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Liberty Bank

Clearwater, FL · Cert 57912

FDIC

Q3 2008

$89.7MAssets
$64.5MLoans
$67.2MDeposits
$12.7MEquity
Deposit mix
86%Interest-bearing $57.7M14%Noninterest $9.4MQ3 2007Q3 2008

NIM

5.84%Q3 ’066.24%Q3 ’075.75%Q3 ’08-3%+16%

Non-interest income vs. expense

2.93%Q3 ’063.01%Q3 ’073.56%Q3 ’08+1%+21%

Executive Summary

  • Earnings: ROA of 0.20%, down 21 bps year over year; NIM at 3.80%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.01%.
  • Funding: loans stand at 96.04% of deposits as of Q3 2008.

Financial Results

Return on Assets (quarter, annualized)

0.20%-21 bps YoY

Net Interest Margin (quarter, annualized)

3.80%+53 bps YoY

Efficiency Ratio (quarter, annualized)

91.55%+344 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets0.41%0.34%0.16%0.29%0.20%-21 bps
Return on Equity2.81%2.42%1.12%1.81%1.33%-148 bps
Net Interest Margin3.27%3.48%3.32%3.58%3.80%+53 bps
Efficiency Ratio88.11%89.84%94.43%90.45%91.55%+344 bps
Non-Interest Burden2.86%3.11%3.13%3.23%3.47%+61 bps
Growth
Asset Growth (YoY)2.94%13.12%-10.22%-9.59%8.94%+599 bps
Loan Growth (YoY)29.68%25.83%23.04%11.85%17.72%-1,196 bps
Deposit Growth (YoY)3.75%17.71%-14.65%-18.35%-1.42%-517 bps
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%0.01%0.01%+1 bps
Allowance / Loans1.34%1.29%1.27%1.28%1.20%-14 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 Capital20.70%19.00%20.20%20.37%18.16%-255 bps
Equity / Assets14.96%13.05%15.96%16.16%14.14%-82 bps
Liquidity & Funding
Loans / Deposits80.43%71.06%94.53%101.88%96.04%+1,561 bps
Liquid Assets / Assets8.49%5.71%6.72%5.44%4.77%-372 bps
CRE / Total Capitaln/an/an/an/an/an/an/a