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Letter portraitLegal landscapeQuarterYTD

Bank of Venice, The

Venice, FL · Cert 57386

FDIC

Q2 2009

$91.3MAssets
$64.8MLoans
$71.9MDeposits
$12.8MEquity
Loan mix
94%RE $57.4M6%C&I $3.4M0%Consumer $0.3MQ2 2008Q2 2009
Deposit mix
89%Interest-bearing $64.2M11%Noninterest $7.7MQ2 2008Q2 2009

NIM

-1.70%Q2 ’075.23%Q2 ’084.08%Q2 ’09+380%-28%

Non-interest income vs. expense

-0.90%Q2 ’074.01%Q2 ’084.27%Q2 ’09+555%0%

Executive Summary

  • Earnings: ROA of -2.20%, down 125 bps year over year; NIM at 1.94%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.39%.
  • Funding: loans stand at 90.09% of deposits as of Q2 2009.

Financial Results

Return on Assets (quarter, annualized)

-2.20%-125 bps YoY

Net Interest Margin (quarter, annualized)

1.94%-75 bps YoY

Efficiency Ratio (quarter, annualized)

178.12%+4,242 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ2 2008Q3 2008Q4 2008Q1 2009Q2 2009YoY ΔTrend
Earnings
Return on Assets-0.95%-0.90%-4.96%-1.71%-2.20%-125 bps
Return on Equity-5.47%-5.36%-32.01%-12.59%-16.43%-1,096 bps
Net Interest Margin2.69%2.92%2.65%2.17%1.94%-75 bps
Efficiency Ratio135.70%116.22%135.83%141.91%178.12%+4,242 bps
Non-Interest Burden3.95%3.71%3.89%3.43%3.94%0 bps
Growth
Asset Growth (YoY)13.28%12.97%24.66%23.22%6.22%-706 bps
Loan Growth (YoY)15.24%14.53%15.68%7.99%4.21%-1,103 bps
Deposit Growth (YoY)3.05%3.53%23.66%28.90%27.15%+2,410 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.67%0.33%1.75%0.53%4.39%+372 bps
Allowance / Loans1.04%1.13%2.78%3.18%2.76%+172 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 Capital13.45%14.60%12.42%11.64%11.72%-173 bps
Equity / Assets16.77%16.71%14.35%12.87%13.97%-281 bps
Liquidity & Funding
Loans / Deposits109.92%116.81%105.89%92.98%90.09%-1,984 bps
Liquid Assets / Assets0.01%0.01%0.01%0.01%0.01%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a