92.46%76.85%-749 bps
Non-Interest Burden2.29%2.20%2.27%3.02%2.43%+14 bps
Growth
Asset Growth (YoY)n/a48.24%47.36%58.86%70.04%n/a
Loan Growth (YoY)n/a151.73%89.74%68.02%89.68%n/a
Deposit Growth (YoY)n/a50.86%51.02%60.56%43.41%n/a
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 / Loans1.31%1.27%1.26%1.26%1.21%-10 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 Capital12.42%10.41%10.09%10.21%10.52%-190 bps
Equity / Assets10.34%8.91%8.47%8.95%8.90%-144 bps
Liquidity & Funding
Loans / Deposits87.95%92.84%92.65%98.70%116.33%+2,838 bps
Liquid Assets / Assets0.02%0.01%0.01%0.01%0.01%-1 bps
CRE / Total Capitaln/an/an/an/an/an/an/a