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Letter portraitLegal landscapeQuarterYTD

Palm Bank, The

Tampa, FL · Cert 57456

FDIC

Q1 2012

$116.8MAssets
$66.1MLoans
$99.6MDeposits
$9.8MEquity
Loan mix
72%RE $38.0M24%C&I $12.5M5%Consumer $2.4MQ1 2011Q1 2012
Deposit mix
83%Interest-bearing $83.1M17%Noninterest $16.4MQ1 2011Q1 2012

NIM

4.47%Q1 ’104.69%Q1 ’114.11%Q1 ’12+30%+4%

Non-interest income vs. expense

2.71%Q1 ’103.10%Q1 ’114.07%Q1 ’12-1%+47%

Executive Summary

  • Earnings: ROA of -0.71%, down 118 bps year over year; NIM at 3.38%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.39%.
  • Funding: loans stand at 66.34% of deposits as of Q1 2012.

Financial Results

Return on Assets (YTD, annualized)

-0.71%-118 bps YoY

Net Interest Margin (YTD, annualized)

3.38%+12 bps YoY

Efficiency Ratio (YTD, annualized)

120.97%+3,412 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ1 2011Q2 2011Q3 2011Q4 2011Q1 2012YoY ΔTrend
Earnings
Return on Assets0.47%-0.87%-0.97%-0.67%-0.71%-118 bps
Return on Equity7.27%-12.96%-13.66%-9.28%-8.59%-1,585 bps
Net Interest Margin3.25%3.26%3.40%3.57%3.38%+12 bps
Efficiency Ratio86.85%91.77%94.86%103.18%120.97%+3,412 bps
Non-Interest Burden2.78%2.98%3.22%3.69%4.08%+130 bps
Growth
Asset Growth (YoY)-11.78%-17.57%-13.68%-14.91%-17.00%-522 bps
Loan Growth (YoY)-15.37%-16.71%-14.97%-15.29%-20.48%-511 bps
Deposit Growth (YoY)-12.42%-18.24%-14.36%-12.24%-16.43%-401 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans-0.05%2.38%2.97%2.86%-0.39%-34 bps
Allowance / Loans3.56%3.56%3.18%2.88%3.28%-28 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 Capital12.24%11.87%11.98%12.60%13.08%+84 bps
Equity / Assets6.71%7.44%8.04%8.13%8.42%+171 bps
Liquidity & Funding
Loans / Deposits69.72%70.28%67.55%70.91%66.34%-338 bps
Liquid Assets / Assets3.15%3.66%6.77%3.49%5.11%+196 bps
CRE / Total Capitaln/an/an/an/an/an/an/a