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Letter portraitLegal landscapeQuarterYTD

Bank of Florida

Fort Lauderdale, FL · Cert 57360

FDIC

Q1 2010

$595.3MAssets
$420.1MLoans
$531.8MDeposits
$7.1MEquity
Loan mix
84%RE $231.5M15%C&I $41.7M1%Consumer $1.5MQ1 2009Q1 2010
Deposit mix
91%Interest-bearing $484.0M9%Noninterest $47.8MQ1 2009Q1 2010

NIM

6.39%Q1 ’085.21%Q1 ’094.19%Q1 ’10-13%-27%

Non-interest income vs. expense

3.05%Q1 ’082.85%Q1 ’093.71%Q1 ’10-6%-26%

Executive Summary

  • Earnings: ROA of -9.51%, down 835 bps year over year; NIM at 2.14%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 11.15%.
  • Funding: loans stand at 79.00% of deposits as of Q1 2010.

Financial Results

Return on Assets (YTD, annualized)

-9.51%-835 bps YoY

Net Interest Margin (YTD, annualized)

2.14%-79 bps YoY

Efficiency Ratio (YTD, annualized)

80.83%-1,102 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-1.16%-1.39%-4.34%-5.92%-9.51%-835 bps
Return on Equity-11.82%-14.11%-47.77%-73.31%-374%-36,249 bps
Net Interest Margin2.92%2.94%2.99%2.63%2.14%-79 bps
Efficiency Ratio91.85%99.14%91.85%97.21%80.83%-1,102 bps
Non-Interest Burden2.71%2.95%5.69%4.60%2.01%-71 bps
Growth
Asset Growth (YoY)13.33%4.59%1.25%-0.60%10.65%-268 bps
Loan Growth (YoY)8.79%4.73%-2.38%-2.13%-5.35%-1,414 bps
Deposit Growth (YoY)23.38%11.37%4.74%10.71%25.54%+216 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans2.34%3.20%3.08%3.70%11.15%+880 bps
Allowance / Loans1.89%1.71%2.10%2.69%2.92%+103 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 Capital10.15%10.21%9.80%6.47%3.33%-682 bps
Equity / Assets9.73%9.83%6.90%4.05%1.19%-854 bps
Liquidity & Funding
Loans / Deposits104.77%112.73%100.22%96.97%79.00%-2,577 bps
Liquid Assets / Assets0.01%0.02%5.55%1.25%18.99%+1,898 bps
CRE / Total Capitaln/an/an/an/an/an/an/a