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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

4.83%Q4 ’025.76%Q2 ’035.57%Q2 ’04+70%+21%

Non-interest income vs. expense

2.49%Q4 ’022.66%Q2 ’032.45%Q2 ’04+3%-8%

Executive Summary

  • Earnings: ROA of 0.51%, up 42 bps year over year; NIM at 3.65%.
  • 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 (quarter, annualized)

0.51%+42 bps YoY

Net Interest Margin (quarter, annualized)

3.65%+64 bps YoY

Efficiency Ratio (quarter, annualized)

65.04%-1,967 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2003Q3 2003Q4 2003Q1 2004Q2 2004YoY ΔTrend
Earnings
Return on Assets0.08%-0.15%-0.08%-0.29%0.51%+42 bps
Return on Equity0.77%-1.52%-0.97%-3.35%5.69%+491 bps
Net Interest Margin3.01%3.00%3.33%3.28%3.65%+64 bps
Efficiency Ratio84.72%84.83%93.12%92.46%65.04%-1,967 bps
Non-Interest Burden2.53%2.52%3.09%3.02%2.33%-19 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